WASHINGTON D.C. – Today, the American Free Enterprise Chamber of Commerce (AmFree Chamber) issued the following statement praising the Trump Administration’s narrowing of the Beneficial Ownership Information (BOI) reporting requirement under the Corporate Transparency Act (CTA):
“At long last, America’s small business community can breathe easier knowing that this invasive and unconstitutional Biden era mandate is finally dead,” said Rob Engstrom, President of AmFree Chamber. “In pursuit of our next Golden Age, President Trump is wise to roll back the thicket of onerous red tape, especially those like the CTA that unfairly target small businesses and entrepreneurs. Terminating the CTA is a major win for free enterprise.”
Over the weekend, the U.S. Treasury Department announced suspension of the March 21, 2025 deadline for filing under the CTA for any domestic companies or U.S. citizens. Under previous BOI reporting requirements, reporting companies must submit details including beneficiary’s name, date of birth, address, and identifying information from an official document such as a passport or driver’s license. Large companies with more than 20 full-time employees and more than $5 million in revenue are exempt from the reporting rules.
About the AmFree Chamber
The American Free Enterprise Chamber of Commerce (AmFree Chamber) is a trade organization representing American businesses of all sizes in all 50 states. It is dedicated to advancing the principles of free enterprise, free markets, limited government, and American leadership globally.
AmFree Chamber has 15,000 members representing dozens of industries and from across the United States. Since its founding in 2022, AmFree Chamber has aggressively represented its members’ interests through legislative outreach, regulatory comments, and judicial briefing.
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