Christina M. Reger, Esq. and Jacqui Hopkins

Well, the pendulum swings again. . .  This is not  Groundhog Day    

So a few months ago, we told you about a little known law (well at least one that was getting little attention) known as the Corporate Transparency Act or CTA for short. The CTA required the vast majority of small businesses to file a Beneficial Ownership Information (BOI) by December 31, 2024. Then a few weeks ago, a federal court issued a nationwide injunction . 

And then…. On December 23, 2024, the federal appellate court reinstated the CTA.  Now, before you start panicking, the US Treasury was kind enough to issue a very BRIEF extension.  

• Reporting companies that were created or registered prior to January 1, 2024 have until January 13, 2025 to file their initial beneficial ownership information reports with FinCEN. (These companies would otherwise have been required to report by January 1, 2025.)

• Reporting companies created or registered in the United States on or after September 4, 2024 that had a filing deadline between December 3, 2024 and December 23, 2024 have until January 13, 2025 to file their initial beneficial ownership information reports with FinCEN.

• Reporting companies created or registered in the United States on or after December 3, 2024 and on or before December 23, 2024 have an additional 21 days from their original filing deadline to file their initial beneficial ownership information reports with FinCEN.

And, in case you have missed all of this, check out our initial blog here. 

While you can do this filing by yourself, we are, of course, here to help and can do it for you so that you can get on to other things…. Like running your business. You’re welcome.