The National Cattlemen’s Beef Association is reminding all producers that the Corporate Transparency Act filing requirements are back in effect.  A recent court of appeals decision reversed an injunction that previously had stopped the mandate.

 

“The Corporate Transparency Act requires millions of family farmers and ranchers to file complex paperwork and disclose beneficial ownership information with the federal government under penalty of severe fines and jail time,” said NCBA Executive Director of Government Affairs Kent Bacus.

 

In light of the overturned injunction, the Financial Crimes Enforcement Network announced it will delay enforcement of the CTA until January 13th.

 

NCBA and other groups said this delay doesn’t allow enough time for millions of small businesses to comply with the law, and it’s deeply concerning that FinCEN will proceed with enforcing the law when it has failed to give adequate notice and instructions to law-abiding family business owners.

 

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