From the U.S. Treasury, Financial Crimes Enforcement Network (FinCEN) on January 24, 2025:
In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports.
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On January 23, 2025, the Supreme Court granted the government’s motion to stay a nationwide injunction issued by a federal judge in Texas (Texas Top Cop Shop, Inc. v. McHenry—formerly, Texas Top Cop Shop v. Garland). As a separate nationwide order issued by a different federal judge in Texas (Smith v. U.S. Department of the Treasury) still remains in place, reporting companies are not currently required to file beneficial ownership information with FinCEN despite the Supreme Court’s action in Texas Top Cop Shop. Reporting companies also are not subject to liability if they fail to file this information while the Smithorder remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports.
The decision on whether or not Corporations need to file beneficial ownership information has changed many times in the last three months with court orders. We’ll keep you informed if the status on this is changed again. Please click HERE to go to the FinCEN website for more information.