Senator Moran Requests Mail-In Options to Help Rural Businesses Comply with New Federal Regulations

US Senator Jerry Moran of Kansas called on Director of the Financial Crimes Enforcement Network Andrea Gacki to allow rural business owners to submit their beneficial ownership information (BOI) through the United States Postal Service (USPS) instead of using the current BOI E-Filing due to broadband connectivity issues across the United States.

"On January 1, 2024, the Financial Crimes Enforcement Network (FinCEN) launched its beneficial ownership information (BOI) E-Filing website so that companies may report their information digitally to comply with the Corporate Transparency Act," wrote Senator Moran. "While an online method will suffice for many companies across Kansas and the United States, this system alienates the many rural businesses unable to access a reliable broadband connection."

"Federal Communications Commission data estimates that more than one in five Americans in rural areas and nearly three in ten Tribal residents lack access to a dependable broadband connection," continued Senator Moran. "Given the existing burdensome regulatory environment that our economy currently operates under, allowing rural business owners to submit these forms through USPS would help level the playing field for mom-and-pop businesses in our nation's smallest towns."

(Information courtesy Senator Moran's Office.)