By admin 
On December 23, 2024, the Fifth Circuit Court of Appeals granted the Department of Justice’s request to vacate the December 3, 2024 order issued by the US District Court for the Eastern District of Texas in Texas. Top Cop Shop, Inc., et al. v. Garland, et al. Reporting companies are once again required to file beneficial ownership information reports with the Financial Crimes Enforcement Network (FinCEN). The original deadline for some reporting companies was January 1, 2025; However, FinCEN has extended the deadline for certain companies to accommodate this change:
- Companies incorporated or registered before January 1, 2024 now have until January 13, 2025 to file their initial reports containing beneficial ownership information with FinCEN.
- Companies incorporated or registered in the US on or after September 4, 2024, with original filing deadlines between December 3, 2024 and December 23, 2024, now have until January 13, 2025 to file.
- Companies incorporated or registered in the US between December 3, 2024 and December 23, 2024 have an additional 21 days to file.
FinCEN also notes the following special cases:
- Reporting companies eligible for emergency assistance may have their deadlines extended beyond January 13, 2025. These companies must adhere to the later deadline.
- As indicated in the warning “Notice regarding National Small Business United v. Yellen, No. 5:22-cv-01448 (ND Ala.)”, plaintiffs in National Small Business United v. Yellen, No. 5:22-cv-01448 (ND Ala.) – namely Isaac Winkles, reporting companies for which Isaac Winkles is the beneficial owner or applicant, the National Small Business Association, and members of the National Small Business Association (as of March 1, 2024) – are not currently required to report their beneficial ownership information to FinCEN.
Please note that for companies incorporated on or after January 1, 2025, the deadline remains 30 days after receipt of actual or public notice that their incorporation or registration is effective.