Court of Appeals Reverses its Previous Reversal of the Preliminary Nationwide Injunction on BOI Reporting

12/27/2024 - The U.S. Court of Appeals for the 5th Circuit reversed its earlier decision to lift a nationwide injunction on the BOI reporting rules under the Corporate Transparency Act (CTA). This means the preliminary injunction is back in effect, and small businesses are not required to comply with the January 1, 2025, reporting deadline to FinCEN for now. The court's latest decision acknowledges potential constitutional issues with the CTA and provides a reprieve for small businesses while the case proceeds.