In response to the recent nationwide preliminary injunction filed by the U.S. District Court for the Eastern District of Texas, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued the following alert concerning the impact of ongoing litigation: 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.
You can find our alert that discusses the District Court’s preliminary injunction here.
