BOI injunction is back … anyone else tired of this back and forth?

Hot Discussion
1

The BOI reporting is paused again, and now it’s voluntary. Seems like every other day we get new updates on this. What’s the point if nothing is consistent?

https://www.reuters.com/legal/us-appeals-court-halts-enforcement-anti-money-laundering-law-2024-12-27/

>Dec 27 (Reuters) - A U.S. appeals court has halted enforcement of an anti-money laundering law that requires corporate entities to disclose the identities of their real beneficial owners to the U.S. Treasury Department ahead of a deadline for most companies to do so. The New Orleans-based 5th U.S. Circuit Court of Appeals late Thursday reinstated a nationwide injunction that had been issued earlier this month by a federal judge in Texas who had concluded the Corporate Transparency Act was unconstitutional.

2

BOI is such a mess. Can’t these people make up their minds?

3

Tyler said:
BOI is such a mess. Can’t these people make up their minds?

Is it BOI that’s the issue or the judges throwing out injunctions left and right?

4

Lee said:

Tyler said:
BOI is such a mess. Can’t these people make up their minds?

Is it BOI that’s the issue or the judges throwing out injunctions left and right?

The program is flawed. The lawmakers clearly didn’t think this through.

5

@Gray
Totally agree. HOAs shouldn’t have been dragged into this mess.

6

Wes said:
@Gray
Totally agree. HOAs shouldn’t have been dragged into this mess.

And why would casinos or foreign companies need access to sensitive documents like driver’s licenses?

7

Wes said:
@Gray
Totally agree. HOAs shouldn’t have been dragged into this mess.

As a treasurer for a small nonprofit, I’m in the same boat. The overlap with other requirements makes this redundant.

8

Lee said:

Tyler said:
BOI is such a mess. Can’t these people make up their minds?

Is it BOI that’s the issue or the judges throwing out injunctions left and right?

It’s a mess, no doubt about it.

9

Not surprised by the 5th Circuit. They seem eager to push this to the Supreme Court.

10

Xan said:
Not surprised by the 5th Circuit. They seem eager to push this to the Supreme Court.

I’m with you. It’s hard to follow what’s even happening anymore.

11

Xan said:
Not surprised by the 5th Circuit. They seem eager to push this to the Supreme Court.

So, does this mean you support BOI?

12

Flann said:

Xan said:
Not surprised by the 5th Circuit. They seem eager to push this to the Supreme Court.

So, does this mean you support BOI?

Not exactly. I’ll help clients comply if required, but the whole thing feels like overkill.

13

@Xan
Same here. I’ll file, but this isn’t going to catch the real criminals. They’re not filing anything, and FinCEN knows it.

14

At the very least, they should push the deadline back.

15

Ori said:
At the very least, they should push the deadline back.

It already got extended to January 13.

16

Wes said:

Ori said:
At the very least, they should push the deadline back.

It already got extended to January 13.

Actually, the latest news says March 25 is the new date for oral arguments. Nothing’s required before then.

17

Looks like the future president might not care much for BOI either. This could be the end of it.

18

Cade said:
Looks like the future president might not care much for BOI either. This could be the end of it.

Didn’t it start under their administration? Though I doubt they’re paying attention to the details.

19

@Jesse
Things have shifted since then. It’s not the same people running the show.

20

Zen said:
@Jesse
Things have shifted since then. It’s not the same people running the show.

I read that twice and still don’t know what you mean.