The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, today released new paid advertisements in Iowa featuring targeted radio ads and digital ads. The ads urge members of Congress to: Protect the privacy of small business owners by codifying into law President Trump’s order that American small businesses are exempt from the unconstitutional and invasive Beneficial Ownership Information (BOI) reporting rule; fully repeal the BOI law, and require the Financial Crimes Enforcement Network (FinCEN) to destroy all beneficial ownership information data already submitted by U.S. small businesses. 

Listen to the radio ad here and visit ProtectSmallBusiness.org  for up-to-date information on the campaign.

“President Trump’s announcement that America’s small businesses were exempt from enforcement of the unconstitutional and invasive Beneficial Ownership Information (BOI) reporting requirement was a huge victory for small business owners,” said NFIB President Brad Close. “Now the fight shifts to Congress; they must take immediate action to codify President Trump’s order into law, fully repeal the outrageous BOI law, and require FinCEN to destroy the data of the millions of small business owners who have already complied with this unconstitutional mandate.”

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 If not fully repealed, 32 million small businesses nationwide could once again be subjected to this unnecessary, invasive, and unconstitutional mandate.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.