Treasury delays deadline for small businesses to file new form to avoid risk of fines for noncompliance

Posted under: SMB
Date: 2024-12-27
Treasury Extends SMB Filing Deadline | Justo Global

The U.S. Treasury Department has delayed the deadline for millions of small businesses to Jan. 13, 2025, to file a new form, known as a Beneficial Ownership Information report. The Treasury had initially required many businesses to file the report to the agency’s Financial Crimes Enforcement Network, known as FinCEN, by Jan. 1. Noncompliance carries potential fines that could exceed $10,000.

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