Client Alerts & Insights
Fifth Circuit Revives Corporate Transparency Act, Filing Deadlines Reinstated
December 23, 2024
As we previously reported, on December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction blocking the U.S. Department of Treasury from enforcing the Corporate Transparency Act’s (CTA) new beneficial ownership information (BOI) reporting requirements. Texas Top Cop Shop v Garland et al., 4:24-cv-00478 (Dec. 3, 2024). Then, on December 10, 2024, FinCEN alerted businesses that they did not need to report BOI while that ruling was in effect.
But, on December 23, 2024, the Fifth Circuit Court of Appeals stayed the Eastern District of Texas preliminary injunction, restoring the January 1, 2025, initial filing deadline.
The situation is rapidly evolving, and it is likely that challengers to the CTA will seek further review form the Fifth Circuit or from the Supreme Court in the coming days.
At this time, FinCEN has not extended filing deadlines. Companies required to file a beneficial ownership information report with FinCEN should do so by January 1, 2025.
Due to the uncertainty surrounding the CTA’s fate, companies should continue working with knowledgeable counsel to comply with BOI reporting requirements. If you have questions regarding the CTA or the impact of the Texas Top Cop Shop decision, the White Collar and Corporate & Securities Practice Groups at Benesch are here to help.
Marisa T. Darden at mdarden@beneschlaw.com or 216.363.4440.
Robert J. Kolansky at rkolansky@beneschlaw.com or 216.363.4575.
Jennifer L. Stapleton at jstapleton@beneschlaw.com or 216.363.4428.
Connie A. Porter at cporter@beneschlaw.com or 216.363.4433.
Latest News
The Headline Problem in Defamation Law: A Proposal for Fixing Illinois’ and Ohio’s Outdated Innocent Construction Rule
Defamation lawsuits are on the rise in the United States, and have been for several years. Because defamation litigation is so increasingly relied upon as a means to address reputational injury, it is appropriate to examine whether the doctrines that govern defamation are fit to address the realities of modern information transmission
Where AI Regulation Stands Today
On March 20, 2026, the White House released its National Artificial Intelligence Legislative Framework addressing six key objectives.
No More Early Gatekeeping: Ninth Circuit Clarifies Timing for Trade Secret Identification Under DTSA
What used to be (and is) a longstanding tension in trade secret cases—when plaintiffs must identify misappropriated trade secrets—is heading closer to a bright-line rule, at least in the Ninth Circuit.
Increased CARB Enforcement of Diesel Transport Refrigeration Units (TRUs) Rocks Transporters and Receivers of Refrigerated Shipments in California
The California Air Resources Board (CARB) is expected to ramp up enforcement of the amended Airborne Toxic Control Measure for In-Use Diesel-Fueled Transport Refrigeration Units. These rules impose registration, reporting and compliance obligations on both TRU owners and the facilities that receive refrigerated shipments.