A new executive order signed by President Donald Trump is bringing a major shift to how the U.S. government handles financial transactions.

Starting September 30, 2025, the U.S. Department of the Treasury will stop issuing and accepting paper checks for all federal disbursements and payments, including tax refunds and paper checks sent to the IRS.

As of January 1, 2024, the US Government implemented New Business Ownership Information Reporting laws, which will require companies (both small businesses and large operating companies) to report information about their beneficial owners to the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN). The objective is to enhance company visibility, thereby reducing the likelihood of illicit activities such as money laundering.