ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
Home Legal

Updated: FinCEN beneficial ownership registry deadline paused again

December 27, 2024
Reading Time: 2 mins read
FinCEN issues beneficial ownership rule, the first of three CTA mandates

The January deadline for covered businesses to register their beneficial ownership information is once again on hold following a Dec. 26 order from the Fifth Circuit Court of Appeals. The U.S. government has applied to the Supreme Court for a stay of the injunction, requesting it be lifted entirely, or in the alternative, limited only to the plaintiffs in the case.

According to an updated Jan. 2 statement from the Financial Crimes Enforcement Network: “In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports.”

On Dec. 23, the Fifth Circuit lifted a nationwide injunction issued by the district court judge earlier this month in a Texas lawsuit challenging the Corporate Transparency Act, which requires covered businesses to report their beneficial ownership information to FinCEN. In response to the Fifth Circuit effectively reinstating the requirement to file, FinCEN delayed to Jan. 13 the deadline for most businesses to file their initial beneficial ownership information. Businesses created or registered on or after Dec. 3, 2025, were provided an additional 21 days from their deadline to file. Deadlines for companies created or registered on or after Jan. 1, 2025, were unchanged, with only 30 days to file.

Three days later, “in order to preserve the constitutional status quo while the merits panel considers the parties’ weighty substantive arguments,” the panel of Fifth Circuit judges that will consider the merits of the government’s appeal of the preliminary injunction vacated that decision and once again enjoined enforcement of the reporting rule and CTA. In response, FinCEN updated their website and removed the language delaying the deadlines to report, and instead informing reporting companies they could report on a voluntary basis, but were not required to do so.

The lawsuit in Texas was filed by the National Federation of Independent Business and several of its members. The plaintiffs argued that the CTA exceeded Congress’ authority to regulate interstate commerce, that it violates the First Amendment by compelling speech and infringing freedom of association and that it violates the Fourth Amendment by forcing the disclosure of private information.

Bankers should monitor FinCEN’s BOI page for updates and revised instructions.

Tags: Beneficial ownershipFinCEN
ShareTweetPin

Related Posts

Consumer Sentiment declined in April

Consumer sentiment falls in October

Economy
October 9, 2026

The University of Michigan Consumer Sentiment Index decreased 3.7% in October compared to the month prior, landing at 46.3, according to preliminary results for the month.

Personal income increased in February

Fed survey finds increase in family income, financial stress

Economy
October 9, 2026

While most U.S. families experienced moderate increases in income and net worth in recent years, the share of families experiencing financial stress also grew, the Federal Reserve said in its triennial Survey of Consumer Finances.

ABA, associations seek data behind FHFA credit score modernization effort

FHA formalizes use of alternative credit scoring models

Mortgage
October 9, 2026

FHA published a mortgagee letter to formalize the use of VantageScore 4.0 and FICO Score 10T alongside Classic FICO to assess the creditworthiness of single-family mortgages, with the new policy taking effect at the start of the coming...

Report: More states creating restrictions on crypto ATMs

Crypto exchange agrees to shut down ‘crypto ATMs’ as part of settlement

Compliance and Risk
October 8, 2026

The cryptocurrency exchange Coinme has agreed to close down its virtual currency kiosk operations in multiple states as part of a settlement with 34 state financial regulatory authorities over alleged Bank Secrecy Act and anti-money laundering violations, according...

Consumer credit increased in March

Fed: Consumer credit increased 1.9% in August

Economy
October 8, 2026

Consumer credit increased at a seasonally adjusted annual rate of 1.9% in August, according to the Federal Reserve. Revolving credit decreased at an annual rate of 4.2%, while nonrevolving credit increased at an annual rate of 4.1%.

Mortgage rates fall

Mortgage rates rise

Economy
October 8, 2026

The rate for a 30-year fixed-rate mortgage was 7.4% this week. The rate for a 15-year fixed-rate mortgage was 6.73%.

NEWSBYTES

Consumer sentiment falls in October

October 9, 2026

Fed survey finds increase in family income, financial stress

October 9, 2026

FHA formalizes use of alternative credit scoring models

October 9, 2026

SPONSORED CONTENT

The Shift from Demographic Marketing

The Shift from Demographic Marketing

October 1, 2026
Meeting Ag Lending Goals Without Going It Alone

Meeting Ag Lending Goals Without Going It Alone

October 1, 2026
Beyond the Portfolio: The Wealth Manager’s New Role in a Multigenerational World

Beyond the Portfolio: The Wealth Manager’s New Role in a Multigenerational World

September 17, 2026
Banking Technology at a Strategic Crossroads

Banking Technology at a Strategic Crossroads

September 8, 2026

PODCASTS

Podcast: The birth of American money and how it triggered a revolution

October 8, 2026

Podcast: Creating seamless customer experiences

September 30, 2026

Podcast: Telling a different kind of story about community banks

September 28, 2026

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2026 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2026 American Bankers Association. All rights reserved.