The latest installment of the Corporate Transparency Act (CTA) saga occurred today, January 23, 2025, when the U.S. Supreme Court reinstated the CTA beneficial owner information (BOI) reporting requirements, pending appeal on the merits of the underlying lawsuit. Previously, a nationwide injunction was entered, temporarily halting enforcement of the CTA.
In the interim, federal legislation has been introduced to repeal the CTA in its entirety. H.R. 425 and S. 100 represent joint efforts by the federal House and Senate to preclude what many perceive as governmental overreach that precipitated a plethora of lawsuits challenging the constitutionality of the CTA. For more information on the CTA, check out this blog. If you have any specific questions regarding the CTA and your common interest community, please contact your community’s legal counsel.
