Frequently Asked Questions

What is the FinCEN beneficial ownership reporting rule?

On January 1, 2024, a new beneficial ownership reporting rule issued by the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) became effective.

This new rule requires certain U.S. businesses and those registered to do business in the United States to disclose information to FinCEN about their beneficial owners. These disclosures cover not only individuals who hold a significant ownership stake, but also those that exercise "substantial control" over the business.

Related FAQs

Related Resources