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#2171798 - 04/04/18 03:56 PM Beneficial Ownership - Question
Jennifer Offline
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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
Power Poster
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.
Adam Witmer, CRCM

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

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