New Beneficial Ownership Reporting Requirements for US and Foreign Companies

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) will become 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 will cover not only individuals who hold a significant ownership stake, but also those that exercise "substantial control" over the business.

Join Orrick Partners Ben Hutten and Jeanine McGuinness, along with Adam Saldana from Registered Agent Solutions, Inc. A Lexitas Company, as they discuss these new regulations, including which entities will be required to comply and what information they will need to collect and file with the government.

1 hour of MCLE credit is available for this program.