FINCEN INJUNCTION LIFTED, THEN VACATED SEVERAL DAYS LATER
Updated Again 12/26/2024- The Below Stay was Vacated on 12/26/24 and Preliminary Injunction back in place
UPDATED Client Alert: 12/23/2024
Dear Clients and Friends:
On December 23, 2024, the United States Court of Appeals for the Fifth Circuit granted the government’s motion for a stay on the nationwide preliminary injunction issued by a Texas District Court on December 3rd, 2024. See our prior Alert: https://kempelaw.com/injunction-temporarily-prevents-envorcement-of-boi-filing/ Although the appeals process has not been finalized, this decision lifts the injunction issued by the Texas Court pending the appeal. The appeal has been expedited to the next available oral argument panel. With the injunction stayed, reporting companies are now again required to file their Beneficial Owner Information Reports (“BOI”). FinCEN has granted an extension for existing company reports due January 1, 2025, to file by January 13th, 2025. However, the ninety (90) day filing period for newly formed entities in 2024 has not been extended. This FinCEN extension does not include the already granted hurricane relief extension, to which many may qualify.
Regards
Joe Kempe