{"id":60837,"date":"2025-01-31T22:13:12","date_gmt":"2025-01-31T22:13:12","guid":{"rendered":"https:\/\/peraltafinancing.com\/accounting\/not-so-fast-boi-injunction-is-back\/"},"modified":"2025-01-31T22:13:12","modified_gmt":"2025-01-31T22:13:12","slug":"not-so-fast-boi-injunction-is-back","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=60837","title":{"rendered":"Not So Fast \u2014 BOI Injunction Is Back!"},"content":{"rendered":"


\n<\/p>\n

\n

\t<\/p>\n

\n
\"\"<\/a><\/figure>\n

As of December 27,2024, the Fifth Circuit reversed their own stay<\/em><\/strong> while they\u2019re deciding the case. This means the injunction is back on and there\u2019s currently no enforceable BOI reporting requirement.<\/p>\n

More here from my colleague\u00a0Kelly Phillips Erb<\/a>\u00a0\u2014\u00a0In Whiplash Maneuver, Court Rules Beneficial Ownership Information (BOI) Reporting Requirements Are On Hold<\/a>.<\/p>\n

Apparently one panel of the Fifth Circuit decided to stay the injunction \u2014 but just a few days later, a different<\/em> panel of the same<\/em> U.S. Court of Appeals circuit issued an order vacating the December 23, 2024 order granting a stay of the preliminary injunction.<\/p>\n

This sounds weird \u2014 because it is \u2014 but basically, they \u201cstayed the stay\u201d (which is like a double-negative) of the injunction. Meaning the district court temporary hold on FinCEN being able to enforce the BOI reporting is still in place after all. Companies are not currently required to file beneficial ownership information with FinCEN.<\/p>\n

Therefore, anything in the original article<\/a> I published a few days ago is informational-only and BOI filing is currently voluntary per the\u00a0FinCEN website<\/a>.<\/p>\n

\"\"<\/a><\/figure>\n
\n
\n
\n
\n
\"\"<\/a><\/figure>\n<\/div>\n

If this or any other posts on the website were useful to you, and your financial situation permits it, please consider\u00a0contributing to my tip jar<\/a>. Ths allows me to continue to provide free accounting resources to small businesses who do not have the funds available to hire a CPA.<\/em><\/p>\n<\/div>\n<\/div><\/div>\n

<\/p>\n