Corporate Transparency Act Enforcement Suspended Once Again

After having issued a ruling lifting the nationwide injunction on December 23, on December 26, the Fifth Circuit Court of Appeals vacated its December 23 order to stay the preliminary injunction against enforcement of the Corporate Transparency Act ("CTA").  With the preliminary injunction reinstated, non-exempt reporting companies will not have to comply with CTA's filing requirements as of now. 

What's Next?

The Fifth Circuit will likely next determine on the merits whether the preliminary injunction will be upheld. Given the uncertainty created by this series of decisions, it may be prudent to gather the information needed to meet the reporting requirements of the CTA in case CTA enforcement is reinstated. The attorneys here at Stone Pigman are following the latest developments and will provide further updates as the case progresses.