UPDATE: Beneficial Ownership Reporting Requirements Reinstated; New Deadline Jan. 13
The U.S. Court of Appeals for the Fifth Circuit yesterday stayed a previous order temporarily halting implementation of the Corporate Transparency Act (CTA) and its beneficial ownership reporting obligations for certain corporations and limited liability companies. As a result, reporting companies now must comply with the new requirements.
FinCEN, the enforcement agency for the rules, issued an alert extending the deadline to Jan. 13 from Jan. 1 in light of yesterday’s decision.
As reported in a recent NAHBNow blog post, on Dec. 3, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction temporary halting implementation of the CTA and its beneficial ownership reporting obligations. The district court’s decision effectively relieved reporting companies of their obligation to comply with the CTA’s Jan. 1, 2025, reporting deadline.
In a down-to-the-wire effort to preserve the Jan. 1 deadline, the Department of Justice (DOJ), on behalf of the Treasury Department and other federal defendants, immediately filed a notice of appeal with the Fifth Circuit. A few days later, DOJ followed up with an emergency motion seeking a stay of the district court’s injunction pending appeal.
The fifth circuit yesterday determined that the "government has demonstrated that a stay is warranted" and temporarily blocked enforcement of the lower district court's order and injunction pending appeal. The decision cited Congress's broad Commerce Clause authority to regulate entities engaged in commercial activities, the infliction of irreparable harm to the government, and a balance of equities favoring the public's urgent interest in combating financial crimes and national security versus the minimal reporting burden placed on reporting companies.
Although the Fifth Circuit order did not delay any reporting deadlines, FinCEN has since released an alert on the matter with reporting deadline extensions, including the new Jan. 13 date.
Latest from NAHBNow
Labor
Nov 12, 2025
How Employment in US Metros Has Recovered - Or Not - Post-COVIDThe story of employment loss and recovery across U.S. metro areas underscores the uneven geography of the COVID-19 economy. The resilience of local economies has since reshaped the post-pandemic landscape, revealing not only where recovery has taken root but also where it remains incomplete.
Advocacy
Nov 12, 2025
NAHB Urges House to Pass Senate Bill Reopening the GovernmentNAHB Chairman Buddy Hughes issued the following statement after the Senate approved legislation that would fund the government and the National Flood Insurance Program through Jan. 30, 2026.
Latest Economic News
Economics
Nov 13, 2025
Unchanged Lending Conditions for Residential Mortgages in Third QuarterLending standards for most types of residential mortgages were essentially unchanged, according to the recent release of the Senior Loan Officer Opinion Survey (SLOOS). For commercial real estate (CRE) loans, lending standards for construction & development were modestly tighter, while multifamily was essentially unchanged. Demand for both CRE categories was essentially unchanged for the quarter.
Economics
Nov 12, 2025
Adjustable-Rate Mortgage Applications RiseAll types of mortgage activity rose on a year-over-year basis in October, supported by recent declines in interest rates. Notably, adjustable-rate mortgage (ARM) applications more than doubled from a year ago, and refinancing activity continued to strengthen.
Economics
Nov 12, 2025
Employment Loss and Post-COVID Recovery Across U.S. Metro AreasIn April 2020, total payroll employment in the United States fell by an unprecedented 20.5 million, following a loss of 1.4 million in March, as the COVID-19 pandemic brought the economy to a sudden halt. The unemployment rate surged by 10.4 percentage points to 14.8% in April. It was the highest rate effectively since the Great Depression.