On February 18, 2025, the U.S. District Court for the Eastern District of Texas granted the U.S. Department of the Treasury’s motion to stay the nationwide preliminary injunction against the enforcement of the Corporate Transparency Act in the case of Smith, et al. v. U.S. Department of the Treasury, et al.

The Financial Crimes Enforcement Network (FinCEN) announced that, as a result of this latest development, “beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act (CTA) are once again back in effect. However, because the Department of the Treasury recognizes that reporting companies may need additional time to comply with their BOI reporting obligations, FinCEN is generally extending the deadline 30 calendar days from February 19, 2025, for most companies.”

Accordingly, FinCEN explained that “[f]or the vast majority of reporting companies, the new deadline to file an initial, updated, and/or corrected BOI report is now March 21, 2025.” However, companies should stay apprised of further developments as FinCEN also indicated that it “will provide an update before then of any further modification of this deadline, recognizing that reporting companies may need additional time to comply with their BOI reporting obligations once this update is provided.”

Some options reporting companies have to file their BOI reports include accessing the FinCEN website at https://boiefiling.fincen.gov/fileboir or using a third-party service provider.

For more information about the Corporate Transparency Act and its reporting requirements, please visit FinCEN’s website located at www.fincen.gov/boi. FinCEN’s full notice dated February 18, 2025 may be accessed at the link provided here.