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Trusts and beneficial ownership—yes or no?

Answered by: 

Question: 
Are trusts in or out for beneficial ownership certification?
Answer: 

If a business trust registers with the SOS, it is in. If a trust is the owner of a business at 25% then you put at least one trustee on the ownership portion. If the trust is not registered with the SOS and it is not the owner of a legal entity then it is excluded. A good example would be the Living Trusts.

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Learn more about Deborah Crawford webinar 25 Errors on Beneficial Ownership Certification of Legal Entities

First published on 10/18/2020

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