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#2171798 - 04/04/18 03:56 PM Beneficial Ownership - Question
Jennifer Offline
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Jennifer
Joined: Dec 2014
Posts: 177
Unincorporated Associations, Scout, Troops, Youth sports leagues, etc. are excluded from the beneficial ownership requirement - correct?

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#2171815 - 04/04/18 04:25 PM Re: Beneficial Ownership - Question Jennifer
Adam Witmer Offline
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Joined: Sep 2010
Posts: 2,622
Yes. From the preamble to the 2016 final rule:

FinCEN also notes that as a general matter, small local community organizations, such as Scout Troops and youth sports leagues, are unincorporated associations rather than legal entities and therefore not subject to the beneficial ownership requirement.
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Adam Witmer, CRCM

All statements are my opinion, not those of my employer, and should not be taken as legal advice.
www.compliancecohort.com

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