Determining a Legal Entity for Purposes of Beneficial Ownership

FinCEN’s beneficial ownership rules, effective May 11, 2018, require your institution to maintain written procedures to identify and verify the beneficial owners of legal entities that open accounts at your institution. The new rules specifically define what types of businesses are considered legal entities and outline a two-prong test for determining beneficial ownership. This webinar will clearly explain, with examples, which entities are covered by the rules and define the specific documents needed to properly identify and verify beneficial owners.

For more information and to register, click here.