How will the proposed "Illicit Cash Act" hurt small business owners?


The following is copied directly from NFIB's web page. You do not need to be a member of NFIB to oppose this ominous bill which will definitely hurt small business owners. Just read and click on the link to go to the page and take just a moment to sign the petition to oppose this.

Then, if you are a small business owner and would like more information, please use the "contact us form" somewhere on this page. I can work with you regardless what state you reside and run your business.

In the coming weeks, legislation will be considered in the Senate to require nearly every business with 20 or fewer employees to register the full legal names, dates of birth, addresses, and driver’s license numbers or passport numbers of business owners with the Financial Crimes Enforcement Network (FinCEN). This information will be stored in a government database and accessible to local, state, tribal, and federal law enforcement without a subpoena or warrant.

Tell Your Senators to Oppose Title IV of the ILLICIT CASH Act.  

The ILLICIT CASH Act requires businesses with 20 or fewer employees to file new reports with the Treasury Department's Financial Crimes Enforcement Network (FinCEN) with personal information on owners of the business and update those reports within 90 days of any ownership changes and within 1 year of any information changes, such as an address change. Failure to provide completed and updated reports could result in civil penalties of up to $10,000 and criminal penalties of up to 4 years in prison. CLICK HERE to voice your opposition. 

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