Last week, the US Supreme Court granted the Department of Justice's emergency plea, which would allow Beneficial Ownership Information filings to continue while various cases regarding the requirement are challenged in court. While the US Supreme Court lifted an injunction that blocked the requirement to report, the Court did not impose a filing deadline, instead leaving this decision to the Fifth Circuit Court of Appeals. Oral Arguments on this issue are expected to take place in March.
What does this mean for business owners? Keep your eyes peeled for updates on the Fifth Circuit’s decision and contact us for any more specific guidance.
