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newsdailygovernment
Landmark Rulings: Supreme Court Paves Way for Corporate Transparency Act Enforcement
About this Episode
As of the latest updates, the U.S. Supreme Court has been involved in several significant developments, particularly surrounding the Corporate Transparency Act (CTA) and other pending cases.
Recently, the court's actions have paved the way for the reinstatement of the CTA's reporting obligations. On February 18, 2025, a court lifted the last remaining nationwide injunction that had prevented the Financial Crimes Enforcement Network (FinCEN) from enforcing the CTA. This decision followed a January 23, 2025, order from the Supreme Court that allowed FinCEN to resume enforcement of the CTA's Beneficial Ownership Information (BOI) reporting requirements while an underlying case, *McHenry v. Texas Top Cop Shop*, continues to be litigated in the U.S. Court of Appeals for the Fifth Circuit.
As a result, FinCEN has extended the CTA reporting deadlines for most companies until March 21, 2025. This new deadline applies to companies formed before, during, and in 2025, with some exceptions for entities that qualify for extensions due to disaster relief or other reasons. FinCEN has also indicated plans to modify certain CTA requirements to alleviate filing burdens on lower-risk entities.
In addition to the CTA developments, the Supreme Court is set to issue one or more opinions from the current term on March 21, 2025. This is part of the court's regular schedule of releasing decisions, and it will be closely watched by legal observers and the public.
On the appellate front, the Fifth Circuit is handling the appeals in both *McHenry* and *Smith v. U.S. Department of the Treasury*, with an expedited briefing schedule and oral arguments scheduled for March 25, 2025. These cases are crucial as they will determine the constitutionality and implementation details of the CTA.
Thank you for listening to the SCOTUS News Tracker podcast. Don't forget to subscribe for the latest updates and in-depth analysis on U.S. Supreme Court news.
This content was created in partnership and with the help of Artificial Intelligence AI
Recently, the court's actions have paved the way for the reinstatement of the CTA's reporting obligations. On February 18, 2025, a court lifted the last remaining nationwide injunction that had prevented the Financial Crimes Enforcement Network (FinCEN) from enforcing the CTA. This decision followed a January 23, 2025, order from the Supreme Court that allowed FinCEN to resume enforcement of the CTA's Beneficial Ownership Information (BOI) reporting requirements while an underlying case, *McHenry v. Texas Top Cop Shop*, continues to be litigated in the U.S. Court of Appeals for the Fifth Circuit.
As a result, FinCEN has extended the CTA reporting deadlines for most companies until March 21, 2025. This new deadline applies to companies formed before, during, and in 2025, with some exceptions for entities that qualify for extensions due to disaster relief or other reasons. FinCEN has also indicated plans to modify certain CTA requirements to alleviate filing burdens on lower-risk entities.
In addition to the CTA developments, the Supreme Court is set to issue one or more opinions from the current term on March 21, 2025. This is part of the court's regular schedule of releasing decisions, and it will be closely watched by legal observers and the public.
On the appellate front, the Fifth Circuit is handling the appeals in both *McHenry* and *Smith v. U.S. Department of the Treasury*, with an expedited briefing schedule and oral arguments scheduled for March 25, 2025. These cases are crucial as they will determine the constitutionality and implementation details of the CTA.
Thank you for listening to the SCOTUS News Tracker podcast. Don't forget to subscribe for the latest updates and in-depth analysis on U.S. Supreme Court news.
This content was created in partnership and with the help of Artificial Intelligence AI
Hosts & Guests
No transcript available for this episode.
