Beneficial Ownership Reporting: Lawsuit Update

A new small business registry rule, known as beneficial ownership reporting, went into effect Jan. 1, requiring small businesses to report their beneficial owners to the U.S. Treasury Department’s Financial Crimes Enforcement Network by the end of the year. NFIB Small Business Legal Center Executive Director Beth Milito and Caleb Kruckenberg, the attorney in a District Court case challenging this law join to provide a legal update on where the case stands and what it means for small business as the compliance deadline nears. Listen for more information on the new small business reporting registry, penalties for not complying, and more about the scheduled hearing on this case.

Take Action: Add your voice to the fight to repeal this rule by customizing a message to your U.S. Senators and Representative.

Learn More: NFIB’s Beneficial Ownership Reporting fact sheet.

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