Regulatory Alerts2023-11-07
Added
Use of FinCEN Identifiers for Reporting Beneficial Ownership Information of Entities
This final rule amends 31 CFR 1010.380 to specify when and how reporting companies may use an entity FinCEN identifier to report beneficial ownership information. A reporting company may report another entity's FinCEN identifier and full legal name in lieu of individual beneficial owner information only if the other entity holds a FinCEN identifier, an individual is or may be a beneficial owner through an interest in that entity, and the beneficial owners of both entities are the same individuals. The rule becomes effective on January 1, 2024.
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