Former President Donald Trump has been granted a 45-day extension on filing a personal financial disclosure that would provide more political clarity to his current wealth status — regarding income, assets, debt and royalties.
The financial disclosure is a mandatory component to running for president. Trump declared his intentions for another run at the White House in mid-November.
"Due to the complexity of his finances and the need to obtain additional information from third parties, President Trump needs additional time to gather the necessary information and complete the report," Compass Legal Group senior counsel Derek H. Ross wrote to the Federal Election Commission on Thursday.
The following day, FEC Acting General Counsel Lisa Stevenson wrote, "I have granted your request for a 45-day extension of time until January 29, 2023."
According to Business Insider, federal law requires presidential candidates "to submit a certified personal financial disclosure within 30 days of becoming a candidate."
However, candidates also have the leeway to request up to two 45-day extensions with federal regulators.
Financial disclosures are structured differently than personal tax returns.
Last month, the House Ways and Means Committee obtained six years' worth of Trump tax returns (2015-20).
As Newsmax chronicled on Nov. 30, the Ways and Means Committee said it needed Trump's tax returns to gauge whether the IRS had been properly auditing presidential returns in previous years and whether new legislation would be required.
During his time in the White House (2017-21), Trump became the first president in four decades to conceal his tax returns from the public.
Presidents releasing their tax returns had long been customary in the White House.
At the same time, Trump was the first billionaire in history to become a U.S. president.
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