The undersigned organizations, representing millions of Main Street businesses operating in every industry and community in America, applaud the Department for its swift action in pausing the Corporate Transparency Act’s (CTA) reporting requirements while a nationwide court order remains in place, and respectfully ask that you strengthen this action by administratively extending the CTA filing deadline until at least January 1, 2026. The CTA was designed to help law enforcement prevent money laundering by requiring shell companies to report and regularly update information regarding their beneficial owners (BOI) to Treasury. The law’s definition of a shell company, however, is ridiculously broad. By FinCEN’s own estimates, it initially covers 32 million legal entities with 20 or fewer employees or $5 million or less in revenues – in other words, nearly every small business in the United States.