Trucking news and briefs for Monday, March 24, 2025:
U.S. companies, individuals now exempt from business ownership reporting requirements
Following the U.S. Department of the Treasury’s announcement earlier this month that it will not enforce penalties against companies that do not report their beneficial ownership information (BOI), the Financial Crimes Enforcement Network (FinCEN) is issuing an interim final rule that completely removes the requirement for U.S.-based companies.
In that interim final rule, FinCEN is revising the definition of “reporting company” in its regulations to mean only those entities that are formed under the law of a foreign country and that have registered to do business in any U.S. state or tribal jurisdiction by filing a document with a secretary of state or similar office (formerly known as "foreign reporting companies"). FinCEN is also exempting entities previously known as “domestic reporting companies” from BOI reporting requirements.
Thus, through this interim final rule, all entities created in the United States -- including those previously known as “domestic reporting companies” -- and their beneficial owners will be exempt from the requirement to report BOI to FinCEN.
Foreign entities that meet the new definition of a “reporting company” and do not qualify for an exemption from the reporting requirements must report their BOI to FinCEN under new deadlines. These foreign entities, however, will not be required to report any U.S. persons as beneficial owners, and U.S. persons will not be required to report BOI with respect to any such entity for which they are a beneficial owner.
When the interim final rule is published in the Federal Register in the coming days, the following deadlines will apply for foreign entities that are reporting companies:
- Reporting companies registered to do business in the United States before the date of publication of the rule must file BOI reports no later than 30 days from that date.
- Reporting companies registered to do business in the United States on or after the date of publication of the rule have 30 calendar days to file an initial BOI report after receiving notice that their registration is effective.
FinCEN will accept comments on the interim final rule and intends to finalize the rule this year.
As reported over the course of the last year, small businesses were required by the Corporate Transparency Act to file their BOI with FinCEN. Legal challenges to the requirement, however, delayed deadlines and eventually led to the Treasury’s announcement this month.
[Related: Treasury suspends small-business ownership reporting requirement]
Charlotte opens truck parking locator assist tool
The City of Charlotte, North Carolina, has unveiled a new Commercial Truck Parking Tool with the aim of assisting truck drivers in locating legal parking throughout the city. The move follows reports over a number of years of aggressive towing and/or booting practices in private lots by some companies in the Charlotte metro area, and what city Media Relations Manager Lawrence Corley III said was the "increased number of trucks that were illegally parking within the city of Charlotte."
Corley noted the city's "Quality of Life" team had been focused on the issue given "thousands of citations, and now we have an educational tool to help [pro truckers] find locations that are legal for parking."
[Related: $6,000 for 16 miles: Viral video sparks outrage over 'predatory' truck tows]
The new tool doesn't include much as yet in terms of listed facilities, but its features are as follows:
- Searchable parking lots: Search by an address or use current location.
- Mobile accessibility: The tool is optimized for mobile devices.
- Parking lot availability survey: Parking lot owners can submit their information to be included in the tool, detailing costs and amenities such as gates, showers, and security features.
- Truck parking ordinances: The tool outlines Charlotte's local parking regulations, including fines and penalties for violations.
- Interactive heat map: A real-time map highlights commercial truck parking violations across Charlotte, helping drivers avoid high enforcement areas and locate authorized parking spaces.
As noted, lots that are in the system are entered in by the property owners themselves. Corley noted "the city isn’t curating and listing the lots, but we are offering the tool as a platform for lot owners and drivers to connect. Folks who are interested in listing their parking lots can fill out the parking lot submission form, which is located on the tool itself" right under the map of lots. Parking lot owners will "need to create an account" to fill out and submit the required form.
[Related: Tow company defends 'predatory' practices]
Love’s opens new Louisiana location
Love’s Travel Stops is expanding its network in the heart of Cajun country with the addition of a new travel stop in New Iberia, Louisiana.
Conveniently located between New Orleans and Lafayette, the travel stop sits just off Highway 90 at exit 128A. This is Love’s second store to open in 2025 and its 656th store nationwide.
With the opening of the New Iberia travel stop, truck drivers now have access to 63 additional truck parking spaces, five showers, a CAT scale and more along Highway 90.
The location includes a Love’s Fresh Kitchen concept with fresh food items such as sandwiches and salads prepared daily, and Godfather’s Pizza and Dunkin’ restaurants.
This location has space allocated for EV chargers, allowing Love’s to be able to quickly partner with local utility companies and install EV charging stations should there be customer demand.
Kenworth donates T680 for military veteran rookie trucker award
Kenworth, Fastport and the U.S. Chamber of Commerce Foundation’s Hiring Our Heroes initiative have announced they are again partnering in the search for America’s top rookie military veteran driver who successfully transitioned to the trucking industry following military service.
Under the “Transition Trucking: Driving for Excellence” recognition program, Kenworth will provide the grand prize for the 10th consecutive year. This year’s award is a T680 equipped with a 76-inch sleeper and the Paccar Powertrain featuring the Paccar MX-13 engine, Paccar TX-12 automated transmission and Paccar DX-40 tandem rear axles. The truck will be shown at the Mid-America Trucking Show beginning Thursday at the Kentucky Expo Center in Louisville at the Fastport booth, No. 39001.
The T680 features a Diamond VIT interior in slate gray with madrona accents and includes the latest in driver amenities. Both the driver and passenger seats are GT703 ultraleather seats that are fully heated and cooled. The T680 also includes the latest in driver assistance systems, including Kenworth's DigitalVision Mirrors, Bendix Fusion Adaptive Cruise Control (ACC) Stop and Auto Go, and Lane Keeping Assist with Torque Assisted Steering.
[Related: Kenworth discontinuing W900 models, T800W, and C500]
“The Mid-America Trucking Show is one of the largest heavy-duty trucking events and gatherings of industry professionals, enthusiasts, drivers, and the perfect place to reach potential Transition Trucking: Driving for Excellence Award nominees and nominators,” said Kyle Kimball, Kenworth director of marketing. “Kenworth is honored to participate in this life-changing initiative for the tenth consecutive year and we look forward to awarding our flagship T680 to a deserving military veteran at the end of this year.”
The top driver will be determined by an expert panel of judges. To qualify, drivers must meet eligibility requirements as specified in the official Transition Trucking: Driving for Excellence Award rules, including:
- Be a legal resident of the continental United States and military veteran or current/former member of the National Guard or Reserves
- Graduated from PTDI-certified, NAPFTDS or CVTA member driver training school, with a valid CDL
- Have been employed by any for-hire carrier or private fleet that has pledged to hire veterans and hired as a CDL driver after Jan. 1, 2024
Nominations open March 27, and the final deadline to submit applications will be June 20. Award semi-finalists will be announced on Aug. 4. Finalists will be invited to Columbus, Ohio, to tour the National Veterans Memorial and Museum and attend a reception, followed by a tour of the Kenworth Chillicothe manufacturing plant, where the finalists will be announced.
Public voting on the finalists will occur from Nov. 1-11. On Dec. 12, finalists will gather at the U.S. Chamber of Commerce, where the final award announcement will be made, and the winner will drive home in the Kenworth T680.
