HELENA, Mont. — Days after Montana Secretary of State Christi Jacobsen and colleagues across the nation urged President Trump to repeal confusing and burdensome small business regulations, the President announced he is suspending the enforcement of the Corporate Transparency Act (CTA) and its Beneficial Ownership Information (BOI) reporting requirements.

“On behalf of the hundreds of thousands of small businesses in Montana, I appreciate that President Trump removed this burdensome mandate,” said Secretary Jacobsen. “This Biden Administration imposition was an absolute disaster that forced unwarranted regulations and severe penalties on the small businesses that are the backbone of our communities. I’m glad that the federal government under President Trump has followed our lead to eliminate unnecessary government obstacles.”

During her first term as Montana Secretary of State, Secretary Jacobsen cut registration fees in half for new Montana businesses, eliminated several other fees entirely, and provided a fee waiver for all Montana businesses filing their annual report in 2024 and 2025.

Montana has had record new business growth in each of the past four years under Secretary Jacobsen’s leadership.

Secretary Jacobsen previously called on the federal government and Montana’s Congressional delegation to stand up for Montana businesses. She was one of 20 Secretaries of State nationwide who urged the President to repeal the CTA in February.

“Exciting news! The Treasury Department has announced that they are suspending all enforcement of the outrageous and invasive Beneficial Ownership Information (BOI) reporting requirement for U.S. Citizens,” President Trump stated on social media.