Loading...
Market
Will over 50% of businesses comply with CTA BOI filing by Jan 13, 2025?
2
Corporate Transparency Act•5th Circuit•Beneficial Ownership Information•Financial Crimes Enforcement Network•FinCEN
Resolution / Starting Odds
Yes • 50%
No • 50%
Reports from FinCEN or relevant government bodies
Story
Fifth Circuit Reinstates Corporate Transparency Act, Extends BOI Filing Deadline to Jan 13, 2025
Dec 23, 2024, 11:10 PM
The U.S. Court of Appeals for the Fifth Circuit has reinstated the enforcement of the Corporate Transparency Act (CTA), reversing a lower court's nationwide preliminary injunction. This decision by the 5th Circuit means that the requirement for businesses to file Beneficial Ownership Information (BOI) reports with the Financial Crimes Enforcement Network (FinCEN) is back in effect. The CTA, aimed at combating financial crime and enhancing national security, mandates that small businesses disclose personal information about their beneficial owners to FinCEN. The ruling comes just days before the January 1, 2025, deadline for companies existing before January 1, 2024, to comply. In response to the ruling, FinCEN has extended the filing deadline to January 13, 2025, to provide businesses with additional time to meet the new requirements.
View original story
Similar markets
Less than 50% • 25%
50% to 75% • 25%
75% to 90% • 25%
More than 90% • 25%
Lack of awareness • 25%
Technical difficulties • 25%
Legal challenges • 25%
Other • 25%
Finance • 25%
Technology • 25%
Healthcare • 25%
Manufacturing • 25%
California • 25%
Texas • 25%
New York • 25%
Florida • 25%
High compliance (>80%) • 25%
Moderate compliance (50-80%) • 25%
Low compliance (20-50%) • 25%
Very low compliance (<20%) • 25%
Support Elimination • 25%
Support Modification • 25%
Oppose Changes • 25%
No Public Stance • 25%
Financial Services • 25%
Real Estate • 25%
Technology • 25%
Retail • 25%
Fully enforced • 25%
Partially enforced • 25%
Not enforced • 25%
Modified enforcement • 25%
Less than 50% • 33%
50% to 75% • 33%
More than 75% • 34%
