WASHINGTON, D.C. (Dec. 16, 2024) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, announced a new advertising campaign across several states featuring targeted radio ads and digital ads that urge Congress to pass the Repealing Big Brother Overreach Act. This legislation would overturn the Corporate Transparency Act (CTA) and the beneficial ownership information (BOI) reporting rule.

Listen to the new NFIB Beneficial Ownership Reporting Repeal ad here.

“December 31st marked the deadline Congress set for more than 32 million small businesses to file private and personal data with a new federal registry or face the possibility of up to two years in prison and a $10,000 fine,” said NFIB President Brad Close. “While this unconstitutional law was recently blocked by a federal court, Congress must make this victory permanent by passing the Repealing Big Brother Overreach Act to protect privacy and relieve small business owners from this dangerous law.”

In a lawsuit filed by NFIB, a federal court issued a preliminary injunction that blocks the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) from enforcing the CTA’s BOI reporting requirements. NFIB supports the Repealing Big Brother Overreach Act, legislation that would repeal the CTA and permanently relieve small businesses of the beneficial ownership requirements.