Corporate Transparency Filing Must be Done by the End of the Year

Farmers are facing a January 1 deadline to file detailed ownership information to the Treasury Department. AgCentric Executive Director Keith Olander says this was part of the Corporate Transparency Act that passed in 2021. “Any farm that has an entity, LLC, S-Corp, etcetra, they are required by the new law to register online and to have that done by December 31st. There is a fine that’s attached to that if you don’t comply.” There is an online filing available for this program. “The last I knew, we had less than 20 percent of farms that actually had done that so it needs to be done in the next six weeks.