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.