A significant legal development unfolded recently when the U.S. District Court for the Eastern District of Texas issued a nationwide injunction halting the enforcement of the Corporate Transparency Act (CTA) and its Beneficial Ownership Information (BOI) Reporting Rule. This ruling effectively postpones the requirement for businesses to submit initial BOI reports by the previously established deadline of January 1, 2025.

The popularity of private trust companies (PTCs) is on the rise, largely because they offer greater privacy, flexibility, and potential cost savings than alternatives such as family offices or corporate trustees.

Though the confidential nature of PTCs makes it challenging to pinpoint their exact numbers, estimates suggest that thousands operate across the United States, either independently or under the umbrella of bigger institutions