The text of the bill found
here does not eliminate FinCEN's rule. The original version of the bill would have required that legal entities submit beneficial ownership information to a federal registry. That portion was stricken.
This bill provides an 18 month safe harbor prohibiting enforcement actions against banks provided they have made a good faith effort to comply and requires that a study be performed on the effectiveness of the rule in two years.
In other words...don't shred those certifications just yet.
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