Key Details About the Latest CTA Update

Key Details About the Latest CTA Update
Back to the articles page

Article by:

Jennifer Young, Esq.

Share This Post:

On February 18, Eastern District of Texas Judge Jeremy Kernodle reinstated the enforcement of the Corporate Transparency Act (CTA), reversing the injunction he issued a month prior. The future of the CTA was uncertain after a December 2024 ruling challenged the constitutionality of the CTA, issuing a preliminary injunction and halting enforcement nationwide. 

The Financial Crimes Enforcement Network (FinCEN) issued a notice on February 18, extending the filing deadline to March 21, 2025, to give companies time to comply with Beneficial Ownership Information (BOI) reporting obligations. In the notice, FinCEN stated that additional deadlines may be available to businesses, and entities already given an additional deadline must adhere to that date.

When Should I File?

According to FinCen, most companies must adhere to the upcoming deadline of March 21, 2025. If you are unsure if your business qualifies for an extension or is exempt, the latest deadlines from the February 18 FinCEN notice can be found below: 

New Deadline: Most companies must file their initial, updated, or corrected BOI report by March 21, 2025.

Possible Extension: FinCEN may update the deadline and allow more time if needed.

Later Deadlines Apply: If your company already has a later deadline (e.g., due to disaster relief extensions), follow that deadline instead.
Exemption: Businesses and individuals involved in the National Small Business United v. Yellen lawsuit (as of March 1, 2024) do not need to report their BOI at this time.

What’s Next?

If your business is affected by the Reporting Rule, it’s important to stay updated on the situation and consult your CTA advisor to determine your compliance timeline and prepare BOI reports. Our Corporate and Securities team is here to help with any questions about BOI filing deadlines and compliance. Click here to contact us today.

Questions about this article? Reach out to our team below.
Contact Us
RELATED
SEC rule changes affecting fund managers and investor eligibility

SEC Qualified Client Rule: What Fund Managers Need to Do Next

The SEC’s proposed increase to qualified client thresholds, raising the bar to $1.4 million in assets under management and $2.7 million in net worth, may look like a routine inflation adjustment. It isn’t. For fund managers, it’s a structural shift that directly narrows the pool of investors eligible for performance-based compensation, including carried interest, incentive allocations, and performance fees. Emerging managers, growth-stage sponsors, and funds reliant on high-net-worth individuals near the current threshold will feel the friction first, and those who wait to adapt will feel it most in their next raise.

April 15, 2026
risks of all-inclusive trust deeds in wrap mortgage transactions

The Hidden Risks of All-Inclusive Trust Deeds (AITDs) and Wrap Mortgages

All-Inclusive Trust Deeds (AITDs) and wraparound mortgages may seem like flexible alternatives to traditional financing, but they come with hidden risks that can cost both buyers and sellers dearly.
In an AITD, the buyer pays the seller, who remains liable for the underlying mortgage. This creates dangerous dependencies: sellers lose control over their credit, buyers risk losing the property even when payments are made on time, and both parties face potential foreclosure through due-on-sale clause enforcement.

April 15, 2026