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CTA Update: U.S. Supreme Court Stayed Nationwide Injunction

January 24, 2025 General

On January 23, 2025, the US Supreme Court stayed the nationwide injunction issued by the court in the Texas Top Cop Shop, Inc. v. McHenry suit.  However, the requirement to file beneficial ownership information remains stayed.  As stated on the FinCen website: 

On January 23, 2025, the Supreme Court granted the government’s motion to stay a nationwide injunction issued by a federal judge in Texas (Texas Top Cop Shop, Inc. v. McHenry—formerly, Texas Top Cop Shop v. Garland). As a separate nationwide order issued by a different federal judge in Texas (Smith v. U.S. Department of the Treasury) still remains in place, reporting companies are not currently required to file beneficial ownership information with FinCEN despite the Supreme Court’s action in Texas Top Cop Shop. Reporting companies also are not subject to liability if they fail to file this information while the Smith order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports.

The website can be found at https://fincen.gov/boi.