January 2025 Update: 2024 Federal Requirements for IL Social Workers

January 14, 2025 Developments

Litigation challenging CTA enforcement has continued over the past weeks. Effective December 26, 2024, CTA enforcement has been paused pursuant to an order from the Fifth Circuit reinstating the Texas federal court’s nationwide preliminary injunction. This means that reporting companies are still not currently required to file beneficial ownership information and filing deadlines are not being enforced.

Reporting companies are encouraged to monitor the FinCEN website for alerts concerning further updates to reporting requirements, as litigation remains ongoing.

Read the full article which includes a new FAQ about the preliminary injunction in the NASW Legal Defense Fund article, "Corporate Transparency Act" (NASW Membership required).