Thousands of farm entities could face fines and other penalties for failing to report ownership information under new Treasury Department rule.

Time is running out for thousands of farmers who could face steep fines and other penalties for failing to file business ownership information with the federal government.

Most small businesses, including many types of farm entities, are required to file a beneficial ownership information (BOI) with the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) by Jan. 1, 2025. 

An analysis by...