Effective January 1, 2024, many entities registered and doing business in the United States must now report information regarding the individuals who control a company to the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN).
FinCEN has developed this Small Entity Compliance Guidewhich is designed to help small-businesses determine if they are required to report and how to comply with the requirements of the beneficial ownership information reporting rule. It may be a great resource for your small business clients who are navigating this new requirement.
