Judge Jeremy Kernodle of the US District Court for the Eastern District of Texas has issued a stay of the injunction against enforcement of the Beneficial Ownership Reports required by the Corporate Transparency Act he had previously issued in the case of Smith v. Treasury. He indicates the stay is being issued in light of the Supreme Court’s order in McHenry v. Texas Top Cop Shop, Inc.

The stay order can be downloaded via this link.

FinCEN had indicated that when this order was issued the agency planned to set a due date 30 days from the issuance of the stay and that the agency would consider potential changes to the Final Rule on reporting during the 30 days before the reports are due.

Separately, on February 10, 2025 the House of Representatives passed HR 736 - Protect Small Businesses from Excessive Paperwork Act of 2025 by a unanimous vote. The bill, if enacted into law, would delay the filing for entities in existence on January 1, 2024 until January 1, 2026 but would not impact entities formed in 2024 or 2025.