BENEFICIAL OWNERSHIP INFORMATION REPORTING
Beginning January 1, 2024, new requirements are in place for U.S. businesses to report "beneficial ownership information" to the Financial Crimes Enforcement Network of the U.S. Treasury.
What is this about?
Many companies in the United States are now required to report information about their "beneficial owners," i.e. the individuals who ultimately own or control the company.
This information is reported to the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Treasury.