Farmers urged to meet reporting requirements

Dec 26, 2024
By Farms.com

NCBA Urges Compliance Amid Tight CTA Deadlines

Cattle producers are facing the return of Corporate Transparency Act (CTA) filing requirements, as announced by the National Cattlemen’s Beef Association (NCBA). This development follows a recent court ruling reversing a nationwide injunction that previously halted enforcement.

The Fifth Circuit Court of Appeals lifted the injunction on December 24, allowing the government to proceed with enforcing the CTA.

The Financial Crimes Enforcement Network (FinCEN) has set January 13, 2025, as the new compliance deadline, providing producers with just three weeks to meet the requirements.

The CTA mandates detailed reporting of beneficial ownership information to the federal government. “The Corporate Transparency Act requires millions of family farmers and ranchers to file complex paperwork and disclose beneficial ownership information with the federal government under penalty of severe fines and jailtime,” said NCBA Executive Director of Government Affairs Kent Bacus.

“FinCEN should do the right thing and provide a realistic delay to the Corporate Transparency Act until Congress has an opportunity to provide a permanent fix that protects family farmers and ranchers.”

NCBA criticized the lack of adequate notice and guidance from FinCEN, leaving many cattle producers unprepared. The organization pledged to continue advocating for a permanent solution to alleviate the burden on small businesses and family operations.

In the meantime, cattle producers are strongly encouraged to consult legal or financial advisors to navigate the complex requirements of the CTA. The NCBA remains committed to protecting the interests of the cattle industry while urging Congress to enact a long-term resolution.

Video: Evolution of Beef Cattle Farming

The Clear Conversations podcast took to the road for a special episode recorded in Nashville during CattleCon, bringing listeners straight into the heart of the cattle industry. Host Tracy Sellers welcomed rancher Steve Wooten of Beatty Canyon Ranch in Colorado for a wide-ranging discussion that blended family history and sustainability, particularly as it relates to the future of beef production.

Sustainability emerged as a central theme of the conversation, a word that Wooten acknowledges can mean very different things depending on who you ask. For him, sustainability starts with the soil. Healthy soil produces healthy grass, which supports efficient cattle capable of producing year after year with minimal external inputs. It’s an approach that equally considers vegetation, animal efficiency, and long-term profitability.

That philosophy aligned naturally with Wooten’s involvement in the U.S. Roundtable for Sustainable Beef, where he served as a representative for the Colorado Cattlemen’s Association. The roundtable brings together the entire beef supply chain—from producers to retailers—along with universities, NGOs, and allied industries. Its goal is not regulation, Wooten emphasized, but collaboration, shared learning, and continuous improvement.