CTA beneficial ownership information reporting requirements back in effect with deadline extensions

As an update to yesterday’s client alert regarding the U.S. Court of Appeals for the Fifth Circuit’s decision granting a stay of the district court’s preliminary injunction enjoining the enforcement of the Corporate Transparency Act (CTA), FinCEN is extending the filing deadline for beneficial ownership information reporting.

Reporting companies that were created prior to January 1, 2024, have until January 13, 2025, to comply with CTA requirements (compared with the original deadline of January 1, 2025).

For reporting companies that were created or registered after September 4, 2024, CTA compliance deadlines were also extended as set forth in the FinCEN Alert. The full text of the FinCEN Alert can be found here.