It was a stupid regulation to begin with. Any investigative agency already could trivially get this data through already existing means.

All it did was make your 3 member condo association have to pay a lawyer $500/yr in compliance fees for utterly no benefit to anyone other than the compliance folks collecting their rent. Or take on personal criminal liability to file it yourself. Better not forget one random year or it’s a felony!

Just like most of the rest of the AML/KYC creep after 9/11 it did absolutely nothing to go after anybody they say it did - it just made things harder on normal everyday people.

And that reporting was a trivial ask for a small business and still not a burden for large business.

Sales Tax handling is more of a burden on the business than this reporting was.