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Corporations Spring 2023
Resource 6 . 3 . 3

Beneficial ownership reporting requirements for private companies

John Coates

In 2021, the US adopted for the first time mandatory beneficial ownership reporting requirements for private companies.  Most kinds of regulated entities, including public companies, are exempt, as are inactive domestic shell companies in existence for more than one year.  All other kinds of corporations, however, must now report their owners to FinCEN, the part of the U.S. Treasury that combats money laundering and similar crimes.  Most European countries have similar reporting requirements.

Beneficial ownership reporting requirements for private companies

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