FinCEN Issues Notice on BOI

FinCEN issues notice to bank customers on beneficial ownership requirements
The Financial Crimes Enforcement Network issued a notice to customers of financial institutions about reporting beneficial ownership information, or BOI. The notice provides answers to questions about reporting BOI to FinCEN under the CTA and providing BOI to financial institutions in connection with federal customer due diligence requirements. FinCEN encouraged financial institutions to share the reference guide with customers that may be required to report BOI.

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