The U.S. District Court for the Eastern District of Texas in Smith, et al. v. U.S. Department of Treasury, et al., has lifted its nationwide injunction on Corporate Transparency Act enforcement, which was the last of the outstanding nationwide injunctions. In response, FinCEN has issued guidance stating that the beneficial ownership information reporting requirements under the CTA are once again back in effect. Considering that reporting companies may need some additional time to comply with the reporting requirements, FinCEN has set a March 21, 2025, deadline for reporting companies.
