Fincen Permanently Ends U.S. Beneficial Ownership Reporting

On August 11, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) released a final rule that permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership (UBO) information to FinCEN under the Corporate Transparency Act. FinCEN will also delete previously reported information on U.S. persons.