The National Federation of Independent Business (NFIB) has released new ads in California, urging Rep. Young Kim to permanently repeal the law that established the Beneficial Ownership Information (BOI) mandate. The NFIB is also calling for the Financial Crimes Enforcement Network (FinCEN) to immediately destroy all BOI data already submitted by U.S. small businesses.

Background on the BOI Mandate

In 2025, President Trump exempted more than 32 million American small businesses from the burdensome and unconstitutional BOI reporting requirements. This exemption saved American small businesses from over $128 billion in regulatory burdens and compliance costs. However, the NFIB believes that the fight is not over and that Congress must take immediate action to fully repeal the unconstitutional BOI law.

The NFIB continues to fight against Beneficial Ownership Information reporting regulations in Congress, executive branch agencies, and the federal courts, working to permanently block and repeal it. If not fully repealed, 32 million small businesses nationwide would once again be subjected to this unnecessary, invasive, and unconstitutional mandate. Those who fail to comply would be subject to criminal and civil penalties of up to two years in federal prison and up to $10,000.

Original reporting: NFIB (National Federation of Independent Business) — read the source article.