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Saturday, September 30, 2023

FinCEN Issues Compliance Guide to Help Small Businesses Report Beneficial Ownership Information

 September 18, 2023

WASHINGTON—Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) published a Small Entity Compliance Guide to assist the small business community in complying with the beneficial ownership information (BOI) reporting rule.  Starting in 2024, many entities created in or registered to do business in the United States will be required to report information about their beneficial owners—the individuals who ultimately own or control a company—to FinCEN.

United States Department of the Treasury Financial Crimes Enforcement Network | FinCEN.gov

FinCEN Announces $15 Million Civil Money Penalty Against Shinhan Bank America for Violations of the Bank Secrecy Act | FinCEN.gov

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