Federal Agency: Small Businesses Don’t Have to File Beneficial Ownership Reports

A court order blocking the Corporate Transparency Act remains in effect, a federal agency says.

The U.S. Treasury Department building in Washington on June 6, 2019. Patrick Semansky/AP Photo

Small businesses do not need to file beneficial ownership reports despite a recent U.S. Supreme Court ruling lifting a lower court injunction blocking the reporting requirement, according to a federal agency.

This is because a separate court injunction halting enforcement of the law remains in effect, the Financial Crimes Enforcement Network (FinCEN) announced on Jan. 24.