Managing Partner
Beneficial Ownership Information (BOI) reporting requirements remain temporarily suspended, following a whirlwind of reversals and reinstatements just days before the original January 1, 2025 reporting deadline.
On December 3, 2024, a federal district court issued an injunction temporarily suspending the BOI reporting requirements. The injunction was upheld on appeal, only to be vacated shortly thereafter by the Fifth Circuit Court of Appeals on December 26, 2024. Just days later, a different panel of the same court reinstated the injunction, once again suspending reporting requirements pending consideration of the parties’ arguments and further order from the court.
It is important to note that the BOI filing requirements have not been removed, but rather temporarily halted. Reporting remains voluntary at this time. However, reporting entities will need to track developments closely, as deadlines may return very quickly if the injunction is lifted again. Please contact our firm for additional information.
