In USA Today, news today .... we all need to register and pay the nominal fee starting Dec 21 for new owners before their first flight, and a for current owners by Feb 19, 2016.
"Register before January 20, 2016 and your $5 registration fee will be refunded!"
"Penalties for failing to register could reach $27,500 in civil fines and $250,000 and three years in prison for criminal penalties. But Michael Whitaker, deputy administrator of FAA, said initial efforts will be to get everyone signed up rather than to punish owners, unless it is an egregious incident."
See:
FAA begins drone registry Dec. 21
I have no issues with it at all.