FinCEN Updates Frequently Asked Questions on Beneficial Ownership Information
The Financial Crimes Enforcement Network (FinCEN) has updated its Beneficial Ownership Information (BOI) Frequently Asked Questions to include new questions related to general questions, the reporting process, reporting companies, reporting requirements, initial reports, updated reports, compliance and enforcement, FinCEN identifiers, and third-party service providers.
Beginning on January 1, 2024, many companies in the United States will have to report information about their beneficial owners—the individuals who ultimately own or control the company. Companies will be able to begin reporting beneficial ownership information to FinCEN at that time. FinCEN will continue to provide guidance on how to submit beneficial ownership information.
Frequently Asked Questions: https://www.fincen.gov/boi-faqs
FinCEN’s BOI Webpage: https://www.fincen.gov/boi
NASCUS Resources: