Finance

Treasury sets new deadline for businesses to report ownership information

Published

4 months ago

February 20, 2025

Former U.S. Treasury Secretary Janet Yellen speaks to staff at the Financial Crimes Enforcement Network on Jan. 8, 2024 in Vienna, Virginia.

Samuel Corum | Getty Images News | 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 of people who directly or indirectly own or control the company. The measure aims to prevent criminals from hiding illicit activity conducted through shell companies or opaque ownership structures, according to the Treasury.

Businesses have suffered a degree of whiplash from the on-again-off-again deadlines to file BOI reports. A string of court orders had prevented the Treasury from enforcing the measure, only to then see courts strike down those rulings.

The U.S. District Court for the Eastern District of Texas on Feb. 18 lifted a nationwide injunction that had prevented the Financial Crimes Enforcement Network, known as FinCEN, which is part of the Treasury, from enforcing the Corporate Transparency Act.

Room for more delays?

The BOI reporting measure applies to about 32.6 million businesses, including certain corporations, limited liability companies and others, according to federal estimates.

Businesses and owners that don’t comply with reporting rules are potentially subject to civil penalties of up to $591 a day, adjusted for inflation. They could also face up to $10,000 in criminal fines and up to two years in prison.

Small business optimism lower in Q1 2025, survey finds

FinCEN left the possibility of further delays on the table even as it extended its previous reporting deadline by 30 days.

“FinCEN will provide an update before then of any further modification of this deadline, recognizing that reporting companies may need additional time to comply with their BOI reporting obligations once this update is provided,” according to a Feb. 18 FinCEN notice.

FinCEN also said it would prioritize enforcement for businesses that “pose the most significant national security risks.”

Finance

Amazon is selling a 'high-quality' $525 Citizen Eco-Drive watch for $260, and buyers love its 'useful functions'

Published

51 minutes ago

June 13, 2025

Business Finance News

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Time is the most valuable thing any of us has. Therefore, why not keep track of it in the most accurate and stylish way possible, relishing every second? Amazon can help you do that with its incredible selection of high-end watches. One of them, from Citizen, is currently available for half off, and we think it ticks all the boxes.

The Citizen Calandrier Eco-Drive Watch is on sale for $260 right now, which is 50% off the regular price of $525. Not only does this watch give you the time, but it even tells you the day and the date.

Citizen Calandrier Eco-Drive Watch, $260 (was $625) at Amazon

While a watch that tells the time is useful, one that does that and lets you know exactly what day and date it is can keep you on schedule better than you might imagine. In addition to the time, day, and date functions, this watch has a 24-hour tracker and world time function, so you can know what time it is anywhere in the world.

With a stainless steel case and bracelet, the timepiece oozes elegance and durability. Its blue dial is highly legible and attractive, and is sure to get you plenty of compliments. It also has a scratch-resistant mineral crystal and 100 meters of water resistance. The Japan-made quartz movement inside operates off of solar energy, provided by the Eco-Drive technology within.

Amazon customers raved about this watch. One called it “my favorite watch,” adding, “I fell in love with how it looked…It feels and looks like a very high-quality watch. All the functions work perfectly and are not hard to read.”

Another touted the “beautiful blue dial,” and said, “I love good-looking watches…but if the design can incorporate useful functions as well, it’s a winner for me. And this watch does all of that.”

The Citizen Calandrier Eco-Drive Watch will let you know exactly when you are, and it can do so in style. It can also do so for only $260 at the moment, so why not take a chance? We would never waste your time if it weren’t worth it.