IMPORTANT UPDATE: Preliminary Injunction Reinstated, Reporting Requirements Under Corporate Transparency Act Halted….. For Now

On December 26th the merits panel of judges on the U.S. Court of Appeals of the Fifth Circuit vacated the motions panel of the same court’s decision of December 23rd and has reinstated the preliminary injunction against the government halting its enforcement of the CTA and the BOI filing requirements.

As those following this ongoing back and forth may recall, on December 3rd the District Court in Texas Top Cop Shop, Inc. v. Garland issued a nationwide preliminary injunction against the enforcement by the government of the CTA and its BOI filing requirements. The government appealed that decision and made an emergency motion to have the preliminary injunction lifted pending its appeal of the injunction. On December 23rd, the motion was granted and the filing requirements reinstated. On December 26th, the merits panel of judges on the U.S. Court of Appeals of the Fifth Circuit vacated the motions panel’s decision on the preliminary injunction reasoning that in order to maintain the constitutional status quo while the merits panel considers the substantive arguments to be set forth by both side in the appeal of the preliminary injunction, the preliminary injunction should remain in place.

This relief may be short lived. The merits panel of the Court of Appeals will be hearing the government’s appeal of the preliminary injunction issued by the district court on an expedited schedule. Once the merits panel has heard the appeal and had the opportunity to review the arguments of both sides, it could decide to lift the preliminary injunction.

What this all means that as of today 1/2/2025 the BOI reporting is now put on hold (AGAIN).  

You still however have the option to file. You can either visit http://boiefiling.fincen.gov to file your own report or you can engage the services of a company to assist you with the filing process. KVLSM will not be responsible for these filings. If you have previously filed there is nothing more that will need to be done on your part.

We will continue to monitor the case and the government’s responses and keep you posted.