FinCEN Reinstates and Resets CTA BIO Filings Deadline to March 21st
The nationwide injunction prohibiting enforcement of the Corporate Transparency Act (CTA) has been stayed; meaning, FinCEN will resume enforcement of the required beneficial ownership information (BOI) filings. Simply put, the CTA filing requirements are reinstated. FinCEN has issued a notice that reset the filing deadline for most companies to March 21, 2025. See the notice here: FinCEN Notice, FIN-2025-CTA1, 2/18/2025.
The law is springing back into force as Congress still works through potential legislation to delay the reporting deadlines by a year. The House last week unanimously passed legislation, H.R. 736, that would delay the CTA reporting requirements until January 1, 2026. In the Senate, a group of Republicans led by Senator Tim Scott (R-SC), have introduced a companion bill (S. 505).
The Trump Administration has continued to defend the CTA in court. The press is reporting that FinCEN said today that the Administration could revise the rules to reduce the compliance burden for “lower-risk entities, including many U.S. small businesses.” But there is no more clarity than comments. We will update you if there is any official action on those comments.
As a reminder, the CTA requires most small businesses in the United States to make a filing with FinCEN (see here: https://boiefiling.fincen.gov/). Each required entity must file a report containing the following information about the company:
Entity’s full legal name
Trade names
A complete current address
The jurisdiction it was formed in or jurisdiction in which a foreign company first registers
Internal Revenue Service Taxpayer Identification Number and Employer Identification Number
Information about each beneficial owner of the company, including this about each person:
Full legal name
Date of birth
Current business or residential address
A unique identifying number from an acceptable identification document (i.e., passport, driver’s license, etc.)
EMA partnered with Wolters Kluwer last year to prepare marketers to file through BizFilings’ BOI reporting tool which reduces filing times and errors through a streamlined, secure and automated workflow. BizFilings offers EMA member companies a 12 percent discount on BOI report filings. The discount can be accessed via a dedicated EMA-member landing page below.
| Click Here to Visit the EMA-Exclusive Landing Page to File your BOI Reports with our Special Discount Now |
EMA Secures Amended HOS Regulatory Relief for Heating Oil and Motor Fuels
Yesterday FMCSA amended its latest extension to the Regional
Emergency Declaration to include seven additional
states: Colorado, Iowa, Montana, Nebraska, North Dakota,
Virginia, and Wyoming. Notably, all other terms remain
unchanged, meaning EMA marketers continue to benefit from HOS relief for
transporting motor fuels and heating oil until either the emergency ends
or February 28, whichever comes first, in both the newly added and
previously covered jurisdictions: Connecticut, Delaware,
Florida, Kansas, Maine, Maryland, Massachusetts, New Hampshire, New
Jersey, New York, North Carolina, Pennsylvania, Rhode Island, Vermont,
and Wisconsin.
Additionally, Kentucky currently has broader regulatory
relief, including HOS limit exemptions, due to the Presidential
emergency in response to severe storms and flooding. Pursuant to 49 CFR
390.23(a), when the President declares an emergency under the Stafford
Act, automatic relief is granted from FMCSA Regulations 390 through 399.
See Presidential declaration: https://www.whitehouse.gov/presidential-actions/2025/02/president-donald-j-trump-approves-kentucky-emergency-declaration.
Important: The FMCSA regional waiver covers the interstate shipment of
heating fuels, gasoline, and diesel fuel in and out of the jurisdictions
listed in the waiver declaration. The relief does not cover intrastate
transportation. However, intrastate movement is covered by the relief if
it is part of an interstate shipment. Since interstate transportation is
defined based on the intent of the delivery of the commodity––not the
movement of the vehicle––there may be instances where transportation is
considered interstate even if the vehicle never leaves the state (e.g.,
from a port to a location within the same state).
Click
here to review and download FMCSA’s amended extension. For any
questions, contact EMA Vice President Sherri Stone or EMA
Regulatory Counsel Jeff
Leiter or Jorge
Roman.
Annual Tier II Reports Compliance Deadline
EMA Regulatory Counsel Contacts: Jeff Leiter, Jorge Roman
Pursuant to Section 312 of the Emergency Preparedness and Community Right-to-Know Act (EPCRA), Tier II chemical inventory reports for calendar year 2024 must be filed with the State Emergency Response Commission (SERC), Local Emergency Planning Committee (LEPC) and local fire department by March 1, 2025.
| Urge Lawmakers to Overturn California Waivers Allowing ICE Bans |
Urge Lawmakers to Overturn California Waivers Allowing Internal Combustion Engine Bans
EPA has transmitted to Congress the Biden Administration’s approval
of the Clean Air Act waiver for California's Advanced Clean Cars (ACC
II) rule, along with approved federal waivers for the State's clean
trucks and heavy-duty NOx rules, starting the clock for review of the
waivers by lawmakers under the Congressional Review Act (CRA). The CRA
move is strongly supported by EMA, and it was quickly endorsed by Senate
Environment and Public Works Committee Chair Shelley Moore Capito
(R-WV). The CRA allows Congress to review “rules” issued by federal
agencies, including EPA, before the rules take effect. Congress may
review a rule for a period of 60 days and then disapprove it using
special procedures, including a joint resolution of disapproval.
California’s ACC II rule includes a mandate for vehicle manufacturers to
sell increasing percentages of zero-emission vehicles in the State,
beginning in model year 2026, and culminating in a ban on internal
combustion engine-powered vehicles in 2035. To date, 17 states have
adopted portions of California’s light- and heavy-duty vehicle
regulations.
By design, California’s ACC II rules operate to reduce the liquid fuels
market by giving preferential treatment to electric vehicles, thereby
injuring energy marketers and others who participate in the market.
EPA’s waivers not only increase vehicle costs but also increase the
costs of goods and the cost of living for American families. EMA calls
on energy marketers to contact their Representatives and Senators,
urging them to support a CRA resolution of disapproval for the
California waivers and restoring vehicle choice for all Americans.
| Click Here to Take Action |
EMA Urges DOE, EPA, and OMB to Halt Residential Electrification Funds Pending Review
EMA Regulatory Counsel Contacts: Jeff Leiter, Jorge Roman
This week, EMA sent a letter to the Trump Administration urging a thorough review of residential electrification subsidies that distort markets and restrict consumer choice. Specifically, the letter requested that DOE Secretary Wright, EPA Administrator Zeldin, and OMB Director Vought halt the disbursement of IRA funds for the following programs pending executive and legislative review:
Electric Home Rebate Program, which discriminates against liquid-fired heating systems.
Greenhouse Gas Air Pollution Grants, which disrupt fuel markets in key regions like New England and Alaska.
Greenhouse Gas Reduction Fund, which creates an uneven playing field for liquid fuels by promoting the expansion of residential solar energy.
Defense Production Act’s Heat Pump Manufacturing Program, which distorts HVAC markets and impacts residential supply chains.
EMA urged this action as federal energy and environmental policy
shifts from carbon reduction to energy security and affordability.
“Walking the fuel-neutral line is not a viable alternative in the new
landscape. The Trump administration has set a clear path for the liquid
fuels market to thrive, unrestricted by costly electrification policies.
EMA stands ready to work with the administration to advance sensible
energy and environmental policies that preserve consumer choice, promote
energy security, reduce emissions, and, above all, support small energy
marketers nationwide.”
The Senate is driving the news in Washington this week as Members of the House are back in their home states for a district work period.
On Thursday, the Senate kicked off floor consideration of their “skinny” budget resolution on border security and military funding. Prior to final passage of the resolution the Senate will hold a “vote-a-rama” where Senators may offer an unlimited number of amendments on the resolution. The House is expected to vote on their own budget resolution next week. House Republican leaders – who can only afford to lose one Republican vote on the House floor – are continuing to whip votes in support of their resolution. However, House leaders received a significant boost from President Trump this week, who reiterated his support for the “one beautiful bill” approach adopted by the House. Senate Republicans, undaunted by President Trump’s comments, continue to view their proposal as a necessary backstop given the slim House majority.
The Senate continued its swift confirmation of key Trump Administration officials and is beginning to consider the last remaining cabinet-level nominees. This week’s Senate confirmations include Howard Lutnick for Secretary of Commerce and Kelly Loeffler for Administrator of the Small Business Administration.
Meanwhile, Congress continues to barrel toward the March 14 deadline to avert a federal government shutdown. This week, several congressional leaders suggested that time is running short to come to agreement on appropriations topline spending amounts. A further continuing resolution (CR) to fund the government past mid-March is increasingly likely.
On the other end of Pennsylvania Ave., President Trump continued to make headlines through executive actions. This week, President Trump announced a new 25% tariff on steel and aluminum imports into the United States will take effect on March 12. In addition, the White House announced it will also impose tariffs of at least 25% on automobile, semiconductor, and pharmaceutical imports in the coming months.
EMA’s Washington Conference and Day on the Hill 2025 Hotel Reservations and Registration Open!
EMA’s annual Washington Conference and Day on the Hill will be held
in Washington, DC from May 14-16 at The Mayflower
Hotel. Our industry continues to have many important legislative and
regulatory issues to discuss and the Day on the Hill remains the primary
focus of this conference.
The meeting will begin with an Opening Session / Issues Briefing / New
Attendee Orientation and Region meetings in the afternoon of May 14. Our
welcome reception, exclusively sponsored by EMA’s Board of
Directors Council Partner Federated Insurance, will include
EMA’s popular PAC “live” silent auction fundraiser (bidding and virtual
viewing through download of the C2Auction App on your mobile phone),
which concludes the day!
On the morning of May 15, marketers will head to Capitol Hill with their
Congressional delegations, after a buffet breakfast and issues briefing
for those who were not able to attend the opening session. There will be
a luncheon exclusively sponsored by EMA’s Board of Directors
Council Partner Altria Group Distribution Company at their
Corporate Offices on the Hill. On the evening of May 15, we will feature
our 2025 EMA Chair Jim Lipscomb along with honoring our other Past
Chairs in attendance. Our conference will conclude after the EMA Board
of Directors meet on May 16 following a buffet breakfast and committee
meetings.
EMA’s Washington DC Conference and Day on the Hill is also sponsored by
EMA’s Board of Directors Council Corporate sponsors
including Altria, Marathon, Reynolds, Phillip Morris International as
well as Executive Committee Council Corporate sponsors
Valero, StoneX, Shell, Chevron, CITGO, ExxonMobil, HF Sinclair, BP, and
AGI.
| Click Here to Register and Book your Hotel Room for EMA’s DC Conference and Day on the Hill |
Please make your room reservations now to attend this important and productive forum to meet with your members of Congress and network with other marketers from across the country! See you in DC this May!
California’s Push for Electric Trucks Sputters Under Trump | The New York Times
California’s EV Mandate Goes to Congress for Repeal | WSJ|OPINION
Trump formally establishes new energy council | The Hill
Trump Could Start a New Pipeline Fight | The Atlantic
USA EIA Forecasts Gasoline Price Drop in 2025 and 2026 | RIGZONE
Why Tesla's Stock Is Crashing Under Trump | Newsweek
Join FEMA’s Webinar on Pursuing Financial Resilience NOW
On March 18, 2025 FEMA will host a webinar on Disaster Resilience: Pursuing Financial Resilience NOW from 3:00 – 4:30 p.m. EST.
The Disaster Resilience: Pursuing Financial Resilience NOW session is a part of FEMA’s ongoing Small Business Disaster Preparedness Series aimed at sharing critical information and resources for small businesses to successfully navigate disaster recovery situations and build resiliency before, during, and after disasters. This session will focus on tools, resources, and knowledge needed to enhance financial preparedness before, during, and after disasters or other disruptive events. This session’s topics are individual financial preparedness and tools for enhancing business resiliency and business continuity and includes additional resources for maximizing disaster financial resiliency. If you have questions you would like to submit in advance, please email: OB3I@fema.dhs.gov.
Click Here to Register via Zoom
After registering, you will receive a confirmation email with instructions and a calendar reminder for joining the Session.
Questions? Please email OB3I@fema.dhs.gov.
Federated Insurance Risk Management Academy Webinar
Who Are Your Safest Drivers: Thursday, March 20, 2025, 2:00 p.m.
Eastern Daylight Time
Company drivers today face distractions unlike any in history, and poor driving behaviors put your company at risk. We’ll take a look into how you can recognize and promote safe driving through the use of our Federated DriveSAFESM telematics program.
What you will learn:
Why the safety of your drivers and others is so important to your business’ success
How it takes more than just a policy to get the message across and protect your business
How to help your drivers move from good to great
Advanced
registration required for this 30-minute webinar.
For additional information or to discuss this in further detail, please
feel free to contact your Federated
regional representative or EMA’s National Account Executive Jack West at 262.719.7750.
Federated is a Partner in EMA’s Board of Directors
Council.