On December 3, 2024, a federal district court enjoined enforcement of the Corporate Transparency Act (CTA), giving business owners relief from compliance. However, that relief was short-lived. On December 23, 2024, the Fifth Circuit Court of Appeals entered an order lifting the temporary injunction. That means business owners are again required to comply with the CTA and the deadlines to comply are short.
New Deadline is January 13, 2025 Fines are $591 per day for non-compliance.
Businesses (Corporations, LLCs, etc.) created through a filing with the Secretary of State are required to register with a federal agency known as FinCEN (the Financial Crimes Enforcement Network).
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