Three Days Later Fifth Circuit Vacates Their Ruling on BOI Injunction
You can't make this up. The Fifth Circuit yesterday changed their mind and vacated their lifting of the BOI reporting injunction.
The Eastern District of Texas in the Texas Top Cop Shop case placed a national injunction on the Beneficial Ownership Information (BOI) that was required under the Corporate Transparency Act.
On December 23, 2024, the Fifth Circuit overturned the injunction.
The same day, the Financial Crimes Enforcement Network (www.fincen.gov) granted an automatic extension to January 13, 2025, to file BOI reports for all entities created before 2024.
Yesterday, December 26, 2024, the Fifth Circuit vacated their original ruling lifting the injunction. This now means the injunction appears to be back on.
What does this mean. There is an expedited appeals process going on right now and we are assuming a ruling will be made very shortly. What the ruling will be only they know and based on their process so far, even they likely don’t know.
We will keep you posted.