Beneficial Ownership Information

UPDATE: Treasury Department Announcement

On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an Alert stating that all entities created in the U.S.—including those previously known as “domestic reporting companies”—and their beneficial owners are exempt from the requirement to report beneficial ownership information to FinCEN. Concurrent with the Alert, FinCEN issued an interim final rule.

Alert to Business Customers

Beginning on January 1, 2024, many companies in the United States will be required to report information about their beneficial owners - the individuals who directly or indirectly control or own 25% or more of the reporting company. This information will be housed in a centralized, secure nonpublic federal government database to be administered by the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of Treasury.

For more detailed information and resources regarding this rule, please visit the link below for filing requirements and deadlines:

FinCEN’s Beneficial Ownership Information Webpage: https://www.fincen.gov/boi