Federal Court Challenges the U.S. Corporate Transparency Act

The enforcement of the Corporate Transparency Act (CTA), which mandates certain business entities formed or registered to do business in the United States to report beneficial ownership information to the Treasury Department, was temporarily halted nationwide by a Texas federal court on 3 December 2024.

Our latest update breaks down the implications of this ruling, provides guidance for reporting companies, and outlines the steps you should take to stay prepared.