On Sunday, March 2, the U.S. Department of Treasury announced that it will not enforce any penalties or fines associated with the beneficial ownership information (BOI) reporting requirements put into place under the Corporate Transparency Act (CTA). Since the CTA passed, the BOI requirements have been the subject of multiple lawsuits resulting in several delays and reinstatements. Prior to the Treasury’s announcement, the deadline to comply was March 21, 2025. The press release announcing the suspension also stated that “not only will it not enforce any penalties or fines associated with the beneficial ownership information reporting rule under the existing regulatory deadlines, but it will further not enforce any penalties or fines against U.S. citizens or domestic reporting companies or their beneficial owners after the forthcoming rule changes take effect either.”

Earlier this year the Brewers Association (BA) joined a letter supporting the repeal of the BOI requirements in the CTA due to upfront costs to small business owners, the excessive penalties, and the fact that small and independent breweries already must provide similar ownership information to the Alcohol and Tobacco Tax and Trade Bureau.

The BA and our members support compliance and reasonable regulation but the BOI filing requirement under the CTA is redundant and its penalties draconian. The Treasury’s decision not to enforce these requirements is a step in the right direction, but without a legislative fix, the requirements could be enforced at a later date or by a different administration. We will continue to support legislative efforts to repeal the requirements altogether.

Additional information about the CTA:

• Brewers Association Supports Repeal of Corporate Transparency Act
• Treasury Department Announces Suspension of Enforcement of Corporate Transparency Act Against U.S. Citizens and Domestic Reporting Companies