A federal district court judge in Texas signed an order on February 17 lifting the last remaining nationwide injunction blocking beneficial ownership information (BOI) reporting under the Corporate Transparency Act (CTA).

The Financial Crimes Enforcement Network (FinCEN) enforces BOI requirements and has promised a 30-day filing delay to allow reporting companies to comply. On February 18, FinCEN issued a notice stating that it “intends to extend the reporting deadline for all reporting companies 30 days from the date the stay is granted. Further, in keeping with Treasury’s commitment to reducing regulatory burden on businesses, FinCEN, during that 30-day period, will assess its options to modify further deadlines or reporting requirements for lower-risk entities, including many U.S. small businesses, while prioritizing reporting for those entities that pose the most significant national security risks.” Reporting companies formed on or after February 18, 2025, will have 30 days from the date of formation to comply with CTA filing requirements.

The 30-day delay can be extended by Congress. On February 10, the U.S. House of Representatives voted 408-0 in favor of pushing the CTA’s reporting deadline to January 1, 2026. The measure is pending in the U.S. Senate. We recommend that reporting companies that have not yet filed a BOI report take immediate action to ensure compliance by the revised deadline to avoid potential penalties or complications.

To view the FinCEN Notice, click here.

If you have any questions related to the CTA or your potential reporting obligations, please contact your Wiggin and Dana attorney.