Bookmark this page for updates about the BOI appeal process. We will update this page with documents from the 5th circuit appeal as they become available.
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March 21st 2025 – Statement from FinCEN:
UPDATE: FinCEN Limits BOI Reporting to Foreign Entities Only with U.S. Companies and Owners Exempt
FinCEN has issued an interim final rule suspending the requirement for U.S. companies (“domestic reporting companies”) and U.S. individuals to report beneficial ownership information (BOI) under the Corporate Transparency Act.
The rule currently applies only to foreign entities (companies started overseas then registered to do business in the U.S.), exempting all domestic entities from BOI reporting obligations. Foreign entities must comply within 30 days from either the rule’s publication or from the effective date of their U.S. registration, but U.S. persons associated with these entities are not required to report currently.
This is not a final rule. Further developments from Congress could continue to change the direction of this regulation and the filing requirements.
March 3rd 2025 – Statement from Treasury:
UPDATE: Treasury announces they will not be enforcing BOI penalties and will be revising the reporting rule
In an unexpected update to the BOI reporting rule, Treasury announces that it will not be enforcing fines against companies with 100% U.S. ownership. An expected update will revise the reporting rule to include companies with at least one foreign beneficial owner.
Feb 27th 2025 – Statement from FinCEN:
UPDATE: FinCEN suspends BOI penalties until new deadlines announced (by 3/21) but confirms the Corporate Transparency Act remains in place.
FinCEN has confirmed that BOI filings will remain mandatory under the Corporate Transparency Act but will not enforce penalties for missed deadlines until new due dates take effect under an upcoming interim final rule, expected no later than March 21, 2025. While enforcement is temporarily suspended, businesses are still encouraged to file, as FinCEN stated that BOI reporting remains a national security and law enforcement priority. Once the new rule is in place and those deadlines have passed, penalty enforcement will resume.
Feb 19th 2025 – Statement from FinCEN:
UPDATE: BOI Filings are mandatory again as confirmed by FinCEN. New deadline is March 21st 2025.
FinCEN has confirmed that filing is once again mandatory and provided an extension of approximately 30 days through 03/21/2025 for companies to file their initial reports. No injunctions currently stand in the way of FinCEN enforcing the Corporate Transparency Act and related penalties. See the following from FinCEN’s website updated 2/19/2025.
Feb 18th 2025 – Eastern District of Texas:
UPDATE: The injunction in the Samantha Smith case has been paused, so it no longer blocks CTA enforcement. FinCEN is expected to provide an update within 24 hours on the filing requirement and deadline.
This order from the U.S. District Court for the Eastern District of Texas grants a stay pending appeal in the case of Samantha Smith. The district court is aligning with the Supreme Court’s decision to keep CTA enforcement active while litigation continues. Any prior relief blocking CTA requirements for these plaintiffs is now on hold until further court rulings.
FinCEN will almost certainly publish an update and new deadline for BOI reports in the next 24 hours. We’ll update you here once they do.
Stay Granted – The court’s previous order from January 7, 2025, which had granted preliminary relief – an injunction preventing enforcement of the CTA – is now paused (stayed). This means no active injunction is currently blocking enforcement of the CTA.
Reason for the Stay – The stay was granted because of the Supreme Court’s ruling in Texas Top Cop Shop, Inc. That Supreme Court ruling reinstated enforcement of the Corporate Transparency Act (CTA) by pausing a district court’s universal injunction.
Next Steps – The case will continue through the appeal process, and the stay remains in effect until the appeal is resolved. This means mandatory filings requirements are expected to resume very shortly once confirmed by FinCEN.
Feb 15th 2025 – Helpful Infographic for Sharing:
The infographic below shows the status of BOI filing. If all rows are green, filing becomes mandatory. Currently this requires a ruling siding with DOJ to stay the injunction in the Samantha Smith case. A ruling is expected in the next week based on that case schedule.
IMPORTANT PENDING CASE DECISION DUE IN NEXT FEW DAYS
Feb 10th & Feb 14th 2025 – Eastern District of Texas:
UPDATE: Samantha Smith case deadline set and met on Feb 14th for plaintiff response. Court order expected week of February 17th-21st deciding status of this last remaining active injunction.
The Texas district court initially issued a preliminary injunction in the Samantha Smith case, which is now the only nationwide order blocking enforcement of the Corporate Transparency Act (CTA) following the Supreme Court’s stay of the Texas Top Cop Shop injunction. The new Attorney General has requested the court lift the Smith injunction, and the plaintiff responded on Friday the 14th. The court is expected to issue a ruling the week of February 17th after reviewing the response – which could potentially reinstate the BOI filing requirement with a 30-day deadline if the court grants DOJ’s motion and related order – assuming the bill in the Senate has not moved ahead and extended the deadline for existing companies.
Feb 11th 2025 – Congress:
UPDATE: A bill has passed the House of Representatives to keep BOI reporting in place with a new deadline for existing companies. Update 2/12: Senate has the bill but has not yet addressed it.
This bill must still pass the Senate and be signed into law before taking effect. However, it provides insight into how future deadlines may be structured. If BOI enforcement resumes based on the outcome of the Samantha Smith case, FinCEN may proceed with 30-day deadlines unless this legislation is enacted beforehand.
Feb 3rd 2025 – U.S. Court Of Appeals, Fifth Circuit:
UPDATE: The following key dates in February and March are the next steps in the BOI appeal for the 5th Circuit – ending with a hearing on 3/25.
February 7, 2025 – Appellants’ Brief Submission Deadline
This is the deadline for the appellants (Financial Crimes Enforcement Network and others) to submit their legal brief as part of the appeal process.
February 21, 2025 – Appellees’ Brief Submission Deadline
This is the deadline for the appellees (Texas Top Cop Shop and others) to submit their response brief in the case.
February 28, 2025 – Appellants’ Reply Brief Submission Deadline
The appellants have the opportunity to file a reply brief responding to the appellees’ arguments by this date.
March 25, 2025 – Oral Argument in the Fifth Circuit Court of Appeals
This is when both sides will present their arguments before the Fifth Circuit Court of Appeals in Room 209 of the John Minor Wisdom U.S. Court of Appeals Building, New Orleans, Louisiana.
After the oral argument on March 25, 2025, the panel of judges will deliberate, reviewing the legal briefs, oral arguments, and trial court record to reach a decision. No immediate ruling is issued at the hearing, as the judges discuss the case internally before determining the outcome.
Jan 24th 2025 – FinCEN Statement
UPDATE: FinCEN confirms filings remain voluntary due to other case.
FinCEN has provided the update below update on its BOI page, confirming the effects of yesterday’s Supreme Court decision. Despite the Supreme Court issuing a stay in the first Texas case (Top Cop Shop), the injunction in the second Texas case (Samantha Smith) currently keeps filings voluntary. With Supreme Court now more actively involved and the appeal progressing in the Fifth Circuit on expedited timelines, this BOI situation continues to develop.
“On January 23, 2025, the Supreme Court granted the government’s motion to stay a nationwide injunction issued by a federal judge in Texas (Texas Top Cop Shop, Inc. v. McHenry—formerly, Texas Top Cop Shop v. Garland). As a separate nationwide order issued by a different federal judge in Texas (Smith v. U.S. Department of the Treasury) still remains in place, reporting companies are not currently required to file beneficial ownership information with FinCEN despite the Supreme Court’s action in Texas Top Cop Shop. Reporting companies also are not subject to liability if they fail to file this information while the Smith order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports.”
Jan 23rd 2025 – U.S. Supreme Court
UPDATE: The Supreme Court has grant DOJ’s request for a stay in the Texas Top Cop Shop case but filings remain voluntary due to another case.
The Supreme Court has stayed the injunction in the Texas Top Cop Shop while the case is under appeal. This stay pauses a lower court’s nationwide injunction in this case, however, a stay from another case – Samantha Smith and Robert Means vs. U.S. Department of Treasury – remains and has currently suspended the effective date of filings. This means BOI filings remain voluntary currently until this other case is actioned further. This Supreme Court action does indicate early direction into how the higher courts are looking at the CTA.
Jan 23rd 2025 – U.S. Supreme Court
UPDATE: The Supreme Court has grant DOJ’s request for a stay in the Texas Top Cop Shop case but filings remain voluntary due to another case.
The Supreme Court has stayed the injunction in the Texas Top Cop Shop while the case is under appeal. This stay pauses a lower court’s nationwide injunction in this case, however, a stay from another case – Samantha Smith and Robert Means vs. U.S. Department of Treasury – remains and has currently suspended the effective date of filings. This means BOI filings remain voluntary currently until this other case is actioned further. This Supreme Court action does indicate early direction into how the higher courts are looking at the CTA.
Jan 10th 2025 – U.S. Supreme Court
UPDATE: All Parties File by 01/10 Deadline – Supreme Court to Rule on Stay as Next Step
No new arguments raised. The response opposes a stay of the injunction against the Corporate Transparency Act (CTA), asserting that the CTA exceeds federal authority, imposes burdensome compliance costs, and infringes constitutional rights. It argues that delaying enforcement prevents irreparable harm and preserves the status quo pending judicial review.
Jan 3rd 2025 – U.S. Supreme Court
CRITICAL UPDATE: Supreme Court Actions BOI Filing – Justice Samuel Alito Requests a Response by 01/10 from Texas Top Cop Shop to DOJ’s Request
The U.S. Supreme Court has officially commenced its involvement in the Corporate Transparency Act case brought forward by the Department of Justice this week with a new request by Justice Samuel Alito .
The Supreme Court has set a 4 p.m. deadline on January 10, 2025, for the plaintiffs in Texas Top Cop Shop to address the Department of Justice’s motion for a stay. This expedited timeline indicates that the Court is actively considering whether to lift the preliminary injunction currently halting the enforcement of BOI reporting requirements under the Corporate Transparency Act (CTA) with an expedited timeline.
A decision on the stay could potentially follow as early as the week of January 13, 2025, providing clarity on the immediate future of these reporting requirements. Should BOI reporting requirements go back into effect with a stay from the Supreme Court in mid-January, it’s likely that FinCEN would only extend filing deadlines until approximately the end of January based on prior extensions. It’s important to watch next updates closely.
Jan 1st 2025 – U.S. Supreme Court
CRITICAL UPDATE: DOJ Files with Supreme Court to Request a Stay
On 12/31, the U.S. Department of Justice (DOJ) has filed an emergency application with the Supreme Court seeking a stay of a district court’s nationwide injunction blocking enforcement of the Corporate Transparency Act (CTA). The DOJ argues the injunction disrupts efforts to combat financial crimes, protect national security, and maintain compliance with international standards. It requests that the Court either stay the injunction entirely or narrow its scope to cover only the plaintiffs in the case, emphasizing the CTA’s critical role in enabling law enforcement and national security operations. Decisions on emergency stay applications at this level are often made quickly—within days or weeks—especially when enforcement of laws is halted nationwide.
Dec 26th 2024 at 7pm – U.S. Court Of Appeals, Fifth Circuit:
Appeals Court Vacates the Stay Ahead of Expedited Oral Arguments
On December 26, 2024, the United States Court of Appeals for the Fifth Circuit vacated its December 23 stay that had temporarily restored enforcement and deadlines for the Corporate Transparency Act (CTA) and its Reporting Rule. This decision halts enforcement of the CTA (again) and maintains the district court’s nationwide injunction while the appellate court’s merits panel considers the substantive constitutional arguments on an expedited basis. FinCEN has updated their website to reinstate the “voluntary filing” language and continues to accept filings.
Any of the following could restore the stay and enforcement of the CTA:
Dec 23rd 2024 – U.S. Court Of Appeals, Fifth Circuit:
FinCEN Publishes Updated Deadline of Jan 13th
FinCEN released an update communicating that all reporting companies must resume filing beneficial ownership information (unless otherwise noted) and the Department of the Treasury recognizes the challenges caused by the recent injunction, thus the following deadline extensions apply:
Pre-2024 Existing Companies: Companies created or registered before January 1, 2024, must file their initial beneficial ownership reports by January 13, 2025 (instead of the original January 1, 2025 deadline).
September 4–December 23 newly-formed Companies: Companies created or registered on or after September 4, 2024, that had a filing deadline between December 3 and December 23, 2024, must file by January 13, 2025.
December 3–23 newly-formed Companies: Companies created or registered between December 3 and December 23, 2024, have an additional 21 days beyond their original filing deadline to submit their initial reports.
Disaster Relief: Companies qualifying for disaster relief may have deadlines beyond January 13, 2025; they should follow whichever deadline is later.
Dec 23rd 2024 – U.S. Court Of Appeals, Fifth Circuit:
CRITICAL UPDATE: The Fifth Circuit granted a temporary stay of the nationwide injunction against the Corporate Transparency Act (CTA), upholding its reporting requirements pending expedited appeal, with no mention of deadline extensions.
The Fifth Circuit Court of Appeals granted the government’s motion for a temporary stay of a district court’s nationwide injunction that blocked the Corporate Transparency Act (CTA) and its reporting requirements. The Fifth Circuit found the government likely to succeed in defending the CTA’s constitutionality and highlighted the public interest in combatting financial crimes. The appeal has been expedited for the next available oral argument panel in January.
Dec 19th 2024 – U.S. Court Of Appeals, Fifth Circuit:
FinCEN and DOJ File Their Final Arguments for the Stay of Injunction. If Granted, A Judicial Stay Could Lift the Injunction in the Coming Days.
FinCEN and DOJ file the below. The Fifth Circuit is reviewing an appeal related to the Corporate Transparency Act (CTA) as the government seeks an emergency stay of a lower court’s injunction. The government argues the CTA is a constitutional regulation of commercial entities and necessary for combating financial crimes like money laundering and terrorism financing. If the stay is granted, BOI filing requirements would be reinstated, but FinCEN’s approach to compliance deadlines remains uncertain. A ruling on the stay is most likely to happen anytime between 12/20 and 12/27.
Dec 18th 2024:
(Updated 12/23) National Spending Bill Mentioned Corporate Transparency Act Deadlines but this was removed.
The spending bill includes an amendment to extend the filing deadline for certain pre-existing reporting companies under the Corporate Transparency Act, changing the deadline to January 1, 2026, for companies established before January 1, 2024. This bill encompasses various provisions aimed at addressing regulatory updates, funding allocations, and operational directives across different government sectors and is moving ahead to keep the government funded. The addition of this language provides some baseline as to how deadlines for the CTA may adjust.
Dec 18th 2024 – Texas Eastern District Court:
The United States District Court for the Eastern District of Texas denied the government’s request to stay a preliminary injunction that halts the nationwide enforcement of the Corporate Transparency Act (CTA) and its reporting rule. This outcome was predictable, as the same judge who issued the original injunction based on constitutional grounds has now reaffirmed the decision by denying the stay request. The U.S. Court Of Appeals, Fifth Circuit upcoming ruling on this stay is more important to track as a next step.
Dec 16th 2024 – U.S. Court Of Appeals, Fifth Circuit:
The Fifth Circuit Court of Appeals has requested that the Appellees file a response to the government’s motion for a stay pending appeal by December 17, 2024, at 5:00 PM, and the Appellants (the government) file a reply by Thursday December 19, 2024, at 12:00 NOON. This update seems to indicate the court may try to rule on a potential stay of the order blocking CTA this week on Friday.
Dec 13th 2024 – U.S. Court Of Appeals, Fifth Circuit:
The government has filed an appeal, requesting a decision by December 27, 2024, to reverse a district court’s nationwide injunction blocking the Corporate Transparency Act (CTA) ahead of the January 1, 2025, compliance deadline. The appeal argues the CTA falls within Congress’s powers to regulate commerce and is essential for combating financial crimes like money laundering and terrorism financing. The government emphasizes that the balance of harms strongly supports maintaining the law’s reporting requirements while litigation proceeds.
Dec 12th 2024 – Texas Eastern District Court:
The U.S. District Court for the Eastern District of Texas has outlined a timeline for addressing the government’s request to stay the preliminary injunction on the Corporate Transparency Act (CTA). The court has given plaintiffs until December 16, 2024, to respond, ensuring due process is followed before a decision is made. This structured approach balances the urgency of the government’s appeal with procedural fairness as the January 1, 2025, compliance deadline approaches.
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