You don't do anything with it.
You obtain the name, DOB, street address and identifying number of one trustee of the trust that holds 30% (unless the trustee is an entity), of the individual who holds 40% and nothing on the excluded (not exempt) entity. There is also no "digging" into the ownership of that excluded entity.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8