ACTUALIZACIÓN: La Ley de Transparencia Corporativa y la Orden Judicial Preliminar a nivel nacional del Tribunal de Texas

On December 5, 2024, the Department of Justice, on behalf of FinCEN, filed a Notice of Appeal from the nationwide preliminary injunction issued in Texas Top Cop Shop, Inc., et al. v. Garland, et al., No. 4:24-cv-00478 (E.D. Tex.), which enjoined the Corporate Transparency Act (CTA) and its implementing regulations, and stayed the upcoming deadline to comply with the CTA’s reporting requirements.

Around the same time, FinCEN updated its website with an “Alert” that acknowledges the nationwide preliminary injunction and states, in relevant part:

While this litigation is ongoing, FinCEN will comply with the

order issued by the U.S. District Court for the Eastern District

of Texas for as long as it remains in effect. Therefore, reporting companies are not currently required to file their beneficial

ownership information with FinCEN and will not be subject to

liability if they fail to do so while the preliminary injunction remains

in effect.

FinCEN’s alert goes on to note that reporting companies may voluntarily submit beneficial ownership information reports while the nationwide injunction remains in effect. The nationwide injunction will remain in effect unless either U.S. District Court for the Eastern District of Texas rescinds the injunction or the U.S. Court of Appeals for the Fifth Circuit (which will hear the appeal)

or U.S. Supreme Court stays or overturns the Texas lower court’s injunction.

A copy of the FinCEN Alert can be accessed here.

Affected companies should continue to stay alert for updates on this litigation and FinCEN guidance, and contact their counsel for advice on next steps.