The implementation of the Corporate Transparency Act (CTA) is currently suspended due to a nationwide injunction stemming from a Fifth Circuit decision. As of December 2024, the requirement for companies to file beneficial ownership information (BOI) is on hold, with U.S. Solicitor General Elizabeth Prelogar having submitted an urgent request to the Supreme Court on December 31, 2024, to lift this blockade. The request aims to eliminate the nationwide injunction that prevents new federal reporting requirements for companies registered in various states. The Financial Crimes Enforcement Network (FinCEN) is seeking a ruling from the Supreme Court regarding this injunction, which has rendered BOI reporting voluntary for the time being.