Trucking news and briefs for Tuesday, March 25, 2025:
U.S. companies 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 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 that requirement and, eventually led to the Treasury’s announcement this month.
Distinguished Woman in Logistics finalists named
Women in Trucking has named three finalists for its Distinguished Woman in Logistics award.Women in Trucking
The Women in Trucking Association (WIT) has announced the three finalists for its 2025 Distinguished Woman in Logistics Award (DWLA).
The award, sponsored by the Transportation Intermediaries Association (TIA) and Truckstop, honors the exceptional achievements of women in the North American transportation industry, celebrating their leadership and contributions to this essential field.
The finalists for the 2025 Distinguished Woman in Logistics Award are:
- Martha Payne, transportation attorney, Benesch Attorneys at Law
- Peggy Mecca, president and CEO, Mecca and Son Trucking
- Sharon Johnson, chief legal officer, chief compliance officer, and corporate secretary, MODE Global
These women have demonstrated outstanding leadership, innovation, and commitment to advancing the logistics and transportation industry, leaving a lasting impact on their organizations and communities, WIT said.
Payne represents North American transportation and logistics providers as a transportation attorney at Benesch, offering counsel on a broad range of transportation issues. Her practice focuses on risk analysis, contract negotiation, and supply chain management. With significant knowledge in cargo liability, risk management, and contracting, Payne has worked with U.S. carriers and served on the National Law Center for Inter-American Free Trade’s Sub-Committee on Uniform Liability Regime.
Mecca, president and CEO of Mecca and Son Trucking, has led the company for 55 years, expanding its operations from regional trucking to global logistics, port drayage and specialized freight. She modernized the business and built a large fleet, expanding services to include commodities requiring special handling. Mecca has guided her company through recessions, natural disasters, and the pandemic, always prioritizing employee stability and growth. As a Certified Women’s Business Enterprise, Mecca actively drives industry change through various organizations.
Johnson serves as chief legal officer for MODE Global, overseeing the company's global legal and compliance affairs. In 2024, she was named Compliance Week’s Compliance Innovator of the Year and received the Outstanding General Counsel award from D CEO magazine. Johnson has guided MODE's compliance program to achieve the Navex Excellence in Ethics and Compliance Award for two consecutive years. An advocate for ethics and compliance, she regularly speaks at industry conferences and is a board member of the Texas A&M University School of Law Alumni Board. Johnson leads a collaboration between TIA’s Fraud Task Force and TCU students to enhance fraud analysis, data visualization, and carrier vetting.
The winner will be announced during the TIA Capital Ideas Conference and Exhibition on Thursday, April 10, in San Antonio, Texas.
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.
The winner of the Transition Trucking: Driving for Excellence award will receive the keys to a Kenworth T680.Kenworth
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.
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.
[Related: Transition Trucking winner announced]
