Beneficial ownership information reporting guidance

First set of guidance materials to aid the public in understanding recently issued final regulations

Guidance materials to aid public in understanding recently issued final regulations

Article Posted date 24 March 2023

The Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury Department today published its first set of guidance materials to aid the public in understanding recently issued final regulations [PDF 1.01 MB] (330 pages) becoming effective January 1, 2024, that require many corporations, limited liability companies, and other entities created in or registered to do business in the United States to report beneficial ownership information to FinCEN (i.e., information on the persons who ultimately own or control the company). Read TaxNewsFlash

The following guidance materials are now available on FinCEN’s beneficial ownership information reporting webpage:

Read a related FinCEN news release

Note that FinCEN will not accept any beneficial ownership information before January 1, 2024.  Guidance regarding how to submit beneficial ownership information is forthcoming.

 

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