While U.S. small businesses were exempt from reporting their sensitive Beneficial Ownership Information (BOI) to the Department of Treasury in 2025, the data of millions of small businesses who already filed remains in an unsecured government database. NFIB President Brad Close joined SiriusXM Patriot’s The David Webb Show to discuss the latest developments with BOI reporting and what Congress must do to finalize the permanent repeal of this dangerous and invasive law.

Without permanent relief, small business owners face significant fines and jail time for a paperwork violation if this law is reenacted by a future administration. Small business owners across the nation urge lawmakers to permanently destroy previously collected sensitive data and end the security and privacy nightmare for business owners.

“They estimated it’s going to save about $128 billion a year just in time, paperwork, and other staff work that small business owners would have to do to keep compliant with this law,” Close said. “And the problem is they don’t just file once. You have to file every time there’s a change in your ownership.”

Listen to the full interview for a closer look at the regulatory challenges small businesses are continuing to fight.

Take Action: Urge lawmakers to act now and permanently repeal BOI reporting for small businesses!