Beneficial Owner Information Registry

This information is being supplied as a courtesy by Commercial Savings Bank.  The information provided is on behalf of the U.S. Financial Crimes Enforcement Network (FinCEN).  

In September 2022, the Financial Crimes Enforcement Network (FinCEN) issued a final rule implementing the beneficial ownership reporting requirements of the Corporate Transparency Act.  FinCEN is a bureau of the U.S. Department of the Treasury.  The rule requires entities who file with the Secretary of State to also file FinCEN reports no later than December 31, 2024.  Due to the legal nature of these filings we encourage you contact your attorney to assist in filing.

Companies required to report are called reporting companies. Reporting companies may have to obtain information from their beneficial owners and report that information to FinCEN.   Reporting companies include: 

1.  A corporation, a limited liability company (LLC), or was otherwise created in the United States by filing a document with a secretary of state or any similar office under the law of a state or Indian tribe; or

2.  A foreign company and was registered to do business in any U.S. state or Indian tribe by such a filing.

Twenty-three types of entities are exempt from the beneficial ownership information reporting requirements. Please review the Small Entity Compliance Guide for examples of organizations who do not have to report. 

Visit the Beneficial Ownership Information website to learn more and file a report.  Visit  FinCEN

What you need to know: FinCEN Video