The Financial Crimes Enforcement Network (FinCEN) issued a notice to customers of financial institutions about reporting beneficial ownership information. The notice provides answers to key questions about: (1) reporting beneficial ownership information to FinCEN under the Corporate Transparency Act; and (2) providing beneficial ownership information to financial institutions in connection with federal customer due diligence requirements. FinCEN also encourages financial institutions to share this reference guide with customers that may be required to report beneficial ownership information.
