Beneficial Ownership Information Reporting Requirements

Title:

Beneficial Ownership Information Reporting Requirements

Subject: BSA/AML; beneficial ownership
Agency: FinCEN
Status:

ANPR

Summary:

FinCEN is issuing this advance notice of proposed rulemaking (ANPRM) to solicit public comment on questions pertinent to the implementation of the Corporate Transparency Act (CTA), enacted into law as part of the National Defense Authorization Act for Fiscal Year 2021 (NDAA). This ANPRM seeks initial public input on procedures and standards for reporting companies to submit information to FinCEN about their beneficial owners (the individual natural persons who ultimately own or control the reporting companies) as required by the CTA. This ANPRM also seeks initial public input on FinCEN’s implementation of the related provisions of the CTA that govern FinCEN’s maintenance and disclosure of beneficial ownership information subject to appropriate protocols.

FR Doc: 2021-06922
Date proposed: April 1, 2021
Comments due date: May 5, 2021
Effective date:

Rule compliance date:
Agency release:
Related Reg Report item(s):

FinCEN ANPR seeks input on beneficial ownership reporting; future action to cover financial institution CDD requirements

Be the first to comment

Leave a Reply

Your email address will not be published.