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

Key Points

The U.S. Treasury Department delayed a Jan. 1, 2025, deadline to file a new “beneficial ownership information” report by about two weeks, to Jan. 13.
It delayed the BOI reporting requirement following recent federal court rulings.
The requirement was created by the Corporate Transparency Act, which aims to curb illicit finance.

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