Trucking news and briefs for Thursday, Feb. 20, 2025:
Finance-crimes network’s business information reporting requirement returns
After nearly a year of back and forth amid legal challenges, a U.S. District Court in Texas has lifted an injunction that will now allow the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) to enforce the Corporate Transparency Act.
In doing so, “beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act (CTA) are once again back in effect,” FinCEN said in a notice published Feb. 18.
On Jan. 7, 2025, the U.S. District Court for the Eastern District of Texas issued an order staying FinCEN’s regulations implementing the BOI reporting requirements, precluding FinCEN from requiring BOI reporting or otherwise enforcing the CTA’s requirements.
On Feb. 5, the U.S. Department of Justice -- on behalf of Treasury -- filed a notice of appeal of the district court’s order and, in parallel, requested a stay of the order during the appeal.
On Feb. 18, the court agreed to stay its Jan. 7 order until the appeal is completed. As a result, subject to any applicable court orders, BOI reporting is now mandatory.
As previously reported, under the CTA, all existing LLCs and other small businesses required to register with their secretaries of state are required to report their BOI to FinCEN, identifying owners and more.
The requirement has been mired in legal challenges since it was put into effect early last year. With the lifting of the injunction this week, FinCEN is now requiring businesses to report their BOI by March 21. The Treasury noted, however, that in keeping with its “commitment to reducing regulatory burden on businesses, during this 30-day period FinCEN will assess its options to further modify deadlines, while prioritizing reporting for those entities that pose the most significant national security risks.”
FinCEN said it will provide an update before the March 21 deadline of any changes to the deadline.
Reporting companies can report their beneficial ownership information directly to FinCEN, free of charge, using FinCEN’s E-Filing system here. More information about BOI filing is available here.
[Related: Financial Crimes Enforcement Network's new reporting requirement hits owner-operators, small fleets]
I-17 revamp continues with another weekend closure
The northbound lanes of Interstate 17 are scheduled to be closed near Happy Valley Road in north Phoenix this weekend, Feb. 21-24, for pavement and bridge improvements, according to the Arizona Department of Transportation.
Drivers should allow extra travel time and consider adjusting travel schedules, ADOT added.
NB lanes will be closed between Happy Valley Road and Loop 303 from 10 p.m. Friday, Feb. 21, to 5 a.m. Monday, Feb. 24. The NB I-17 on-ramps at Deer Valley, Pinnacle Peak, Happy Valley and Jomax roads will also be closed.
Traffic will detour on WB Happy Valley Road to NB Lake Pleasant Parkway and EB Loop 303.
After this weekend’s closure, there is currently one more closure planned for the area to take place next weekend, Feb. 28-March 3, on the SB side of the interstate.
Drugs found hidden in flatbed floor in two separate busts
U.S. Customs and Border Protection officers at the Tecate, California, Port of Entry found drugs hidden in the floor of flatbed trailers in two separate incidents just days apart.
In the flatbed pictured here, 37 packages tested positive for methamphetamine weighing 697 lbs., and 28 packages field tested positive for cocaine weighing a total of 73 pounds.U.S. Customs and Border Protection
In the secondary inspection area, CBP officers utilized non-intrusive inspection technology to screen the tractor-trailer, revealing anomalies. CBP officers conducted a physical examination of the tractor-trailer and discovered 65 packages hidden within the flatbed of the trailer.
A total of 770 pounds of narcotics were extracted -- 37 packages tested positive for methamphetamine weighing 697 pounds and 28 packages field-tested positive for cocaine weighing a total of 73 pounds.
Then, on Monday, Feb. 17, officers referred a white tractor-trailer for a non-intrusive inspection. During the secondary inspection, officers received a positive K-9 alert. Further examination of the tractor-trailer resulted in the discovery of 38 packages that were removed from the floor of the flatbed trailer. The contents of the packages weighed in at 437 lbs. and tested positive for methamphetamine.
Suspects involved in the incidents were arrested and turned over to Homeland Security Investigations for further investigation. The narcotics and vehicles were seized by CBP officers.
[Related: Drugs found in flatbed frame, loads of celery, watermelon, more crossing border]
