FinCEN Provides Beneficial Owner Resources for Reporters
As promised, FinCEN has released a number of resources aimed at helping businesses understand their beneficial owner reporting requirements.
In addition to an introductory video (about one minute long) and a more detailed video (that’s close to five minutes long), FinCEN has made the following items available on its Beneficial Ownership Information Reporting Page:
These get into what companies need to report, exemptions from reporting, and what needs to be reported and when.
As it suggests, this is a quick snapshot of filing deadlines, including corrected and updated reports.
If you’re looking for something you can physically hand out to business customers or have available to take, this is probably your best bet.
Keep in mind Beneficial Owner information will not be accepted by FinCEN until January 1, 2024.
Published
2023/03/31
Amy Kudlacek
Amy brings many years of banking and compliance experience to Banker’s Compliance Consulting. She has worked for both large and small financial institutions and spent time working in every area of a bank. She started out as a teller in college and eventually became a branch manager. Her love, however, was always compliance. Amy began her career with Banker’s Compliance Consulting in 2000. Her knowledge and experiences have allowed her to develop a well-rounded and practical approach to regulatory compliance. Amy is CRCM certified, has a Bachelors Degree in Business Administration and is a graduate of the ABA Compliance School. Amy & her husband have two children at home and stay busy following their activities. They spend a lot of time in the bleachers!