Continuing the discussion from End FINCEN BOI:
This legislation is government overreach to the extreme and should be repealed immediately. This is one of the most intrusive pieces of legislation ever adopted targeting small business, the supposed backbone of the American economy. Remove regulations on small business, we have enough to deal with already.
Posted my thing about this back in early October at End FINCEN BOI - Small Biz Overreach
Not many are responding. I don’t think many are aware, sadly. Seems they will find out the hard way.
I have messaged my senators ans such on social media with no response. Inknow Carol Roth is working on getting it gone, but doesnt see much movement. It really is government overreach and needs to go when they exempt all the companies and industries with the time and resouces to do the money laundering.
Just saw this other topic. Yes I was unaware as were many who just found out about it. The only reason I heard about it is because the information was shared on a Trademark & Copyright group I am in on Facebook. They don’t want you to know about it so they can prosecute those who didn’t file by the January 1, 2025 deadline.
Based on my current understanding, it seems there’s only 10% compliance. I wouldn’t be surprised if the overwhelming majority of that is the companies that have been started since the start of 2024 and have 90 days to comply.
How many of you are filing? I am tempted to not file, just to see what happens. When everyone starts getting the “fine amount letters”, I think this will rise to the top of the heap of directives that needs to be killed.
I completely agree. Perhaps we can send a message on X directed to DOGE: Elon Musk, Vivek Ramswamy, and tag President Trump.
I posted it on X and tagged them. We shall see if there’s anything that comes of it.
I researched it. Congress passed a law that drove this registration, so it is not a case where an agency is trying to push through their own rules/laws. Congress would have to repeal the law in order to get rid of it.
Bit the bullet and went online yesterday to register 
Huge banner across the top that said “implementation on hold, pending litigation”…or something like that. It said there would be no penalty for not signing up by the end of the year. YAHOOOOOOO!!