BOI Filing Requirement Quashed by Texas Federal Court

But the Treasury Dept. is seeking a stay pending appeal

A Texas Federal Court has entered a nationwide injunction prohibiting the enforcement of the controversial Beneficial Ownership Information law, which requires most small businesses in the U.S. to provide the Treasury Department with detailed information about the companies' owners by the end of this year. The Court's 79-page Order is attached for those desiring the details. A more succinct summary can be found here:

Texas Court Halts BOI Reporting Deadline | Frazier & Deeter

The January 2025 deadline for beneficial ownership reporting has been suspended. Learn what this nationwide injunction means for businesses.

Frazier & Deeter - Award-winning, Top 50 accounting and advisory firm. We offer a full scope of tax, audit, internal controls and business transformation services for our clients, from Fortune Global 500 companies to growing small businessesNoa Levin

The Treasury Department has posted a notice on its website for filing BOI reports, indicating that for now BOI filings are voluntary. However, the Department is seeking a stay of the Order. SLN thinks the stay is not likely to be granted, because that would effectively overrule the Order. We should know by December 27th, the date by which Treasury says a stay should be entered to allow time for last minute filers. So, stay tuned.