US: Cattle association warns producers about returning filing requirements

The National Cattlemen’s Beef Association is warning cattle producers that Corporate Transparency Act filing requirements are back in effect following a court decision that reverses the injunction that previously halted this 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 jailtime,” said NCBA Executive Director of Government Affairs Kent Bacus. “FinCEN should do the right thing and provide a realistic delay to the Corporate Transparency Act until Congress has an opportunity to provide a permanent fix that protects family farmers and ranchers.” The Fifth Circuit Court of Appeals recently lifted a nationwide preliminary injunction on the enforcement of the Corporate Transparency Act, holding that the government is likely to prevail in a constitutional challenge. NCBA finds that this decision places many small ...