The U.S. financial intelligence unit directed corporations, limited liability companies and a host of other legal entities in a final rule Tuesday to begin disclosing their beneficial owners to the federal government in January 2024.
Entities created or registered before Jan. 1, 2024, will have one year to submit details on their owners to the Treasury Department’s Financial Crimes Enforcement Network, while entities that registered or came into existence after that date will have one month to file their initial disclosures to the bureau.
All entities will then have one month to notify FinCEN of any changes in their ownership information, according to the final rule.
|Topics :||Anti-money laundering , Know Your Customer|
|Document Date:||September 29, 2022|