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FinCEN exempts certain rollovers, renewals, modifications and extensions from beneficial ownership rules

Sarah Wade Garrett Fischer October 16, 2018
credit cards and cash

The Financial Crimes Enforcement Network (FinCEN) has issued a new ruling that exempts covered financial institutions from the requirement to collect beneficial ownership information on legal entity customers (such as corporations, limited liability companies and partnerships) in connection with specified rollovers, renewals, modifications and extensions of certain accounts. READ MORE