After several back-and-forth rulings affecting requirements for businesses under the Corporate Transparency Act (CTA), the U.S. District Court for the Eastern District of Texas lifted the preliminary injunction on the CTA in Smith, et al. v. U.S. Department of the Treasury, et al., restoring beneficial ownership information (BOI) reporting requirements.

Following the court’s February 18, 2025, decision, the Financial Crimes Enforcement Network (FinCEN) has granted a 30-day extension, setting a new filing deadline of March 21, 2025, for most reporting companies.

FinCEN stated it will evaluate potential deadline modifications. For now, most companies must comply by March 21.

For more information, see PMTA's article by Katherine Pandelidis Granbois, Esq. and Andrew S. Walls, Esq. - Saxton & Stump, Business and Corporate.