In October, we reported in this REcap that some Brokerages may have a new federal reporting requirement in 2024.  Most registered business entities — LLCs and Corporations, not Sole Proprietors were compelled to file a beneficial ownership information report (BOI) by the end of the year with the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of Treasury. Full Article Here.  Hold on to your hats,  on December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction enjoining the federal government from enforcing the Corporate Transparency Act (CTA). NAR is reviewing the court order. Litigation continues and it is possible the federal government will appeal the preliminary injunction. NAR recommends that members consult legal counsel for legal advice regarding compliance and the implications of the preliminary injunction on their businesses. As of this writing, FinCEN’s BOI Reporting entity remains open and is accepting BOI Reports, despite the preliminary injunction prohibiting FinCEN from implementing or enforcing the CTA and BOI Reporting Rule.  Sandy Carroll will be attending an informational legal webinar next week on the injunction and will keep you posted.