Stay Informed

More than 230,000 farms face a Jan. 1, 2025, deadline to file their Beneficial Ownership Information (BOI) with the Treasury Department under the requirements of the Corporate Transparency Act (CTA).

A bipartisan amendment included in the 2021 National Defense Authorization Act as part of the Anti-Money Laundering Act, the CTA requires reporting companies, including small businesses and farms, to identify “beneficial owners” who own at least 25% of the company or exercise “substantial control” over the company.

You can find tips and information on who needs to file from the Main Street Employers Coalition, mainstreetemployers.org – an organization of which the American Farm Bureau Federation is a member. More can be found at fincen.gov/boi.

For questions, email Brantley Seifers, INFB director of national government affairs, bseifers@infb.org.