Trump asks for — and receives — a 45-day extension for disclosing his personal finances

• The law requires personal financial disclosures for presidential candidates.

• 45 days is enough time for Trump to release new information about his finances.

• One more extension could be requested by the former president.

Now that he's a presidential candidate, Donald Trump requested a 45 day extension on his personal financial disclosures.

The complexity of Trump's finances and the need to obtain additional information from third parties made it necessary for him to get more time to complete his report.

The acting general counsel of the FEC granted your request for a 45 day extension.

There was a swirl of legal peril when Trump decided to run for president. Federal law requires new presidential candidates to submit a certified personal financial disclosure within 30 days of becoming a candidate, but they can ask for up to two, 45 day extensions from federal regulators.

Information about a candidate's income, assets, debt, and royalties are included in presidential personal financial disclosures.

As the nation's 45th president, Trump's disclosures were particularly interesting given his extensive business interests that often intersect with his public duties. A jury in New York found the Trump Organization guilty of tax fraud.

A personal financial disclosure is different from a personal tax return.

Trump has refused to release his tax returns. The Democrat-controlled US House is in possession of those records and could possibly release them before the Republicans take over.

Business Insider has an article on it.