Yesterday, the US Court of Appeals for the 5th Circuit struck down the nationwide stay of the Corporate Transparency Act. This means the CTA is currently an enforceable law (for now). FinCEN, the department which enforces the CTA, announced the extension of the deadline for most reporting entities to file their beneficial ownership information with FinCEN, to January 13, 2025. As a result, Rees Broome, PC, is available to assist clients with the reporting process. We will reinitiate the processing for clients who previously engaged Rees Broome, PC for this purpose, unless expressly instructed not to.
We also want to note that Rees Broome recognizes the chaos this causes over the holidays and will do our best to accommodate our clients during this period. As we have been reporting throughout the last several months, this is a rapidly evolving issue which can change quickly given the number of cases filed throughout the country challenging the constitutionality of the CTA. We will keep you updated as new information becomes available.