2022 Beneficial Ownership Final Rule Summary (Reporting Companies)
This tool summarizes FinCEN’s Final Rule requiring certain entities to file reports with FinCEN that identify two categories of individuals: beneficial owners of the entity and individuals who have filed an application to create the entity or register it to do business. The Final Rule does not alter or revise current beneficial ownership information collection that financial institutions conduct pursuant to the 2016 Customer Due Diligence Rule (CDD Rule) but instead places a new reporting requirement on the entities themselves. This tool summarizes the Final Rule’s reporting requirement placed on legal entities and outlines the impact on financial institutions
Members Can Download This Tool
Login to Download
Not Yet a Member?
Our members enjoy:
On-demand regulatory guidance hotline – by chat, phone and email – available from anywhere, on any device – 7 am - 6 pm, M-F, Central time
Research time saved daily & weekly across forms, checklists, and trainings — for every regulation
Hours of form-building and branding of bank documents saved; in some cases, even the budget of additional staff
A sounding board for support and reassessment when institutional goals or the regulatory environment changes
Access to attorneys and compliance specialists for risk modelling and decision-making in advance of large business decisions
The knowledge that C/A was created and owned by 30 State Bankers Association to provide bank compliance services to their membership organizations
Find out how a personalized team of attorneys and compliance professionals helps build targeted compliance strategies throughout your institution when you take our Live Membership Demo.