Trucking news and briefs for Monday, Feb. 24, 2025:
Biz-info reporting requirement saga takes another twist
With numerous flip-flops in the ongoing legal battle over the U.S. Treasury’s requirement for businesses to report beneficial ownership information (BOI), Congress is now stepping in. Under the Corporate Transparency Act (CTA), which became law in 2021 with that year's defense spending reauthorization, all existing LLCs and other small businesses required to register with their secretaries of state are required to report their BOI to the Treasury’s Financial Crimes Enforcement Network (FinCEN), identifying owners and more.
Last week, an injunction blocking the requirement was lifted, and FinCEN issued a notice that it will require businesses to report their BOI by March 21.
A bill introduced in the U.S. House last month -- the Protect Small Businesses from Excessive Paperwork Act of 2025 -- would delay the reporting deadline to Jan. 1, 2026, for reporting companies formed before Jan. 1, 2024.
The bill unanimously passed the House with a vote of 408-0 on Feb. 10. It was then sent to the Senate, where it was referred to the Committee on Banking, Housing, and Urban Affairs. It will need to pass out of committee then pass a full Senate vote, then get the President's signature, to become law.
[Related: Owner-report requirement under Corporate Transparency Act back in effect]
ATRI calls for operational cost data from carriers
The American Transportation Research Institute (ATRI) is calling on motor carriers to participate in its annual Operational Costs of Trucking report.
ATRI’s Operational Costs of Trucking is the industry’s leading public benchmarking tool, ATRI said. The organization collects data confidentially from for-hire motor carriers of all sectors, regions, and sizes -- from one-truck owner-operators to 10,000+ truck fleets -- to document changing cost patterns in truck operations and how fleets can leverage the cost data to achieve higher profitability and improved operational efficiencies.
Cost metrics requested by ATRI include driver pay, insurance premiums and equipment lease or purchase payments. Additional questions relate to key performance indicators such as non-revenue mileage, dwell time per stop, and miles between breakdowns.
Carriers can confidentially submit these data for the year 2024 on a per-mile or per-hour basis with an easy-to-use online data entry form or an emailed PDF form. A new, streamlined version of the form for owner-operators makes it easier than ever for one-truck companies to leverage the benefits of benchmarking.
All participating motor carriers receive a customized report that compares their fleet’s costs and operations to an anonymized peer group of the same sector and size, as well as an advance copy of the full report.
For-hire motor carriers are invited to submit operational cost data by Friday, April 25. ATRI’s data collection form is available online here, along with a sample customized report and support via Frequently Answered Questions. All confidential information is protected and published only in anonymized, aggregate form.
[Related: Beat the 'winner's curse' of auction-type negotiations for better freight rates]
Nikola recalling hydrogen-electric trucks
Earlier this month, just prior to zero-emission truck maker Nikola Corporation’s bankruptcy filing, the company informed the National Highway Traffic Safety Administration of a recall of approximately 95 of its hydrogen-electric trucks.
The recall affects model year 2024-’25 Nikola Tre FCEV units in which the hydrogen tank mounting block bolts may be too long and can damage the tank. A damaged tank can leak fuel, which increases the risk of a fire, the recall says.
Nikola said it is not aware of any leaks, injuries or property damage associated with the issue.
Dealers will inspect and replace the bolts, and replace the hydrogen tank as necessary, free of charge. Owner notification letters are expected to be mailed March 15. Owners can contact Nikola customer service at 1-630-808-4531 with recall number 24VDC1101. NHTSA’s recall number is 25V-073.
[Related: Nikola customers remain committed despite bankruptcy, hydrogen pricing concerns]
