The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, released a new video featuring Iowa small business owner, Sondra Rierson. In the video, Rierson explains how the Beneficial Ownership Information (BOI) reporting requirement is burdensome for American small businesses. 

Watch NFIB’s new video here.

“The BOI [reporting requirement] is still written into federal law, and the penalty for failing to report is quite significant. It’s important that this be dealt with immediately and that the personal data be deleted immediately because American small businesses shouldn’t have to worry about the government coming after them when they’re just trying to employ people in our communities, take care of our families. We’re not large corporations with huge amount of stakeholders.”

For over six years, NFIB has fought against Beneficial Ownership Information reporting regulations in Congress, executive branch agencies, and the federal courts, working to permanently block and repeal it. If not fully repealed, 32 million small businesses nationwide could once again be subjected to this unnecessary, invasive, and unconstitutional mandate. Those who fail to comply would be subject to criminal and civil penalties of up to two years in federal prison and up to $10,000.