Notice2023-00703
Agency Information Collection Activities; Proposed Collection; Comment Request; Beneficial Ownership Information Reports
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
January 17, 2023
Issuing agencies
Treasury DepartmentFinancial Crimes Enforcement Network
Abstract
FinCEN invites all interested parties to comment on the report that will be used to collect beneficial ownership information, as required by the Beneficial Ownership Information Reporting Requirements final rule that was published on September 30, 2022. The details included in the information collection are listed below. This request for comment is made pursuant to the Paperwork Reduction Act of 1995.
Full Text
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<title>Federal Register, Volume 88 Issue 10 (Tuesday, January 17, 2023)</title>
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[Federal Register Volume 88, Number 10 (Tuesday, January 17, 2023)]
[Notices]
[Pages 2760-2764]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-00703]
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DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network
Agency Information Collection Activities; Proposed Collection;
Comment Request; Beneficial Ownership Information Reports
AGENCY: Financial Crimes Enforcement Network (FinCEN), Treasury.
ACTION: Notice and request for comments.
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SUMMARY: FinCEN invites all interested parties to comment on the report
that will be used to collect beneficial ownership information, as
required by the Beneficial Ownership Information Reporting Requirements
final rule that was published on September 30, 2022. The details
included in the information collection are listed below. This request
for comment is made pursuant to the Paperwork Reduction Act of 1995.
DATES: Written comments are welcome and must be received on or before
March 20, 2023.
ADDRESSES: Comments may be submitted by any of the following methods:
<bullet<ls-thn-eq> Federal E-rulemaking Portal: <a href="http://www.regulations.gov">http://www.regulations.gov</a>. Follow the instructions for submitting comments.
Refer to Docket Number FINCEN-2023-0002 and the specific Office of
Management and Budget (OMB) control number 1506-0076.
<bullet> Mail: Policy Division, Financial Crimes Enforcement
Network, P.O. Box 39, Vienna, VA 22183. Refer to Docket Number FINCEN-
2023-0002 and OMB control number 1506-0076.
Please submit comments by one method only. Comments will be
reviewed consistent with the Paperwork Reduction Act of 1995 (PRA) and
applicable OMB regulations and guidance. Comments submitted in response
to this notice will become a matter of public record. Therefore, you
should submit only information that you wish to make publicly
available.
FOR FURTHER INFORMATION CONTACT: The FinCEN Resource Center at 1-800-
767-2825 or electronically at <a href="https://www.fincen.gov/contact">https://www.fincen.gov/contact</a>.
[[Page 2761]]
SUPPLEMENTARY INFORMATION:
I. Statutory and Regulatory Provisions
FinCEN issued the Beneficial Ownership Information Reporting
Requirements final rule on September 30, 2022 (``final BOI reporting
rule'').\1\ The final BOI reporting rule requires certain legal
entities to file with FinCEN reports that identify the beneficial
owners of the entity. Entities created or registered to do business on
or after January 1, 2024, must also identify the individual who
directly filed the document with specified governmental authorities
that created the entity or registered it to do business, as well as the
individual who was primarily responsible for directing or controlling
such filing if more than one individual was involved in the filing of
the document. Further, the regulations describe who must file a report,
what information must be provided, and when a report is due. Entities
must certify that the report is true, correct, and complete.
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\1\ 87 FR 59498 (Sept. 30, 2022).
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These regulations implement Section 6403 of the Corporate
Transparency Act (CTA), enacted into law as part of the National
Defense Authorization Act for Fiscal Year 2021 (NDAA).\2\ The
requirements are intended to help prevent and combat money laundering,
terrorist financing, corruption, tax fraud, and other illicit activity,
while minimizing the burden on reporting entities.
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\2\ Specifically, the CTA is Title LXIV of the William M. (Mac)
Thornberry National Defense Authorization Act for Fiscal Year 2021,
Public Law 116-283 (Jan. 1, 2021). Division F of the NDAA is the
Anti-Money Laundering Act of 2020, which includes the CTA. Section
6403 of the CTA, among other things, amends the Bank Secrecy Act
(BSA) by adding a new section 5336, Beneficial Ownership Information
Reporting Requirements, to subchapter II of chapter 53 of title 31,
United States Code.
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II. Paperwork Reduction Act of 1995 <SUP>3</SUP>
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\3\ Public Law 104-13, 44 U.S.C. 3506(c)(2)(A).
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Title: Beneficial Ownership Information (BOI) Reports.
OMB Control Number: 1506-0076.
Type of Review: Regular.
Description: In accordance with the CTA, the rule imposes a new
reporting requirement on certain entities (``reporting companies'') to
file with FinCEN reports that identify the entities' beneficial owners,
as well as, in certain cases, the individual who directly filed the
document with specified governmental authorities that created the
entity or registered it to do business, as well as the individual who
was primarily responsible for directing or controlling such filing, if
more than one individual was involved in the filing of the document
(``company applicants'').\4\ The reports are to be filed electronically
through an online interface. The report must also contain information
about the entity itself. The reporting company must certify that the
report is true, correct, and complete. The rule also requires that
reporting companies update the information in these reports as needed,
and correct any previous incorrectly reported information, within
specific timeframes. The collected information will be maintained by
FinCEN and made accessible to authorized users.
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\4\ 31 U.S.C. 5336(b) and 31 CFR 1010.380(b).
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Report: None.
Affected Public: Domestic entities that are: (1) corporations; (2)
limited liability companies; or (3) created by the filing of a document
with a secretary of state or any similar office under the law of a
state or Indian tribe, and foreign entities that are: (1) corporations,
limited liability companies, or other entities; (2) formed under the
law of a foreign country; and (3) registered to do business in any
state or Tribal jurisdiction by the filing of a document with a
secretary of state or any similar office under the laws of a state or
Indian tribe. The rule does not require corporations, limited liability
companies, or other entities that are described in any of 23 specific
exemptions \5\ to file BOI reports, except that certain foreign legal
entities that qualify as pooled investment vehicles must report the BOI
of an individual who exercises substantial control over the pooled
investment vehicle.\6\
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\5\ See 31 CFR 1010.380(c)(2).
\6\ See 31 CFR 1010.380(b)(2)(iii). The special reporting rule
for foreign pooled investment vehicle specifies that, ``[i]f more
than one individual exercises substantial control over the entity,
the entity shall report information with respect to the individual
who has the greatest authority over the strategic management of the
entity.''
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Estimated Number of Respondents: As explained in detail in the
final BOI reporting rule regulatory impact analysis (RIA), the number
of entities that are reporting companies is difficult to estimate.\7\
FinCEN assumes that all entities created or registered prior to the
effective date of January 1, 2024, that are subject to the BOI
reporting requirement will submit their initial BOI reports in Year 1
(2024), as required by the rule. Therefore, FinCEN estimates that
32,556,929 entities will submit initial BOI reports in Year 1
(2024).\8\ In Year 2 (2025) and beyond, FinCEN estimates that the
number of initial BOI reports filed will be 4,998,468 per year, which
is the same estimate as the number of new entities per year that meet
the definition of reporting company and are not exempt.\9\ The total
five-year average of expected BOI initial reports is 10,510,160. In
order to estimate the total burden hours and costs associated with the
reporting requirement, FinCEN further assesses a distribution of the
reporting companies' beneficial ownership structure. FinCEN assumes
that 59 percent of reporting companies will have a simple structure
(i.e., 1 beneficial owner who is also the company applicant), 36.1
percent will have an intermediate structure (i.e., 4 beneficial owners
and 1 company applicant), and 4.9 percent will have a complex structure
(i.e., 8 beneficial owners and 2 company applicants). FinCEN estimates
that 6,578,732 updated BOI reports will be filed in Year 1 (2024), and
14,456,452 such reports will be filed annually in Year 2 (2025) and
beyond.\10\ The total five-year average of expected BOI update reports
is 12,880,908.
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\7\ Refer to the final BOI reporting rule RIA for a detailed
description of these estimates. See 87 FR 59589 (Sept. 30, 2022).
\8\ Refer to the final BOI reporting rule RIA cost analysis for
the underlying sources and analysis related to this estimate. See 87
FR 59562-59579 (Sept. 30, 2022).
\9\ Refer to the final BOI reporting rule RIA cost analysis for
the underlying sources and analysis related to this estimate. As
noted therein, for analysis purposes FinCEN assumes that the number
of new entities per year from years 2 through 10 (2025 to 2033) will
be the same as the 2024 new entity estimate, which accounts for a
growth factor of 13.1 percent per year from the date of the
underlying source (2020) through 2024. Annually thereafter, FinCEN
assumes no change in the number of new entities. FinCEN provides an
alternative cost analysis in the conclusion section where the 13.1
percent growth factor continues throughout the entire 10-year time
horizon of the analysis (i.e., through 2033). However, this growth
factor is possibly an overestimate given that it is a based on a
relatively narrow timeframe of data (two years). See 87 FR 59562-
59579 (Sept. 30, 2022).
\10\ Refer to the final BOI reporting rule RIA cost analysis for
the underlying sources and analysis related to these estimates. See
87 FR 59562-59579 (Sept. 30, 2022).
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Frequency of Response: As required.\11\
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\11\ For BOI reports, there is an initial filing and subsequent
filings; the latter are required as information changes or if
previously reported information was incorrect.
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Estimated Time per Respondent: FinCEN has updated the estimated
time burden per respondent to account for comments received to the
notice of proposed rulemaking (NPRM) that preceded the final BOI
reporting rule.\12\ Considering the comments and the final BOI
reporting rule, it is apparent that the time burden for filing initial
BOI reports will vary depending on the complexity of the reporting
company's structure. FinCEN therefore estimates a range of time burdens
associated with filing an initial BOI report to account for the likely
variance among reporting
[[Page 2762]]
companies. FinCEN estimates the average burden of reporting BOI as 90
minutes per response for reporting companies with simple beneficial
ownership structures (40 minutes to read the form and understand the
requirement, 30 minutes to identify and collect information about
beneficial owners and company applicants, and 20 minutes to fill out
and file the report, including attaching an image of an acceptable
identification document for each beneficial owner and company
applicant). FinCEN estimates the average burden of reporting BOI as 650
minutes per response for reporting companies with complex beneficial
ownership structures (300 minutes to read the form and understand the
requirement, 240 minutes to identify and collect information about
beneficial owners and company applicants, and 110 minutes to fill out
and file the report, including attaching an image of an acceptable
identification document for each beneficial owner and company
applicant). FinCEN estimates the average burden of updating such
reports for reporting companies with simple beneficial ownership
structures as 40 minutes per update (20 minutes to identify and collect
information about beneficial owners or company applicants and 20
minutes to fill out and file the update). FinCEN estimates the average
burden of updating such reports for reporting companies with complex
beneficial ownership structures as 170 minutes per update (60 minutes
to identify and collect information about beneficial owners or company
applicants and 110 minutes to fill out and file the update). FinCEN
also assesses that reporting companies with intermediate beneficial
ownership structures will have a time burden that is the average of the
time burden for reporting companies with simple structures and those
with complex structures.
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\12\ 86 FR 69920 (Dec. 8, 2021).
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Estimated Total Reporting Burden Hours: FinCEN estimates that
during Year 1 (2024), the filing of initial BOI reports will result in
approximately 118,572,335 burden hours for reporting companies.\13\ In
Year 2 (2025) and beyond, FinCEN estimates that the filing of initial
BOI reports will result in 18,204,421 burden hours annually for new
reporting companies.\14\ The five-year average of burden hours for
initial BOI reports is 38,278,004 hours. FinCEN estimates that filing
BOI updated reports in Year 1 (2024) will result in approximately
7,657,096 burden hours for reporting companies.\15\ In Year 2 (2025)
and beyond, the estimated number of burden hours for updated reports
will be 16,826,105.\16\ The five-year average of burden hours for
updated BOI reports is 14,992,203 hours. The total five-year average of
burden hours for BOI reports is 53,270,307.
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\13\ ((0.59 x 32,556,929) x (90/60)) + ((0.361 x 32,556,929) x
(370/60)) + ((0.049 x 32,556,929) x (650/60)) = 118,572,335.
\14\ ((0.59 x 4,998,468) x (90/60)) + ((0.361 x 4,998,468) x
(370/60)) + ((0.049 x 4,998,468) x (650/60)) = 18,204,421.
\15\ ((0.59 x 6,578,732) x (40/60)) + ((0.361 x 6,578,732) x
(105/60)) + ((0.049 x 6,578,732) x (170/60)) = 7,657,096.
\16\ ((0.59 x 14,456,452) x (40/60)) + ((0.361 x 14,456,452) x
(105/60)) + ((0.049 x 14,456,452) x (170/60)) = 16,826,105.
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Estimated Total Reporting Cost: Considering the comments received
in response to the NPRM, the final BOI reporting rule makes clear that
the costs for filing initial BOI reports will vary depending on the
complexity of a reporting company's structure. FinCEN therefore
estimates a range of costs associated with filing an initial BOI report
to account for the likely variance among reporting companies. FinCEN
estimates the average cost of filing an initial BOI report per
reporting company to be a range of $85.14 for entities with simple
beneficial ownership structures to $2,614.87 for entities with complex
beneficial ownership structures.\17\ FinCEN estimates the average cost
of filing an updated BOI report per reporting company to be $37.84 to
$560.81.\18\
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\17\ (90/60) x $56.76 = $85.14 and ((650/60) x $56.76) + $2,000
= $2,614.87.
\18\ (40/60) x $56.76 = $37.84 and ((170/60) x $56.76) + $400 =
$560.81.
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For initial BOI reports, the range of total costs in Year 1 (2024),
assuming for the lower bound that all reporting companies are simple
structures and assuming for the upper bound that all reporting
companies are complex structures, is $2.8 billion to $85.1 billion.\19\
Applying the distribution of reporting companies' structures explained
in connection with Table 1, FinCEN calculates total costs in Year 1
(2024) of initial BOI reports to be $21.7 billion.\20\ In Year 2 (2025)
and onward, in which FinCEN assumes that initial BOI reports will be
filed by newly created entities, the range of total costs is $425.6
million to $13.1 billion annually.\21\ Applying the reporting
companies' structure distribution, the estimated total cost of initial
BOI reports annually in Year 2 (2025) and onward is $3.3
billion.<SUP>22</SUP> <SUP>23</SUP>
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\19\ (32,556,929 x $85.14) = $2,771,769,963.58 and (32,556,929 x
$2,614.87) = $85,132,196,638.53.
\20\ ((0.59 x 32,556,929) x $85.14) + ((0.361 x 32,556,929) x
$1,350.00) + ((0.049 x 32,556,929) x $2,614.87) =
$21,673,487,885.48.
\21\ (4,998,468 x $85.14) = $425,550,075.79 and (4,998,468 x
$2,614.87) = $13,070,353,315.07.
\22\ ((0.59 x 4,998,468) x $85.14) + ((0.361 x 4,998,468) x
$1,350.00) + ((0.049 x 4,998,468) x $2,614.87) = $3,327,532,419.21
\23\ FinCEN assumes that each reporting company will make one
initial BOI report. Given the implementation period of one year to
comply with the rule for entities that were formed or registered
prior to the effective date of the final BOI reporting rule, FinCEN
assumes that all the entities that meet the definition of reporting
company will submit their initial BOI reports in Year 1 (2024),
totaling 32.6 million reports. Additionally, FinCEN has applied a
6.83 percent growth factor each year since the date of the
underlying source (2020) to account for the creation of new
entities. For analysis purposes, FinCEN assumes that the number of
new entities per year from years 2 through 10 (2025 to 2033) will be
the same as the 2024 new entity estimate, which accounts for a
growth factor of 13.1 percent per year from the date of the
underlying source (2020) through 2024. Annually thereafter, FinCEN
assumes no change in the number of new entities. FinCEN provides an
alternative cost analysis in the conclusion section where the 13.1
percent growth factor continues throughout the entire 10-year time
horizon of the analysis (i.e., through 2033). However, this growth
factor is possibly an overestimate given that it is a based on a
relatively narrow timeframe of data (two years).
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For updated BOI reports, the range of total costs in Year 1 (2024),
assuming for the lower bound that all reporting companies are simple
structures and assuming for the upper bound that all reporting
companies are complex structures, is $249 million to $3.7 billion.\24\
Applying the distribution of reporting companies' structures, FinCEN
calculates total costs in Year 1 (2024) of updated BOI reports to be $1
billion.\25\ In Year 2 (2025) and onward, the range of total costs is
$547 million to $8.1 billion annually.\26\ Applying the reporting
companies' structure distribution, the estimated total cost of updated
BOI reports annually in Year 2 (2025) and onward is $2.3 billion.\27\
The total five-year average of costs is $6,996,732,512 for initial
reports and $2,033,391,518 for updated reports.
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\24\ (6,578,732 x $37.84) = $248,927,811.14 and (6,578,732 x
$560.81) = $3,689,435,948.74.
\25\ ((0.59 x 6,578,732) x $37.84) + ((0.361 x 6,578,732) x
$299.33) + ((0.049 x 6,578,732) x $560.81) = $1,038,524,428.72.
\26\ (14,456,452 x $37.84) = $547,007,086.12 and (14,456,452 x
$560.81) = $8,107,360,919.04.
\27\ ((0.59 x 14,456,452) x $37.84) + ((0.361 x 14,456,452) x
$299.33) + ((0.049 x 14,456,452) x $560.81) = $2,282,108,290.77.
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Please note, there are no non-labor costs associated with these
collections of information, because FinCEN assumes that reporting
companies already have the necessary equipment and tools to comply with
the regulatory requirements.
Request for Comments
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless it displays a valid
OMB control
[[Page 2763]]
number. Comments submitted in response to this notice will be
summarized and included in the request for OMB approval. All comments
will become a matter of public record. Comments are invited on: (a)
whether the collection of information is necessary for the proper
performance of the functions of the agency, including whether the
information shall have practical utility; (b) the accuracy of the
agency's estimate of the burden of the collection of information; (c)
ways to enhance the quality, utility, and clarity of the information to
be collected; (d) ways to minimize the burden of the collection of
information on respondents, including through the use of technology;
and (e) estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services required to provide information.
Himamauli Das,
Acting Director, Financial Crimes Enforcement Network.
Appendix--Beneficial Ownership Information (BOI) Report Summary of Data
Fields
Note: Lines that must be filled in for a report to be accepted
are identified with the * symbol next to the line number. Italicized
text provides a description and/or explanation of lines and response
options for purposes of this PRA notice.
Filing Information
1. * Type of filing (check only one box for lines 1a-1d)
a. Initial report
b. Correct prior report (if this box is checked, then you must
fill out lines 1e-1h (Reporting Company information associated with
most recent report))
c. Update prior report (if this box is checked, then you must
fill out lines 1e-1h (Reporting Company information associated with
most recent report))
d. New exempt entity (if this box is checked, then you must fill
out lines 1e-1h (Reporting Company information associated with most
recent report) and no other lines in the report)
Reporting Company information associated with most recent
report, if any: (Lines 1e-1h must be filled out when the type of
filing is ``Correct prior report'' (line 1b), ``Update prior
report'' (line 1c), or ``Newly exempt entity'' (line 1d) in order to
link the new filing to the previous filing)
e. Legal name
f. Tax identification type (select one from list of options)
[ssquf] EIN
[ssquf] SSN/ITIN
[ssquf] Foreign
g. Tax identification number
h. Country/Jurisdiction (if foreign tax ID only) (select from
list of countries/jurisdictions)
2. Date prepared (assigned automatically when filer finalizes
report) (line 2 populates automatically with the date when the filer
selects ``Finalize'' on the form)
Part I. Reporting Company Information
3. Request to receive FinCEN Identifier (FinCEN ID) (check the box
to receive a FinCEN ID)
4. Foreign pooled investment vehicle (check the box if Reporting
Company is a foreign pooled investment vehicle)
Full legal name and alternate name(s):
5. * Reporting Company legal name
6. Alternate name (e.g., trade name, DBA) (multiple alternate names
may be reported)
Form of identification:
7. * Tax identification type (select one from list of options)
[ssquf] EIN
[ssquf] SSN/ITIN
[ssquf] Foreign
8. * Tax identification number
9. Country/Jurisdiction (if foreign tax ID only) (select from list
of countries/jurisdictions)
Jurisdiction of formation or first registration:
10. * a. Country/Jurisdiction of formation (select from list of
countries/jurisdictions, including the United States, each U.S.
Territory,\28\ and all foreign countries. If United States is
selected, complete lines 10b, 10c, or 10d as applicable; if a U.S.
Territory is selected, line 10b populates automatically with the
selected U.S. Territory; if a foreign country is selected, complete
lines 10e, 10f, or 10g as applicable.)
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\28\ U.S. Territories are considered part of the United States
for purposes of determining the reporting obligations of domestic
and foreign Reporting Companies. However, per ISO standard 3166-1,
U.S. Territories are listed as jurisdictions separate from the
United States for database management purposes.
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Domestic Reporting Company:
b. State of formation (select from list of U.S. States; if a
U.S. Territory is selected in line 10a, line 10b populates
automatically with the selected U.S. Territory)
c. Tribal jurisdiction of formation (select from list of Tribes
and ``Other Tribe'')
d. Name of other Tribe (enter name of other Tribe not included
in list for line 10c, only available if ``Other Tribe'' selected in
line 10c)
Foreign Reporting Company:
e. State of first registration (select from list of U.S. States
and U.S. Territories)
f. Tribal jurisdiction of first registration (select from list
of Tribes and ``Other Tribe'')
g. Name of other Tribe (enter name of other Tribe not included
in list for line 10f, only available if ``Other Tribe'' selected in
line 10f)
Current U.S. address:
11. * Address (number, street, and apt. or suite no.)
12. * City
13. * U.S. or U.S Territory
14. * State (select from list of U.S. States; if a U.S. Territory is
selected in line 13, line 14 populates automatically with the
selected U.S. Territory)
15. * ZIP Code
16. Existing Reporting Company (check if Reporting Company was
created or registered before January 1, 2024) (if this box is
checked, then Company Applicant information is not required)
Part II. Company Applicant Information (report up to two Company
Applicants, lines 18-33 are repeated for each Company Applicant)
17. Unable to identify all Company Applicants (check if you are
unable to obtain any required information about one or more Company
Applicants)
Company Applicant FinCEN ID:
18. FinCEN ID (if FinCEN Identifier is not provided, information
about the Company Applicant must be provided in the lines below)
Full legal name:
19. * Individual's last name
z. Unknown (check the box if you are not able to obtain this
information about the Company Applicant)
20. * First name
z. Unknown (check the box if you are not able to obtain this
information about the Company Applicant)
21. Middle name (required if the Company Applicant has a middle
name)
22. Suffix (required if the Company Applicant's name has a suffix)
Date of birth:
23. * Date of birth
z. Unknown (check the box if you are not able to obtain this
information about the Company Applicant)
Current address:
24. * Address type (check the appropriate box for lines 24a, 24b, or
24z)
a. Business address
b. Residential address
z. Unknown (check the box if you are not able to obtain this
information about the Company Applicant)
25. * Address (number, street, and apt. or suite no.)
z. Unknown (check the box if you are not able to obtain this
information about the Company Applicant)
26. * City
z. Unknown (check the box if you are not able to obtain this
information about the Company Applicant)
27. * Country/Jurisdiction (select from list of countries/
jurisdictions)
z. Unknown (check the box if you are not able to obtain this
information about the Company Applicant)
28. * State (select from list when United States, Canada, or Mexico
is the country/jurisdiction selected in line 27; if a U.S. Territory
is the country/jurisdiction selected in line 27, line 28 populates
automatically with the selected U.S. Territory; if a foreign country
is the country/jurisdiction selected in line 45, line 46 remains
empty)
z. Unknown (check the box if you are not able to obtain this
information about the Company Applicant)
29. * ZIP/Foreign postal code
[[Page 2764]]
z. Unknown (check the box if you are not able to obtain this
information about the Company Applicant)
Form of identification and issuing jurisdiction:
30. * Identifying document type (select one from list of lines 30a-
30d or check box 30z)
a. State-issued driver's license
b. State/local/Tribe-issued ID
c. U.S. passport
d. Foreign passport
z. Unknown (check the box if you are not able to obtain this
information about the Company Applicant)
31. * Identifying document number
z. Unknown (check the box if you are not able to obtain this
information about the Company Applicant)
32. * Identifying document issuing jurisdiction (select country/
jurisdiction in line 32a or checkbox 32z, and complete lines 32b-32d
if applicable)
a. Country/Jurisdiction (select from list of countries/
jurisdictions)
z. Unknown (check the box if you are not able to obtain this
information about the Company Applicant)
b. State (select from list when the United States is the
country/jurisdiction selected in line 32a and the identifying
document is issued by a State; if a U.S. Territory is the country/
jurisdiction selected in line 32a, line 32b populates automatically
with the selected U.S. Territory; if a foreign country is the
country/jurisdiction selected in line 32a, line 32b remains empty)
z. Unknown (check the box if you are not able to obtain this
information about the Company Applicant)
c. Local/Tribal (select from list when the United States is the
country/jurisdiction selected in line 32a and the identifying
document is issued by a local jurisdiction or Tribe; if local
jurisdiction or Tribe is not included in list, select ``Other'' and
go to line 32d; if a U.S. territory or foreign country is the
country/jurisdiction selected in line 32a, line 32c remains empty)
z. Unknown (check the box if you are not able to obtain this
information about the Company Applicant)
d. Other local/Tribal name (only available if ``Other'' selected
in line 32c; enter name of local jurisdiction or Tribe that was not
included in the list for line 32c)
33. * Identifying document image (attach image of identifying
document referred to in lines 31-33) (instructions on upload process
will be provided here)
a. Unknown (check the box if you are not able to obtain this
information about the Company Applicant)
Part III. Beneficial Owner Information (multiple Beneficial Owners may
be reported, lines 35-51 are repeated for each Beneficial Owner)
34. Unable to identify all Beneficial Owners (check if you are
unable to obtain any required information on one or more Beneficial
Owners)
35. Parent/Guardian information instead of minor child (check if the
Beneficial Owner is a minor child and the parent/guardian
information is provided instead)
Beneficial Owner FinCEN ID:
36. FinCEN ID (if FinCEN Identifier is not provided, information
about the Beneficial Owner must be provided in the lines below)
Exempt entity:
37. Exempt entity (check the box when an exempt entity is being
reported in lieu of a Beneficial Owner's information; if checked,
provide the legal name of the exempt entity in line 38, and lines
39-41 are grayed out)
Full legal name:
38. * Individual's last name (or Exempt entity's legal name if line
37 box is checked
z. Unknown (check the box if you are not able to obtain this
information about the Beneficial Owner)
39. * First name
z. Unknown (check the box if you are not able to obtain this
information about the Beneficial Owner)
40. Middle name (required if the Beneficial Owner has a middle name)
41. Suffix (required if the Beneficial Owner's name has a suffix)
Date of birth:
42. * Date of birth
z. Unknown (check the box if you are not able to obtain this
information about the Beneficial Owner)
Residential address:
43. * Address (number, street, and apt. or suite no.)
z. Unknown (check the box if you are not able to obtain this
information about the Beneficial Owner)
44. * City
z. Unknown (check the box if you are not able to obtain this
information about the Beneficial Owner)
45. * Country/Jurisdiction (select from list of countries/
jurisdictions)
z. Unknown (check the box if you are not able to obtain this
information about the Beneficial Owner)
46. * State (select from list when United States, Canada, or Mexico
is the country/jurisdiction selected in line 45; if a U.S. Territory
is the country/jurisdiction selected in line 45, line 46 populates
automatically with the selected U.S. Territory; if a foreign country
is the country/jurisdiction selected in line 45, line 46 remains
empty)
z. Unknown (check the box if you are not able to obtain this
information about the Beneficial Owner)
47. * ZIP/Foreign postal code
z. Unknown (check the box if you are not able to obtain this
information about the Beneficial Owner)
Form of identification and issuing jurisdiction:
48. * Identifying document type (select one from list of lines 48a-
48d or checkbox 48z)
a. State-issued driver's license
b. State/local/Tribe-issued ID
c. U.S. passport
d. Foreign passport
z. Unknown (check the box if you are not able to obtain this
information about the Beneficial Owner)
49. * Identifying document number
z. Unknown (check the box if you are not able to obtain this
information about the Beneficial Owner)
50. * Identifying document issuing jurisdiction (select country/
jurisdiction in line 50a or checkbox 50z, and complete lines 50b-50d
if applicable)
a. Country/Jurisdiction (select from list of countries/
jurisdictions)
z. Unknown (check the box if you are not able to obtain this
information about the Beneficial Owner)
b. State (select from list when the United States is the
country/jurisdiction selected in line 50a and the identifying
document is issued by a State; if a U.S. Territory is the country/
jurisdiction selected in line 50a, line 50b populates automatically
with the selected U.S. Territory; if a foreign country is the
country/jurisdiction selected in line 50a, line 50b remains empty)
z. Unknown (check the box if you are not able to obtain this
information about the Beneficial Owner)
c. Local/Tribal (select from list when the United States is the
country/jurisdiction selected in line 50a and the identifying
document is issued by a local jurisdiction or Tribe (if local
jurisdiction or Tribe is not included in the list, select ``Other''
and go to line 50d); if a U.S. Territory or foreign country is the
country/jurisdiction selected in line 50a, line 50c remains empty)
z. Unknown (check the box if you are not able to obtain this
information about the Beneficial Owner)
d. Other local/Tribal name (only available if ``Other'' selected
in line 50c; enter name of local jurisdiction or Tribe that was not
included in list for line 50c)
51. * Identifying document image (attach image of identifying
document referred to in in lines 48-50) (instructions on upload
process will be provided here)
z. Unknown (check the box if you are not able to obtain this
information about the Beneficial Owner)
[FR Doc. 2023-00703 Filed 1-13-23; 8:45 am]
BILLING CODE 4810-02-P
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</html>Indexed from Federal Register on January 17, 2023.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.