CTA UPDATE URGENT!

Late on Dec. 23rd, the Fifth Circuit Court of Appeals has granted a stay over the injunction issued by the U.S. District Court for the Eastern District of Texas earlier this month, and issued a court order reinstating the January 1, 2025, beneficial ownership information filing deadline under the Corporate Transparency Act (CTA) for all community associations. 

This continues to be a developing matter, but at the time of this communication all community associations should proceed to file their BOI reports by January 1, 2025. 

The Fifth Circuit Court of Appeals court order can be read here. This order is still not a final ruling on the CTA’s constitutionality. The Fifth Circuit also ordered that the appeal in this lawsuit be expedited to the next available oral argument panel. 

CAI is continuing to track movements in the federal courts over CTA challenges and is in contact with the United States Department of Treasury urging an administrative delay be issued due to the chaos and confusion created by these recent court rulings, Congress deciding NOT to take legislative action to extend the filing deadline, and the end of year holidays. 

Please continue to visit CAI’s Corporate Transparent Act webpage for ongoing updates and additional information.