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National Beneficial Ownership Database?

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Question: 
Are businesses going to register at FinCEN for beneficial ownership?
Answer: 

Yes, the AML Act of 2020 passed in 2021 requires the creation of a national database for beneficial ownership. The Act does not have the exact same definitions as the regulation. We should expect revised beneficial ownership regulations in a year.

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Learn more about Deborah Crawford’s

Massive BSA/AML Legislation Passed! webinar.

First published on 02/21/2021

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