Beneficial Ownership Reporting

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     FinCEN Logo      U.S. Department of the Treasury Financial Crimes Enforcement Network

Beneficial Ownership Information Reporting

In 2021, Congress enacted the Corporate Transparency Act. This law
creates a beneficial ownership information reporting requirement as part
of the U.S. government’s efforts to make it harder for bad actors to hide or
benefit from their ill-gotten gains through shell companies or other opaque
ownership structures.
Beginning on January 1, 2024, many companies in the United States
will have to report information about their beneficial owners, i.e., the
individuals who ultimately own or control the company. They will have
to report the information to the Financial Crimes Enforcement Network
(FinCEN). FinCEN is a bureau of the U.S. Department of the Treasury.
To learn more, check out the links below.