Breaking: Upcoming important change that will require the reporting of the beneficial owner(s) of a US company in the future.
If you own a US company, it is likely that you are directly affected by this reporting obligation.
The Financial Crimes Enforcement Network (FinCEN) published a guideline on its homepage on September 18, 2023: Beneficial Ownership Information Reporting | FinCEN.gov - FinCEN is an institution of the US Department of the Treasury.
The reporting obligation begins on January 1, 2024.
The deadline for companies formed on or after January 1, 2024 is 30 days
Companies that were formed before January 1, 2024 have to file their UBO information until January 1, 2025.
If you do not comply with this obligation, civil and criminal consequences may arise.
You probably have several questions now, and you can find the appropriate answers here: Beneficial Ownership Information Reporting | FinCEN.gov
If you own a US company, it is likely that you are directly affected by this reporting obligation.
The Financial Crimes Enforcement Network (FinCEN) published a guideline on its homepage on September 18, 2023: Beneficial Ownership Information Reporting | FinCEN.gov - FinCEN is an institution of the US Department of the Treasury.
The reporting obligation begins on January 1, 2024.
The deadline for companies formed on or after January 1, 2024 is 30 days
Companies that were formed before January 1, 2024 have to file their UBO information until January 1, 2025.
If you do not comply with this obligation, civil and criminal consequences may arise.
You probably have several questions now, and you can find the appropriate answers here: Beneficial Ownership Information Reporting | FinCEN.gov
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