The First Circuit Court of Appeals today lifted the stay on compliance with the Corporate Transparency Act (CTA), delivering a significant victory for the government. The court found that the government has a strong likelihood of success in defending the CTA’s constitutionality against pending challenges.

While the appeals process is ongoing and a final decision has not yet been reached, the court’s decision signals that the CTA’s compliance deadline remains in effect. FinCEN just advised that the January 1, 2025 deadline for most entities has been moved a few days more to January 13, 2025. Entities required to comply with the CTA should therefore ensure they meet this deadline. Failure to do so could result in severe penalties, and it is unclear whether the government will offer any leniency to non-compliant entities.

If your board hasn’t complied, visit www.ballotmanagement.com to comply right away before the $591 a day fines start after January 13, 2025.

Here is the decision.