The FTC Safeguards Rules Are Extended to June 9, 2023

The Federal Trade Commission (“FTC”) has extended its deadline to implement its safeguards rules for dealerships from December 9, 2022 to June 9, 2023. 

This seems to be a good move from the FTC to relieve some of the pressure that’s been put on our dealer clients.  Just like our tax returns, a six-month extension will give us some time to do this right!

Schneider Downs’ cybersecurity leader, Carl Kriebel, gave his insight on the process back in August of 2022.  Please read Carl’s thoughts on the process titled "Automotive Dealerships and the FTC Safeguards Rule Deadline: Is Your Information Security Program Compliant?". 

About Schneider Downs Tax Services 

Schneider Downs’ tax advisors have experience and expertise in a wide range of industries, including Automotive, Construction, Real Estate, Manufacturing, Energy & Resources, Higher Education, Not-for-profits, Transportation and others. Our industry knowledge and focus ensure the delivery of technical tax strategies that can be implemented as practical business initiatives.  

To learn more, visit our dedicated Tax Services page. If you have any questions on these safeguard rules, please reach out to any of our SD Auto Advisors.  

You’ve heard our thoughts… We’d like to hear yours

The Schneider Downs Our Thoughts On blog exists to create a dialogue on issues that are important to organizations and individuals. While we enjoy sharing our ideas and insights, we’re especially interested in what you may have to say. If you have a question or a comment about this article – or any article from the Our Thoughts On blog – we hope you’ll share it with us. After all, a dialogue is an exchange of ideas, and we’d like to hear from you. Email us at [email protected].

Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax, or legal advice. Please note that individual situations can vary. Therefore, this information should be relied upon when coordinated with individual professional advice.

© 2023 Schneider Downs. All rights-reserved. All content on this site is property of Schneider Downs unless otherwise noted and should not be used without written permission.

our thoughts on
SECURE 2.0 Act – Section 604. Optional Treatment of Employer Matching or Non-elective Contributions as Roth Contributions.
SECURE 2.0 Act – Section 101. Expanding Automatic Enrollment in Retirement Plans
SECURE 2.0 Act – Section 111. Application for Credit for Small Employer Pension Plan Startup Costs to Employers Which Join an Existing Plan
SECURE 2.0 Act – Section 126. Special Rules for Certain Distributions from Long-term Qualified Tuition Programs to Roth IRAs
SECURE 2.0 Act – Section 102. Modification of Credit for Small Employer Pension Start-Up Costs
SECURE 2.0 Act –Section 317. Retroactive First-year Elective Deferrals for Sole Proprietors
Register to receive our weekly newsletter with our most recent columns and insights.
Have a question? Ask us!

We’d love to hear from you. Drop us a note, and we’ll respond to you as quickly as possible.

Ask us
contact us

This site uses cookies to ensure that we give you the best user experience. Cookies assist in navigation, analyzing traffic and in our marketing efforts as described in our Privacy Policy.

×