top of page
  • Writer's pictureDeborah

Released on March 24 by the Financial Crimes Enforcement Network (FinCEN) the materials includes an Frequently Asked Questions about the reporting requirements and two one pagers on Key Filing Dates as well as Key Questions applicable the beneficial ownership information (BOI) rules that will come into effect on January 1, 2024 (read our previous article here).

Certain corporations and entities created in or registered to do business in the United States will be required to report information about their beneficial owners to FinCEN.

The guidance provided focuses on issues such as:

  • The definition of BOI

  • The type of information that must be reported

  • The reporting timeline (Initial reports VS Updated reports VS Corrected reports)

  • Conditions for the disclosure of the BOI

  • Company applicant

  • The format and channel for reporting

  • Protection and confidentiality of the BOI

The materials will be of particular interest to small businesses.

Recent Posts

See All

The Secured Overnight Financing Rate (SOFR) is a broad measure of the cost of borrowing cash overnight collateralized by Treasury securities. SOFR is the overnight interest rate for US dollar-denomina

13/06/2023 - Canadian Securities Administrators (CSA) SEDAR+ go-live date. All issuer filings, cease trade orders and disciplined list entries will be filed in SEDAR+ 16/06/2023 - OSFI consultation pe

On May 11, the Bank for International Settlements (BIS) published a Handbook on how central bank digital currencies (CBDCs) could work for offline payments, defined as a “transfer of value between dev

bottom of page