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December 4, 2024
Corporate Transparency Act – Registration Requirements Placed on Hold by Federal Court
Written by Kenneth R. Sauter
A federal court has very recently issued a nationwide injunction against the application and enforcement of the Corporate Transparency Act (CTA). The court issued a preliminary injunction that puts a stop on the CTA reporting requirements, stating that the CTA reporting requirements cannot be enforced and that reporting companies (therefore including community association board members) are not required to comply with the January 1, 2025 deadline pending further order of the court. A copy of the court’s decision can be found in the attached link.
Community association board members are therefore not required at this time to register under the CTA. If any board member has registered, no further action (including any updating) is required at this time. We will continue to keep you apprised as additional information becomes available. Note that this is a temporary injunction, not permanent, and could change as further court proceedings are held.
The Hill Wallack Community Association team is here to help our clients navigate through this process. For further information, contact any of our team members: Ken Sauter, George Greatrex, Gregg Shivers, Michael Karpoff, Terry Kessler, Jenn Webb, Daria Janka, Effie Hibshman, John Bobber, and Chris Lugara.
Link to the full decision HERE
