U.S. FinCEN Provides New Beneficial Ownership Reporting FAQs Regarding Companies that Cease to Exist and Companies That Stop Doing Business in the U.S.

The U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) has published new and updated FAQs on the beneficial ownership reporting requirements that apply from 1 January 2024. The new and updated FAQs, issued on 10 September 2024, concern reporting companies that cease to exist before the initial report is due, foreign companies that stop doing business in the U.S., and notification of historical beneficial owners.

The new and updated FAQs are as follows:

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