A nationwide injunction has temporarily halted the enforcement of Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA). This comes shortly before the upcoming deadline of January 1, 2025 to report their beneficial owners to the Financial Crimes Enforcement Network (FinCEN). For now, the January compliance deadline for entities created before 2024, along with the different deadlines set for newer entities, are temporarily paused. This means that businesses are temporarily relieved from the obligation to file their BOI, following the court’s decision. However, this is not a complete abolition of the reporting requirements. While the filing obligation is on hold, the situation is fluid and can change. I am committed to keeping my clients informed and will be closely monitoring the ongoing developments related to the BOI reporting requirements.