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Corporate Transparency Act��Beneficial Owner Information (BOI) Reporting��

“No matter how laudable its goals, Congress’s actions must abide by our Constitution. This is in the public’s best interest….Indeed, “it is always in the public interest to prevent a violation of a party’s constitutional rights.”….The Court has determined that the CTA and Reporting Rule are likely unconstitutional for purposes of a preliminary injunction.”

– Texas Top Cop Shop, Inc. et al. v Garland et al., Dec. 3, 2024, E. Dist. Texas, Sherman Div., citing�� Jackson Women’s Health Org. v. Currier (5th Cir. 2014)

Client Update and Forms Request:

• Click here to e-mail the ���ճԹ� CTA team.

Warning:�� The only official website is the FinCEN Beneficial Owner Information website: .

There is no government fee for filing a BOI report. For single-owner small businesses, filing may be relatively simple.

Beware of websites with official-sounding domain names, incorporating “USA”, “BOIR” or “FinCEN” in their name, and using seals or emblems that are deceptively official-looking. Those websites are not government websites, and are offering BOI report filing services for a fee, often with little added value. Websites that are not law firms are not subject to the same confidentiality and privacy obligations that apply to New York law firms. Some of

CTA BOI Client Alerts:

• Jan. 13: DOJ Files its US Supreme Court Reply in Texas Top Cop Shop
• Jan. 10: Texas Top Cop Shop submits response; Twelve more amicus briefs oppose the CTA.
• Jan. 9: Twenty-Five States Filed a Joint Amicus Brief Supporting the Constitutional Challenge to the Corporate Transparency Act.
• Dec. 31: The US Department of Justice has requested the U.S. Supreme Court to allow enforcement of the Corporate Transparency Act pending appeal.
• Dec. 26: Latest Breaking News on CTA: Fifth Circuit vacates stay of District Court’s injunction; will hear case on expedited review. BOI Reports are voluntary until further notice.
• Dec. 23: Fifth Circuit Court of Appeals Reinstates CTA Beneficial Owner Reporting at Eleventh Hour, and FinCEN Grants a Short Extension for Filing
• Dec. 3: District Court Issues Temporary Injunction Barring Enforcement of Corporate Transparency Act Nationwide (Texas Top Cop Shop, Inc., et al. v. Garland, et al., Dec. 3, 2024, E. Dist. Texas)

“No matter how laudable its goals, Congress’s actions must abide by our Constitution. This is in the public’s best interest….Indeed, “it is always in the public interest to prevent a violation of a party’s constitutional rights.”…The Court has determined that the CTA and Reporting Rule are likely unconstitutional for purposes of a preliminary injunction.”��

��– Texas Top Cop Shop, Inc. et al. v Garland et al., Dec. 3, 2024, E. Dist. Texas, Sherman Div. No. 4:24-cv-00478, citing�� Jackson Women’s Health Org. v. Currier (5th Cir. 2014)

Read Judge Mazzant’s opinion and injunction order here: Opinion and Order��(Injunction) in��Texas Top Cop Shop, Inc., et al. v. Garland, et al., Dec. 3, 2024, E. Dist. Texas, Sherman Div. No. 4:24-cv-00478

• Mar. 1: Federal District Court finds Corporate Transparency Act unconstitutional.

Read Judge Burke’s opinion and injunction here: Memorandum Opinion, NSBU v. Yellen, 721 F. Supp. 3d 1260, 1271 (N.D. Ala. 2024).

Additional Resources:

FinCEN Beneficial Owner Reporting

Regulations:

PDF:��

If you have an entity formed by ���ճԹ�, you should receive a message from our team shortly. You may also contact our Corporate Transparency Act team by emailing: CTA@schwartzglobal.com.