S. 100 — Repealing Big Brother Overreach Act

This section repeals the Corporate Transparency Act (CTA; title LXIV of division F of the FY2021 National Defense Authorization Act), which requires certain U.S. reporting companies (e.g., corporations and LLCs) to submit beneficial ownership information to FinCEN to combat illicit finance via anonymous shell companies, and the amendments made by that Act. (Thus, the CTA's reporting requirements end.) It also makes conforming amendments to the Bank Secrecy Act (31 U.S.C. §§5321 and 5322) and Anti-Money Laundering Act of 2020 (§§6502 and 6509) to remove references to the repealed provisions.