美國司法部向美國第五巡迴上訴法院（第五巡迴法院）提出緊急動議，要求暫緩執行禁止《企業透明度法案》的全國性初步禁令，直至聯邦上訴法院對該禁令作出裁決。
該法案要求幾乎所有在美國運營的實體向美國財政部金融犯罪執法網絡（FinCEN）提交其受益所有權報告。2024年1月前已存在的實體必須在2025年1月前提交申請，但該法案的憲法地位受到了一些質疑。德州一家聯邦地區法院發布了一項全國性禁令，禁止財政部執行該法案的報告規則，直到此事得到全面審理。政府已提起上訴，要求撤銷禁令。然而，距離官方截止日期不到兩週，結果仍不明朗。
政府已要求第五巡迴法院於2024年12月27日前對該禁令作出裁決，「以確保受監管實體能夠意識到，如果禁令被擱置，他們有義務在2025年1月1日之前遵守禁令」。司法部要求，如果禁令不暫停，任何尚未報告的報告實體必須在原定期限之前報告。
第五巡迴法院對此作出回應，加快了對中止動議作出決定的報告時間。各方必須在 2024年12月19日之前提交有關該動議的完整簡報。
法院可能會採取以下三項措施之一：批准動議，在全國範圍內暫停對所有原告實施整個禁令；部分批准該動議，僅暫停在全國範圍內實施該禁令；或者完全駁回暫緩執行動議，在這種情況下，禁令將繼續有效，等待司法部上訴的結果。
Eversheds Sutherland 律師事務所表示：「由於全國範圍內的禁令影響巨大，法院通常會盡快對此類動議作出裁決。」 「儘管如此，由於 2024 年即將結束，假期即將來臨，第五巡迴法院可能不會在1月1日之前對該動議作出裁決。雖然財政部可能會調整提交報告的截止日期，但這並不能保證。」
許多律師事務所正在為尚未遵守該法案的商業實體提供建議，以確定其公司、企業或其他實體是否屬於該法案定義的「報告實體」，並確定其實際受益所有人以進行報告。 Cadwalader, Wickersham & Taft 評論道：「建議報告公司密切關注未來幾天的發展，以防1月1日的提交截止日期恢復。」
Bryan Cave Leighton Paisner法律公司還補充：「如果禁令被擱置或縮小，報告要求重新生效，那麼財政部可能會為企業提供寬限期，以遵守報告要求，從而有效地推遲年底的最後期限。」「該機構有過採取此類行動的先例......但該機構尚未表明是否會在本案中提供此類延期。」
Events move quickly in legal battle over US Corporate Transparency Act reporting deadline
The US Department of Justice has filed an emergency motion with the Fifth Circuit Court of Appeals (the Fifth Circuit), requesting that the nationwide preliminary injunction enjoining enforcement of the Corporate Transparency Act be stayed until the federal appeals court has ruled on it.
The Act requires almost all entities operating in the US to file reports of their beneficial ownership to the Department of the Treasury's Financial Crimes Enforcement Network (FinCEN). Entities that already existed by January 2024 have to file by January 2025, but several challenges have been brought against the Act's constitutional status. A federal district court in Texas has issued a nationwide injunction preventing the treasury from enforcing the Act’s reporting rules until the matter can be heard in full. The government has appealed, asking for this injunction to be set aside. However, the outcome is still unclear with the official deadline less than two weeks away.
The government has asked the Fifth Circuit to rule on the injunction no later than 27 December 2024, 'to ensure that regulated entities can be made aware of their obligation to comply before 1 January 2025 if the injunction is stayed'. The justice department has requested that any reporting entity that has not yet reported be required to do so by the original deadline if the injunction is not stayed.
The Fifth Circuit has responded by accelerating the briefing schedule for its decision on the motion for stay. The parties must submit full and complete briefings regarding the motion by 19 December 2024. The court could thus make a decision at any time in the coming days, possibly resulting in immediate reinstatement of the reporting obligation.
The court may do one of three things: grant the motion to stay the entire injunction nationwide and for all plaintiffs; partially grant the motion by staying only the nationwide application of the injunction; or deny the motion for stay entirely, in which case the injunction would remain in effect pending the outcome of the justice department's appeal.
'Courts generally try to rule on motions to stay nationwide injunctions quickly due to their sweeping effect', said law firm Eversheds Sutherland. 'Nevertheless, as it is nearing the end of 2024 with the holiday season upon us, it is possible that the Fifth Circuit will not rule on the motion prior to 1 January. While [the treasury] may adjust the deadline to file the reports, that is not guaranteed.'
Many law firms are advising business entities that have not yet complied with the Act to determine whether their company, corporation or other entity is a 'reporting entity' as defined in the Act and determine their beneficial owners for reporting purposes. 'Reporting companies are well-advised to closely monitor developments in the coming days in case the 1 January deadline for filing is revived', commented Cadwalader, Wickersham & Taft.
'If the injunction is stayed or narrowed such that the reporting requirement kicks back in, it is possible that [the treasury] will offer companies a grace period to comply with the reporting requirements, effectively pushing back the year-end deadline', added law firm Bryan Cave Leighton Paisner. 'There is precedent for such agency action...but the agency has not indicated whether it will offer such an extension in this case.'
Sources:
• Eversheds Sutherland
• Greenbaum, Rowe, Smith & Davis
• Cadwalader, Wickersham & Taft
• Bryan Cave Leighton Paisner
• STEP International News 11 December 2024: US government challenges injunction preventing enforcement of Corporate Transparency Act