The Treasury Department set a March 21 deadline for businesses to report “beneficial ownership information” or risk civil and criminal penalties. It delayed the prior deadline by 30 days. The delay comes after a Texas district court struck down a nationwide injunction on enforcement of the Corporate Transparency Act. The Treasury Department left open the possibility of further delays. People take pictures of the U.S. Treasury Department building in Washington, D.C., on Feb. 6, 2025. Mandel Ngan | AFP | Getty Images
The Treasury Department has set a new deadline of March 21 for millions of businesses to fulfill a new reporting requirement on “beneficial ownership information,” after a court order allowed the federal agency to start enforcing the measure.
The Corporate Transparency Act, which Congress enacted in 2021, requires small businesses to disclose the identity