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Beneficial Ownership Rule Apply to DBA's?

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Question: 
Does the beneficial ownership rule apply to DBA's (fictitious name registered with the Secretary of State)?
Answer: 

Both individuals and entities may be required to register if they operate under an assumed name.

The regulation does not apply to a sole proprietorship' regardless of whether the individual registers under an assumed name. The regulation does apply to a corporation regardless of whether the corporation registers under an assumed name.

First published on 04/08/2018

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