The Supreme Court lifted an injunction on the Corporate Transparency Act and its beneficial ownership information reporting requirement that had been imposed by a federal appeals court.
The U.S. Supreme Court has stayed the preliminary injunction in the Texas Top Cop Shop case, allowing FINCEN Beneficial Ownership Interest Reporting to proceed.
The stay of the nationwide injunction means that the government can enforce the beneficial ownership information reporting requirements, but it’s not clear what happens next.
The Corporate Transparency Act, which requires businesses to disclose ownership information, was blocked by a federal judge as beyond Congress’s authority.