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

WASHINGTON, D.C. - U.S. Senator Jerry Moran (R-Kan.) 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 Sen 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 Sen. 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."

The full letter can be read here and below.

Director Gacki:

I write today with concern on behalf of rural Kansans who do not have access to a secure, dependable internet connection. 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. 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. In turn, I urge you to allow businesses to transmit these forms through the United States Postal Service (USPS).

Considering the harsh penalties associated with a failure to file, FinCEN would essentially be penalizing Americans for operating their businesses in areas that do not have reliable internet access. 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. 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.

Prudent regulation is necessary to ensure a level playing field for businesses of all sizes, and it should be the goal of federal agencies to maximize the compliance capabilities of the entities they regulate. I look forward to a resolution of this problem for rural businesses, and would request a response no later than Friday, December 6th. Thank you for your attention to this important matter.

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