Today, the U.S. Supreme Court stayed the order from the Fifth Circuit Court of Appeals that reinstated the lower court’s nationwide injunction against the beneficial ownership information (BOI) reporting requirement. (McHenry v. Texas Top Cop Shop, Inc. (January 23, 2025) U.S. Supreme Court, Case No. 24A653)
FinCEN has yet to issue any additional guidance after the U.S. Supreme Court’s ruling, so it is unclear at this point whether businesses will be required to comply with the BOI reporting mandate. We anticipate we will hear more from FinCEN and/or Congress shortly and will keep you apprised of any further developments.
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