Beneficial Ownership Reporting

The  Financial  Crimes  Enforcement  Network  issued a final rule  establishing  a  beneficial ownership  information  reporting  requirement.  The  rule will require most U.S. corporations, limited  liability  companies,  and  other  entities  to  report  to  FinCEN information about their  beneficial  owners—those  who  ultimately  own  or  control  the company. The rule enacts provisions  of  the  Corporate  Transparency  Act—passed  as  part  of  the  Anti-Money  Laundering  Act—to  strengthen  national  security  and  the integrity  and  transparency  of  the  U.S.  financial  system. 

Read this and more about the Beneficial Ownership rules here.