{"id":3082,"date":"2024-05-24T07:15:41","date_gmt":"2024-05-24T07:15:41","guid":{"rendered":"https:\/\/investmentlawyers.com\/cta\/?page_id=3082"},"modified":"2024-05-24T07:39:32","modified_gmt":"2024-05-24T07:39:32","slug":"chapter2","status":"publish","type":"page","link":"https:\/\/investmentlawyers.com\/cta\/chapter2\/","title":{"rendered":"Chapter2"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"3082\" class=\"elementor elementor-3082\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-03d7677 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"03d7677\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fbcd1d5\" data-id=\"fbcd1d5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3287dff elementor-widget elementor-widget-text-editor\" data-id=\"3287dff\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<a name=\"02\"><\/a><a name=\"Chapter2\"><\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-046ccd5 elementor-widget elementor-widget-image\" data-id=\"046ccd5\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"662\" height=\"119\" src=\"https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/img02.jpg\" class=\"attachment-full size-full wp-image-506\" alt=\"\" srcset=\"https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/img02.jpg 662w, https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/img02-600x108.jpg 600w, https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/img02-300x54.jpg 300w\" sizes=\"(max-width: 662px) 100vw, 662px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d314146 elementor-widget elementor-widget-text-editor\" data-id=\"d314146\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>If your company is a reporting company, your next step is to identify its beneficial owners. A beneficial owner is <strong>any<\/strong> individual who, directly or indirectly:<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bbf22c1 elementor-widget elementor-widget-text-editor\" data-id=\"bbf22c1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul>\n \t<li>Exercises <em><strong>substantial control<\/strong><\/em> over a reporting company;<\/li>\n \t<li><strong>OR<\/strong><\/li>\n \t<li>Owns or controls at least 25 percent of the <em><strong>ownership interests<\/strong><\/em> of a reporting company<\/li>\n<\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a008dd2 elementor-widget elementor-widget-text-editor\" data-id=\"a008dd2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>An individual might be a beneficial owner through substantial control, ownership interests, or both. Reporting companies are not required to report the reason (i.e., substantial control or ownership interests) that an individual is a beneficial owner.<\/p><p>A reporting company can have multiple beneficial owners. For example, a reporting company could have one beneficial owner who exercises substantial control over the reporting company, and a few other beneficial owners who own or control at least 25 percent of the ownership interests of the reporting company. A reporting company could have one beneficial owner who both exercises substantial control and owns or controls at least 25 percent of the ownership interests of the reporting company. There is no maximum number of beneficial owners who must be reported<\/p><p>FinCEN expects that every reporting company will be substantially controlled by one or more individuals, and therefore that every reporting company will be able to identify and report at least one beneficial owner to FinCEN. The following four sections will assist you in determining your company\u2019s beneficial owners. If an individual qualifies as a beneficial owner, information about that individual must be reported to FinCEN in a reporting company\u2019s BOI report.<\/p><p><strong>2.1 What is substantial control?<br \/>2.2 What is an ownership interest?<br \/>2.3 What steps can I take to identify my company\u2019s beneficial owners?<br \/>2.4 Who qualifies for an exception from the beneficial owner definition?<\/strong><\/p><p><em>This chapter generally covers 1010.380(d),\u201cBeneficial owner\u201d<\/em><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d93aba2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d93aba2\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9909628\" data-id=\"9909628\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d0613c6 elementor-widget elementor-widget-heading\" data-id=\"d0613c6\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\"><a name=\"2.1\"><\/a>2.1 What is substantial control? <\/h5>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-75080ca elementor-widget elementor-widget-text-editor\" data-id=\"75080ca\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Reporting companies are required to identify all individuals who exercise substantial control over the company. There is no limit to the number of individuals who can be reported for\nexercising substantial control. An individual exercises substantial control over a reporting company if the individual meets any of four general criteria:<\/p>\n\n<p> (1) the individual is a senior officer;<br>\n(2) the individual has authority to appoint or remove certain officers or a majority of directors of\nthe reporting company; <br>\n(3) the individual is an important decision-maker; or<br>\n(4) the individual has any other form of substantial control over the reporting company. See the chart below for\ndetails about these criteria<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-98ecc3f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"98ecc3f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b81ac86\" data-id=\"b81ac86\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2312b94 elementor-widget elementor-widget-heading\" data-id=\"2312b94\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h6 class=\"elementor-heading-title elementor-size-default\">Chart 3 \u2013 Substantial control indicators<\/h6>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-f05216d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f05216d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-293ba41\" data-id=\"293ba41\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b6b9354 elementor-position-left elementor-position-left elementor-vertical-align-middle elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"b6b9354\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img decoding=\"async\" width=\"62\" height=\"62\" src=\"https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/icon01.jpg\" class=\"attachment-full size-full wp-image-992\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h5 class=\"elementor-image-box-title\">SENIOR OFFICER<\/h5><p class=\"elementor-image-box-description\">any individual holding the position or exercising the authority of a:\n<ul style=\"line-height:20px; font-size:14px; padding-top:10px;\">\n<li> President<\/li>\n<li>Chief financial officer (CFO)<\/li>\n<li> General counsel (GC)<\/li>\n<li> Chief executive officer (CEO) <\/li>\n<li>Chief operating officer (COO)<\/li>\n<\/ul>\n\n<p style=\"line-height:20px; font-size:14px; \">or any other officer, regardless of official title, who performs a similar function as these officers<\/p><\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-5210afc\" data-id=\"5210afc\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d0c1e97 elementor-position-left elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"d0c1e97\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img decoding=\"async\" width=\"62\" height=\"62\" src=\"https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/icon02.jpg\" class=\"attachment-full size-full wp-image-1003\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h5 class=\"elementor-image-box-title\">APPOINTMENT OR REMOVAL AUTHORITY<\/h5><p class=\"elementor-image-box-description\">any individual with the ability to appoint or remove any <b style=\"color:#4b4677\">SENIOR OFFICER<\/b> or a majority of the board of directors or similar body\n<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-75e6187 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"75e6187\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-e6ac244\" data-id=\"e6ac244\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b543fd4 elementor-position-left elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"b543fd4\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"63\" height=\"63\" src=\"https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/icon03.jpg\" class=\"attachment-full size-full wp-image-1025\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h5 class=\"elementor-image-box-title\">IMPORTANT DECISION-MAKER<\/h5><p class=\"elementor-image-box-description\">any individual who directs, determines, or has substantial influence over important decisions made by the reporting company, including decisions regarding the reporting company's:<br>\n<b>1. Business, such as:<\/b>\n<ul style=\"line-height:20px; font-size:14px; padding-top:10px;\">\n<li>Nature, scope, and attributes of the business<\/li>\n<li>The selection or termination of business lines or ventures, or geographic focus<\/li>\n<li>The entry into or termination, or the fulfillment or non-fulfillment, of significant contracts<\/li>\n<\/ul>\n<b> Finances, such as:<\/b>\n<ul style=\"line-height:20px; font-size:14px; padding-top:10px;\">\n<li>Sale, lease, mortgage, or other transfer of any principal assets<\/li>\n<li>Major expenditures or investments, issuances of any equity, incurrence of any significant debt, or approval of the operating budget<\/li>\n<li>Compensation schemes and incentive programs for senior officers<\/li>\n<\/ul>\n<b> Structure, such as:<\/b>\n<ul style=\"line-height:20px; font-size:14px; padding-top:10px;\">\n<li>Reorganization, dissolution, or merger<\/li>\n<li>Amendments of any substantial governance documents of the reporting company, including the articles of incorporation or similar formation documents, bylaws, and significant policies or procedures<\/li>\n<\/ul><\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-84c1fce elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"84c1fce\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-2fe9b68\" data-id=\"2fe9b68\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5abc6a1 elementor-position-left elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"5abc6a1\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"63\" height=\"63\" src=\"https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/icon04.jpg\" class=\"attachment-full size-full wp-image-1043\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h5 class=\"elementor-image-box-title\">CATCH-ALL<\/h5><p class=\"elementor-image-box-description\">any other form of substantial control over the reporting company. Control exercised in new and unique ways can still be substantial. For example, flexible corporate structures may have different indicators of control than the indicators included here\n<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d5352b6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d5352b6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-216c75c\" data-id=\"216c75c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-99f1c9c elementor-widget elementor-widget-heading\" data-id=\"99f1c9c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\"><a name=\"2.2\"><\/a>2.2 What is ownership interest?<\/h5>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d6c6c69 elementor-widget elementor-widget-text-editor\" data-id=\"d6c6c69\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Reporting companies are required to identify all individuals who own or control at least 25 percent of the ownership interests of the company. Any of the following may be an ownership\ninterest: equity, stock, or voting rights; a capital or profit interest; convertible instruments; options or other non-binding privileges to buy or sell any of the foregoing; and any other instrument, contract, or other mechanism used to establish ownership. A reporting company may have multiple types of ownership interests. The following chart identifies the ownership interest types and provides examples. <\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3bfd3b6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3bfd3b6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9523375\" data-id=\"9523375\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-cb7ecc2 elementor-widget elementor-widget-heading\" data-id=\"cb7ecc2\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h6 class=\"elementor-heading-title elementor-size-default\">Chart 4 \u2013 Ownership interests<\/h6>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-229fbb7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"229fbb7\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-ff3fcbc\" data-id=\"ff3fcbc\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-223c313 elementor-position-left elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"223c313\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"78\" height=\"77\" src=\"https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/icon001.jpg\" class=\"attachment-full size-full wp-image-1057\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h5 class=\"elementor-image-box-title\">EQUITY, STOCK, OR VOTING RIGHTS<\/h5><p class=\"elementor-image-box-description\">any interest classified as stock or anything similar, regardless whether it confers voting power or voting rights, and even if the interest is transferable <b>EXAMPLES<\/b> include:\n<ul style=\"line-height:20px; font-size:14px; padding-top:10px;\">\n<li> equity, stock, or similar instrument<\/li>\n<li>preorganization certificate or subscription transferable share of, or voting trust certificate<\/li>\n<li> or certificate of deposit for, an equity security, interest in a joint venture, or certificate of interest in a business trust<\/li>\n<\/ul>\n<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-058a985\" data-id=\"058a985\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-35fb272 elementor-position-left elementor-vertical-align-top elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"35fb272\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"78\" height=\"77\" src=\"https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/icon002.jpg\" class=\"attachment-full size-full wp-image-1058\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h5 class=\"elementor-image-box-title\">CAPITAL OR PROFIT INTEREST<\/h5><p class=\"elementor-image-box-description\">any interest in the assets or profits of a company organized as an LLC,\nwhich is similar to stock\nin a corporation and sometimes referred to as a 'unit'\n<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-722cad8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"722cad8\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-94e3cd6\" data-id=\"94e3cd6\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-61cde00 elementor-position-left elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"61cde00\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"78\" height=\"77\" src=\"https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/icon003.jpg\" class=\"attachment-full size-full wp-image-1059\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h5 class=\"elementor-image-box-title\">CONVERTIBLE INSTRUMENTS<\/h5><p class=\"elementor-image-box-description\">any instrument convertible into <span style=\"color:#df5929\">equity, stock, or voting rights<\/span> or <span style=\"color:#0a3962\">capital or profit interest<\/span>, whether or not anything needs to be paid to exercise the conversion. The <b>RELATED<\/b> items are also ownership interests:<br \/>\n\n<ul style=\"line-height:20px; font-size:14px; padding-top:10px;\">\n<li>any future on any convertible instrument<\/li>\n<li>any warrant or right to purchase, sell, or subscribe to a share or interest in <span style=\"color:#df5929\"> equity, stock,<\/span> or <span style=\"color:#0a3962\">voting rights or capital or profit interest,<\/span> even if such warrant or right is a debt<\/li>\n<\/ul>\n<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-9955db8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9955db8\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-331c727\" data-id=\"331c727\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-607c237 elementor-position-left elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"607c237\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"78\" height=\"78\" src=\"https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/icon004.jpg\" class=\"attachment-full size-full wp-image-1060\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h5 class=\"elementor-image-box-title\">OPTION OR PRIVILEGE<\/h5><p class=\"elementor-image-box-description\">any put, call, straddle, or other option or privilege of buying or selling <span style=\"color:#df5727\">equity, stock, or voting rights,<\/span> <span style=\"color:#073962\">capital or profit interest,<\/span> or <span style=\"color:#de1a82\">convertible instruments,<\/span> EXCEPT if the option or privilege is created and held by others without the knowledge or involvement of the reporting company\n<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-eb3f792 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"eb3f792\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-c993502\" data-id=\"c993502\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7596019 elementor-position-left elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"7596019\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"78\" height=\"78\" src=\"https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/icon005.jpg\" class=\"attachment-full size-full wp-image-1124\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h5 class=\"elementor-image-box-title\">CATCH-ALL<\/h5><p class=\"elementor-image-box-description\">any other instrument, contract, arrangement, understanding, relationship, or mechanism used to establish ownership\n<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0e49b7f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0e49b7f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f789dfa\" data-id=\"f789dfa\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-dd079a1 elementor-widget elementor-widget-heading\" data-id=\"dd079a1\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\"><a name=\"2.3\"><\/a>2.3 What steps can I take to identify my company\u2019s\nbeneficial owners?<\/h5>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-15d0535 elementor-widget elementor-widget-text-editor\" data-id=\"15d0535\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Your company can identify beneficial owners by taking the following steps:<\/p><p>S<b>tep 1:<\/b> Identify individuals who exercise substantial control over the company. Examples are provided below to help you identify those individuals.<\/p><p><b>Step 2:<\/b> Identify the types of ownership interests in your company and the individuals that hold those ownership interests. Examples are provided below to help identification.<\/p><p><b>Step 3:<\/b> Calculate the percentage of ownership interests held directly or indirectly by individuals to identify individuals who own or control, directly or indirectly, at least 25 percent of the ownership interests of the company.<\/p><p>Here are additional details on each step:<\/p><p><b>Step 1:<\/b> Individuals may directly or indirectly exercise substantial control. Individuals can<br \/>exercise substantial control through contracts, arrangements, understandings, relationships,<br \/>or otherwise.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-fd920fc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"fd920fc\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-538ea55\" data-id=\"538ea55\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-795b792 elementor-widget elementor-widget-text-editor\" data-id=\"795b792\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>N<b>ote for trusts:<\/b> a trustee of a<br \/>trust or similar arrangement<br \/>may exercise substantial<br \/>control over a reporting<br \/>company<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-8ead00d\" data-id=\"8ead00d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9f5a2c3 elementor-widget elementor-widget-text-editor\" data-id=\"9f5a2c3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\tExamples of direct ways to exercise substantial control over a reporting company are:\n<ul>\n<li>Board representation.<\/li>\n<li> Ownership or control of a majority of voting power<\/li>\nor voting rights.\n<li>Rights associated with financing or interest. <\/li>\n<\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-652190c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"652190c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-480bba7\" data-id=\"480bba7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8ffa2d8 elementor-widget elementor-widget-text-editor\" data-id=\"8ffa2d8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Examples of indirect ways to exercise substantial control over a reporting company are: <\/p>\n<ul>\n<li>Controlling one or more intermediary entities that separately or collectively exercise substantial control over a reporting company.<\/li>\n<li>Through arrangements or financial or business relationships with other individuals or entities acting as nominees.<\/li>\n<\/ul>\n<p>While keeping these examples in mind, the following questions can help identify which individuals exercise substantial control over your company. Multiple criteria can apply to one individual.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2e3cba0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2e3cba0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-16cc6bc\" data-id=\"16cc6bc\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-f3ba64c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f3ba64c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-cf01aa4\" data-id=\"cf01aa4\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-927e385 elementor-widget elementor-widget-heading\" data-id=\"927e385\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h6 class=\"elementor-heading-title elementor-size-default\">Substantial control question: <\/h6>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-ab57360\" data-id=\"ab57360\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d14619d elementor-widget elementor-widget-heading\" data-id=\"d14619d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h6 class=\"elementor-heading-title elementor-size-default\">Answer<\/h6>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-2414b6e\" data-id=\"2414b6e\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2c61330 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"2c61330\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h6 class=\"elementor-heading-title elementor-size-default\">If response is \u201cYes\u201d:<\/h6>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-3a08b29 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3a08b29\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-78f4877\" data-id=\"78f4877\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-eea7d55 elementor-widget elementor-widget-text-editor\" data-id=\"eea7d55\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t1. Does your company have a president, chief\nfinancial officer, general counsel, chief\nexecutive officer, or chief operating officer?\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-dd30b4d\" data-id=\"dd30b4d\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8256aab elementor-widget elementor-widget-html\" data-id=\"8256aab\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Yes<\/label><br>\n   <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> No<\/label>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-35a8e02\" data-id=\"35a8e02\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fbae366 elementor-widget elementor-widget-spacer\" data-id=\"fbae366\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-b963b76 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b963b76\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-91da081\" data-id=\"91da081\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8546cd3 elementor-widget elementor-widget-text-editor\" data-id=\"8546cd3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>2. Does your company have any other officers that perform functions similar to those of a President, chief financial officer, general counsel, chief executive officer, or chief operating officer?<\/p><p>Note: One individual may perform one or more functions for a company, or a company may not have an individual who performs any of these functions.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-e494e22\" data-id=\"e494e22\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fe3efad elementor-widget elementor-widget-spacer\" data-id=\"fe3efad\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fff90a0 elementor-widget elementor-widget-html\" data-id=\"fff90a0\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Yes<\/label><br>\n   <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> No<\/label>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-95fa478\" data-id=\"95fa478\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9e49624 elementor-widget elementor-widget-text-editor\" data-id=\"9e49624\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>There are <b>senior officers<\/b><br>in your company<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-419763d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"419763d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-fd8cd75\" data-id=\"fd8cd75\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d2bd595 elementor-widget elementor-widget-text-editor\" data-id=\"d2bd595\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>3. Does your company have a board of directors or similar body AND does any individual have the ability to appoint or remove a majority of that board or body?<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-66ccfad\" data-id=\"66ccfad\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f9af822 elementor-widget elementor-widget-html\" data-id=\"f9af822\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Yes<\/label><br>\n   <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> No<\/label>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-13f6e8e\" data-id=\"13f6e8e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0efd50a elementor-widget elementor-widget-text-editor\" data-id=\"0efd50a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>There are individuals with <b>appointment or removal authority<\/b> over your company.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-ea106c2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ea106c2\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-064e11a\" data-id=\"064e11a\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0d39fe7 elementor-widget elementor-widget-text-editor\" data-id=\"0d39fe7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t4. Does any individual have the ability to appoint or remove a senior officer of\nyour company?\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-ed23b04\" data-id=\"ed23b04\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-aa9f006 elementor-widget elementor-widget-html\" data-id=\"aa9f006\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Yes<\/label><br>\n   <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> No<\/label>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-5a9447e\" data-id=\"5a9447e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e8b29ad elementor-widget elementor-widget-spacer\" data-id=\"e8b29ad\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-9f1e429 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9f1e429\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-4ac8178\" data-id=\"4ac8178\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c7740d6 elementor-widget elementor-widget-text-editor\" data-id=\"c7740d6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>5. Does any individual direct, determine, or have substantial influence over important decisions made by your company, including decisions regarding your company\u2019s business, finances, or structure?<\/p><p><b><i>Note:<\/i><\/b> Certain employees who might fit this description are nevertheless exempt from the beneficial owner definition. See section 2.4 for more information.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-39261d3\" data-id=\"39261d3\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5d66606 elementor-widget elementor-widget-html\" data-id=\"5d66606\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Yes<\/label><br>\n   <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> No<\/label>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-c2e8c22\" data-id=\"c2e8c22\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-976faf6 elementor-widget elementor-widget-text-editor\" data-id=\"976faf6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>There are <b>important decision-makers<\/b> over your company.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-03ec2f2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"03ec2f2\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-b504242\" data-id=\"b504242\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bb0ef37 elementor-widget elementor-widget-text-editor\" data-id=\"bb0ef37\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t6. Are there any other individuals who have\nsubstantial control over your company in ways other than those identified in 1-5 above?\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-7e79569\" data-id=\"7e79569\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0eedf1b elementor-widget elementor-widget-html\" data-id=\"0eedf1b\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Yes<\/label><br>\n   <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> No<\/label>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-47faea7\" data-id=\"47faea7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0d9ec82 elementor-widget elementor-widget-text-editor\" data-id=\"0d9ec82\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>There are individuals to whom the c<b>atch-all<\/b> would apply.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9dbf192 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9dbf192\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b7e460c\" data-id=\"b7e460c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a7a706f elementor-widget elementor-widget-text-editor\" data-id=\"a7a706f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>Complete Step 1:<\/b> Once you have reviewed the examples and questions for exercising substantial control above, you will have enough information to complete Step 1 (identify the individuals who meet the substantial control criteria for your company). The individuals you have identified will be reported as beneficial owners in your company\u2019s BOI report unless they qualify for an exception, as discussed in the next section of the chapter (section 2.4).<\/p><p><b>Step 2:<\/b> Individuals may directly or indirectly own or control ownership interests. Individuals can own or control ownership interests through contracts, arrangements, understandings, relationships, or otherwise.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-311670a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"311670a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-14d8043\" data-id=\"14d8043\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b38d0b9 elementor-widget elementor-widget-text-editor\" data-id=\"b38d0b9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b><i>Note for trusts:<\/i><\/b> The following individuals may hold ownership interests in a reporting company through a trust or similar arrangement:<\/p>\n<ul>\n<li>A trustee or other individual with the\nauthority to dispose of trust assets.<\/li>\n<li>A beneficiary who is the sole\npermissible recipient of trust income\nand principal or who has the right to\ndemand a distribution of or withdraw\nsubstantially all of the trust assets.<\/li>\n<li>A grantor or settlor who has the right\nto revoke or otherwise withdraw\ntrust assets.<\/li>\n<\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-4dbddd2\" data-id=\"4dbddd2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-cb092eb elementor-widget elementor-widget-text-editor\" data-id=\"cb092eb\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\tExamples of direct ways to own or control\nownership interests in a reporting company are:\n<ul>\n\n<li>Joint ownership with one or more other persons of an undivided interest in an ownership interest.<\/li>\n<\/ul>\n\n<p>Examples of indirect ways to own or control ownership interests in a reporting company are: <\/p>\n<ul>\n<li>Owning or controlling one or more\nintermediary entities, or the ownership\ninterests of any intermediary entities,\nthat separately or collectively own or\ncontrol ownership interests of a\nreporting company<\/li>\n<li>Through another individual acting as a nominee, intermediary, custodian or agent.<\/li>\n<\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0978819 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0978819\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b4609d5\" data-id=\"b4609d5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-78e1a6a elementor-widget elementor-widget-text-editor\" data-id=\"78e1a6a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>While keeping these examples in mind, the following questions can help identify what types of <b>ownership interests<\/b> are relevant for your company. A company may have more than one type of ownership interest.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-cb30150 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"cb30150\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cbba00d\" data-id=\"cbba00d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-755cb45 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"755cb45\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-4e473c5\" data-id=\"4e473c5\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b15ef5d elementor-widget elementor-widget-heading\" data-id=\"b15ef5d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h6 class=\"elementor-heading-title elementor-size-default\">Ownership interest question:<\/h6>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-9374681\" data-id=\"9374681\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-197dcf2 elementor-widget elementor-widget-heading\" data-id=\"197dcf2\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h6 class=\"elementor-heading-title elementor-size-default\">Answer<\/h6>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-8bfb070\" data-id=\"8bfb070\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-075eed2 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"075eed2\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h6 class=\"elementor-heading-title elementor-size-default\">If response is \u201cYes\u201d:<\/h6>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-f9f95ec elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f9f95ec\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-4a4c0f0\" data-id=\"4a4c0f0\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b7af2e0 elementor-widget elementor-widget-text-editor\" data-id=\"b7af2e0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t1. Does your company issue equity, stock, or any similar instruments that confer voting power?\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-eaff04a\" data-id=\"eaff04a\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3974633 elementor-widget elementor-widget-html\" data-id=\"3974633\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Yes<\/label><br>\n   <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> No<\/label>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-9cbc952\" data-id=\"9cbc952\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bda2ece elementor-widget elementor-widget-spacer\" data-id=\"bda2ece\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-8d9d339 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8d9d339\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-5966db3\" data-id=\"5966db3\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9705ca2 elementor-widget elementor-widget-text-editor\" data-id=\"9705ca2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t2. Does your company issue any preorganization certificates or subscriptions?\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-e0d16c8\" data-id=\"e0d16c8\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f0129a6 elementor-widget elementor-widget-html\" data-id=\"f0129a6\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Yes<\/label><br>\n   <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> No<\/label>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-ce147be\" data-id=\"ce147be\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-cf92588 elementor-widget elementor-widget-spacer\" data-id=\"cf92588\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-b2049a8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b2049a8\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-1e8a422\" data-id=\"1e8a422\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ab9d9f2 elementor-widget elementor-widget-text-editor\" data-id=\"ab9d9f2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t3. Does your company issue any transferable shares of, or voting trust certificates or certificates of deposit for:\n<ul>\n<li>an equity security,<\/li>\n<li>interest in a joint venture, or<\/li>\n<li>certificate of interest in a business trust?<\/li>\n\n<\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-9d301b5\" data-id=\"9d301b5\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5e15044 elementor-widget elementor-widget-html\" data-id=\"5e15044\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Yes<\/label><br>\n   <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> No<\/label>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-5adb5b9\" data-id=\"5adb5b9\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-246bddc elementor-widget elementor-widget-text-editor\" data-id=\"246bddc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Your company has ownership interests that are <b>equity, stock, or voting rights.<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-f7359ce elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f7359ce\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-f93cd5b\" data-id=\"f93cd5b\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-97cb237 elementor-widget elementor-widget-text-editor\" data-id=\"97cb237\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t4. Your company has ownership interests\nthat are capital or profit interests.\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-d50ebd0\" data-id=\"d50ebd0\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f7a675f elementor-widget elementor-widget-html\" data-id=\"f7a675f\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Yes<\/label><br>\n   <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> No<\/label>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-a55dbf8\" data-id=\"a55dbf8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8aebc97 elementor-widget elementor-widget-text-editor\" data-id=\"8aebc97\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Your company has ownership interests that are <b>capital or profit interests.<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-22ea353 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"22ea353\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-d772f9f\" data-id=\"d772f9f\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-593a0f5 elementor-widget elementor-widget-text-editor\" data-id=\"593a0f5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>5. Does your company issue any instruments convertible into any share, equity, stock, voting rights, or capital or profit interest? <\/p>\n\n<p><b><i>Note:<\/i><\/b> It does not matter whether anything must be paid to exercise the conversion.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-7df96b4\" data-id=\"7df96b4\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-77fe074 elementor-widget elementor-widget-html\" data-id=\"77fe074\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Yes<\/label><br>\n   <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> No<\/label>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-65c9650\" data-id=\"65c9650\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-845a606 elementor-widget elementor-widget-spacer\" data-id=\"845a606\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-a55b780 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a55b780\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-6998ad9\" data-id=\"6998ad9\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d066eb4 elementor-widget elementor-widget-text-editor\" data-id=\"d066eb4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t6. Does your company issue any future on any\nconvertible instrument?\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-3c3a367\" data-id=\"3c3a367\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8ea59f9 elementor-widget elementor-widget-html\" data-id=\"8ea59f9\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Yes<\/label><br>\n   <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> No<\/label>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-17cb330\" data-id=\"17cb330\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-79564c0 elementor-widget elementor-widget-text-editor\" data-id=\"79564c0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>There are <b>important decision-makers<\/b> over your company.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-db8d9c3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"db8d9c3\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-5a53cac\" data-id=\"5a53cac\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9d3dd19 elementor-widget elementor-widget-text-editor\" data-id=\"9d3dd19\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t7. Does your company issue any warrant or right to purchase, sell, or subscribe to a share or interest in equity, stock, or voting rights, or capital or profit interests?\n\n<b>Note:<\/b> It does not matter if such warrant or right is a debt.\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-156cd13\" data-id=\"156cd13\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c3a9455 elementor-widget elementor-widget-html\" data-id=\"c3a9455\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Yes<\/label><br>\n   <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> No<\/label>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-26e9356\" data-id=\"26e9356\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0aeacbc elementor-widget elementor-widget-spacer\" data-id=\"0aeacbc\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-375cbc8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"375cbc8\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-0ada0eb\" data-id=\"0ada0eb\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9936522 elementor-widget elementor-widget-text-editor\" data-id=\"9936522\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>8. Does your company issue any non-binding put, call, straddle, or other option or privilege of buying or selling equity, stock, or voting rights, capital or<br \/>profit interest, or convertible instruments?<\/p><p><b>Note:<\/b> Options or privileges created by others without the knowledge or involvement of your company do not apply.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-0031c78\" data-id=\"0031c78\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4e70e36 elementor-widget elementor-widget-html\" data-id=\"4e70e36\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Yes<\/label><br>\n   <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> No<\/label>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-0fafcd0\" data-id=\"0fafcd0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-07c3ac4 elementor-widget elementor-widget-text-editor\" data-id=\"07c3ac4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Your company has ownership interests that are <b>options or privileges<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-62e3b5e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"62e3b5e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-30aa99c\" data-id=\"30aa99c\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-db0e2c1 elementor-widget elementor-widget-text-editor\" data-id=\"db0e2c1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>8. Does your company have any other instrument, contract, arrangement, understanding, relationship, or mechanism to establish ownership?<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-53d5591\" data-id=\"53d5591\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8a99a49 elementor-widget elementor-widget-html\" data-id=\"8a99a49\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Yes<\/label><br>\n   <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> No<\/label>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-c6dfaab\" data-id=\"c6dfaab\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-84d07d4 elementor-widget elementor-widget-text-editor\" data-id=\"84d07d4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The <b>catch-all<\/b> ownership interest applies to your company.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f6b7388 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f6b7388\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1ea64b4\" data-id=\"1ea64b4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e1d030e elementor-widget elementor-widget-text-editor\" data-id=\"e1d030e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>Complete Step 2:<\/b> Once you have reviewed the examples and questions for ownership interests above, you will have enough information to complete Step 2 (identify the individuals who hold\u00a0 ownership interests in your company). Step 3 will help you identify which of these individuals own or control 25 percent or greater of the ownership interests in your company. The individuals who own or control 25 percent or more of the ownership interests in your company will be reported as beneficial owners in your company\u2019s BOI report unless they qualify for an exception, as discussed in the next section of the chapter (section 2.4).<\/p><p><b>Step 3:<\/b> After identifying what types of ownership interests apply to your company and who owns or controls them, you must determine who owns or controls 25 percent or more of those ownership interests.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5927528 elementor-widget elementor-widget-text-editor\" data-id=\"5927528\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>If your company has issued any <b><i>options, privileges, or convertible instruments:<\/i><\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f03d548 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"f03d548\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-caret-right\" viewBox=\"0 0 192 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M0 384.662V127.338c0-17.818 21.543-26.741 34.142-14.142l128.662 128.662c7.81 7.81 7.81 20.474 0 28.284L34.142 398.804C21.543 411.404 0 402.48 0 384.662z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Assume they have been exercised or converted in all calculations below.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-35e5af7 elementor-widget elementor-widget-text-editor\" data-id=\"35e5af7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\tIf your company issues shares of stock, is a corporation (including a Subchapter S corporation), or is not a corporation but is treated as one for federal income tax purposes: \t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d765cf6 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"d765cf6\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-caret-right\" viewBox=\"0 0 192 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M0 384.662V127.338c0-17.818 21.543-26.741 34.142-14.142l128.662 128.662c7.81 7.81 7.81 20.474 0 28.284L34.142 398.804C21.543 411.404 0 402.48 0 384.662z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Calculate each individual\u2019s ownership interest as a percentage of the total shares of stock issued. If some shares of stock that your company issues have more voting power or represent more of the value of the company than other shares (for instance, if your company issues both series A shares with one vote per share and series B shares with ten votes per share), you will need to make the following two calculations. The individual\u2019s ownership interest will be the larger of the two percentages:<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b1c9b42 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b1c9b42\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-2affb9d\" data-id=\"2affb9d\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-95ee9f9 elementor-widget elementor-widget-text-editor\" data-id=\"95ee9f9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\tTotal combined voting power of all classes of the individual\u2019s ownership interests\n<p style=\"text-align: center;\">\u00f7<\/p>\nTotal outstanding voting power of all classes of ownership interests entitled to vote\n<p style=\"text-align: center;\">=<\/p>\n<b>Individual\u2019s voting power %<\/b>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-58ad8a7\" data-id=\"58ad8a7\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f59f12a elementor-widget elementor-widget-text-editor\" data-id=\"f59f12a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Total combined value of the individual\u2019s ownership interests<\/p><p style=\"text-align: center;\">\u00f7<\/p><p>Total outstanding value of all classes of ownership interests<\/p><p style=\"text-align: center;\">=<\/p><p>I<b>ndividual\u2019s ownership interest value %<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-cac1c12 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"cac1c12\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-84aa515\" data-id=\"84aa515\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5319bb7 elementor-widget elementor-widget-text-editor\" data-id=\"5319bb7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>If your company, including if your company is treated as a partnership for federal income tax purposes, <b>issues capital or profit interests:<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-228f382 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"228f382\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-caret-right\" viewBox=\"0 0 192 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M0 384.662V127.338c0-17.818 21.543-26.741 34.142-14.142l128.662 128.662c7.81 7.81 7.81 20.474 0 28.284L34.142 398.804C21.543 411.404 0 402.48 0 384.662z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Apply the following calculation: <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-98561cc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"98561cc\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-af034b0\" data-id=\"af034b0\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6dd06d3 elementor-widget elementor-widget-text-editor\" data-id=\"6dd06d3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\tIndividual\u2019s capital and profit interests<br>\n\u00f7<br>\nTotal outstanding capital and profit interests<br>\n=<br>\n<b>Individual\u2019s capital and profit interests %<\/b>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-36cacb4 elementor-widget elementor-widget-text-editor\" data-id=\"36cacb4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\tIf none of these calculations apply to your company: \t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-414ce7e elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"414ce7e\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-caret-right\" viewBox=\"0 0 192 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M0 384.662V127.338c0-17.818 21.543-26.741 34.142-14.142l128.662 128.662c7.81 7.81 7.81 20.474 0 28.284L34.142 398.804C21.543 411.404 0 402.48 0 384.662z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Identify any individual who owns or controls 25 percent or more of any class or type of ownership interest of the company.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-65590d4 elementor-widget elementor-widget-text-editor\" data-id=\"65590d4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>Complete Step 3:<\/b> After you have applied these scenarios to your company\u2019s ownership interests, you will have enough information to identify the individuals who own or control 25 percent or greater of the ownership interests in your company. You must report the individuals who own or control 25 percent or more of the ownership interests in your company as beneficial owners in your company\u2019s BOI report unless they qualify for an exception, as discussed in the next section of the chapter (section 2.4).<\/p><p><b><i>Examples of how to determine beneficial owners:<\/i><\/b><\/p><p>The following examples show how to determine beneficial owners across a variety of types of company structures. These examples assume that no exceptions apply to the beneficial owners, as discussed in the next section of the chapter (section 2.4). In the infographics for the examples, beneficial owners are noted by circles and non-beneficial owners are noted by triangles.<\/p><p><b>Example 1:<\/b> The reporting company is a limited liability company (LLC). Individual A is the sole owner and president of the company and makes important decisions for the company. No one else owns or controls ownership interests in the company or exercises substantial control over the company<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f3fedb0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f3fedb0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8b117f1\" data-id=\"8b117f1\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-210669e elementor-widget elementor-widget-image\" data-id=\"210669e\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"247\" height=\"334\" src=\"https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/reporting-img.jpg\" class=\"attachment-large size-large wp-image-1524\" alt=\"\" srcset=\"https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/reporting-img.jpg 247w, https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/reporting-img-222x300.jpg 222w\" sizes=\"(max-width: 247px) 100vw, 247px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2116f6d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2116f6d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-680f94c\" data-id=\"680f94c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fabc550 elementor-widget elementor-widget-text-editor\" data-id=\"fabc550\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Individual A is a beneficial owner of the reporting company in two different ways, assuming no other facts. First, Individual A exercises substantial control over the company because Individual A is a senior officer of the company (the president). Second, Individual A is also a beneficial owner because Individual A owns 25 percent or more of the reporting company\u2019s ownership interests.<\/p><p>Because no one else owns or controls ownership interests in the LLC or exercises substantial control over it, and assuming there are no other relevant facts, Individual A is the only beneficial owner of this reporting company, and Individual A\u2019s information must be reported to FinCEN.<\/p><p><b>Example 2:<\/b> The reporting company is a corporation. The company\u2019s total outstanding ownership interests are shares of stock. Three people (Individuals A, B, and C) own 50 percent, 40 percent, and 10 percent of the stock, respectively, and one other person (Individual D) acts as the president, for the company, but does not own any stock.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8637cdc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8637cdc\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9938357\" data-id=\"9938357\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-57cd4c4 elementor-widget elementor-widget-image\" data-id=\"57cd4c4\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"666\" height=\"409\" src=\"https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/images011.jpg\" class=\"attachment-large size-large wp-image-1540\" alt=\"\" srcset=\"https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/images011.jpg 666w, https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/images011-600x368.jpg 600w, https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/images011-300x184.jpg 300w\" sizes=\"(max-width: 666px) 100vw, 666px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7e9a7a9 elementor-widget elementor-widget-text-editor\" data-id=\"7e9a7a9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Assuming there are no other relevant facts, Individuals A, B, and D are all beneficial owners of the<br \/>company and their information must be reported. Individual C is not a beneficial owner.<\/p><p>Individual A owns 50 percent of the company\u2019s stock and therefore is a beneficial owner because 50 percent is greater than the threshold of 25 percent or more of the company\u2019s ownership interests<\/p><p>Individual B owns 40 percent of the company\u2019s stock and therefore is a beneficial owner 40 percent is also greater than the threshold of 25 percent or more of the company\u2019s ownership interests.<\/p><p>Individual C is not a senior officer of the company and does not directly or indirectly exercise any substantial control over the company<\/p><p>Individual C also owns 10 percent of the company\u2019s stock, which is less than the 25 percent or greater interest needed to qualify as a beneficial owner by virtue of ownership interests. Individual C is therefore not a beneficial owner of the company<\/p><p>Individual D is president of the company. As a senior officer of the company, Individual D exercises substantial control over the company and is therefore a beneficial owner, regardless of whether or not Individual D owns or controls 25 percent or more of the company\u2019s ownership interests.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-285e1fe elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"285e1fe\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3b2c11f\" data-id=\"3b2c11f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1aaef99 elementor-widget elementor-widget-text-editor\" data-id=\"1aaef99\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Example 3: The reporting company is an LLC with two managers, Individuals A and C. Individual A also owns 50 percent of the \u201cmembership units\u201d in the LLC while Individual C does not. Individual B owns the remaining membership units in the LLC but is not a manager<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-def181f elementor-widget elementor-widget-image\" data-id=\"def181f\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"687\" height=\"350\" src=\"https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/reporting-company.jpg\" class=\"attachment-large size-large wp-image-1553\" alt=\"\" srcset=\"https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/reporting-company.jpg 687w, https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/reporting-company-600x306.jpg 600w, https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/reporting-company-300x153.jpg 300w\" sizes=\"(max-width: 687px) 100vw, 687px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-903bb04 elementor-widget elementor-widget-text-editor\" data-id=\"903bb04\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Owners of membership units (which are a type of \u201ccapital or profit interest\u201d ownership interest) in an LLC are sometimes called \u201cmembers\u201d of the LLC. A member may not automatically be required, or authorized, to make decisions for the LLC; depending on the internal organization of the LLC, however, a member may also be a \u201cmanager.\u201d In this example, Individual A is a member and a manager. Individual B is a member but not a manager, while Individual C is a manager but not a member. All three are beneficial owners of the reporting company<\/p><p>Individual A is a manager of the LLC and owns 50 percent of the company\u2019s membership units. Individual A exercises substantial control over the LLC because Individual A makes important decisions for the LLC in the role of manager. Individual A also owns 50 percent (which is greater than the 25 percent or more threshold) of the company\u2019s ownership interests. Individual A is therefore a beneficial owner of the reporting company in two different ways, by exercising substantial control and owning or controlling 25 percent or more of the ownership interests.<\/p><p>Individual B owns 50 percent (which is greater than the 25 percent or more threshold) of the LLC\u2019s membership units. That makes Individual B a beneficial owner of the LLC even though Individual B is not a manager and does not make important decisions or otherwise exercise substantial control over the LLC.<\/p><p>Individual C is a manager of the LLC and makes important decisions on its behalf, thereby exercising substantial control over it. Individual C does not own any of the LLC\u2019s membership units (the ownership interests) but is nevertheless still a beneficial owner because the individual exercises substantial control.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8a9c502 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8a9c502\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9798991\" data-id=\"9798991\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bb6e253 elementor-widget elementor-widget-text-editor\" data-id=\"bb6e253\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><i>Example 4: A reporting company is a corporation with multiple indirect owners through Company Y and Company Z<\/i><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0c6168c elementor-widget elementor-widget-image\" data-id=\"0c6168c\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"710\" height=\"418\" src=\"https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/reporting-company01.jpg\" class=\"attachment-large size-large wp-image-1575\" alt=\"\" srcset=\"https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/reporting-company01.jpg 710w, https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/reporting-company01-600x353.jpg 600w, https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/reporting-company01-300x177.jpg 300w\" sizes=\"(max-width: 710px) 100vw, 710px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ac17846 elementor-widget elementor-widget-text-editor\" data-id=\"ac17846\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>In this example, Individuals A, B, C, and F are beneficial owners.<\/p><p>Individual A is the reporting company\u2019s Chief Financial Officer and is therefore a senior officer, which under the Reporting Rule means that Individual A exercises substantial control over the company. Individual A also indirectly owns 27.5 percent of the reporting company\u2019s stock through direct ownership of Company Y and Company Z, which each own 50 percent of the reporting company\u2019s stock. (Individual A owns 30 percent of Company Y\u2019s stock and 25 percent of Company Z\u2019s stock. Therefore, Individual A owns 15 percent of the reporting company\u2019s stock through Company Y (50% \u00d7 30% = 15%) and 12.5 percent of the reporting company\u2019s<br \/>stock through Company Z (50% \u00d7 25% = 12.5%). Adding these two percentages together equals 27.5 percent of the reporting company\u2019s stock.) Individual A is therefore a beneficial owner in two different ways, by exercising substantial control and owning or controlling 25 or more of the ownership interests of the reporting company.<\/p><p>Individual B indirectly owns 35 percent of the reporting company\u2019s stock through Company Y, which owns 50 percent of the reporting company\u2019s stock. (Individual B owns 70 percent of Company Y\u2019s stock (50% \u00d7 70% = 35%)). Individual B does not exercise substantial control. Individual B is a beneficial owner by owning or controlling 25 percent or more of the reporting company\u2019s ownership interests.<\/p><p>Individual C is the reporting company\u2019s Chief Executive Officer and president and is therefore a senior officer who exercises substantial control. Individual C indirectly owns 12.5 percent of the reporting company\u2019s stock. To calculate Individual C\u2019s indirect ownership interests in the reporting company, multiply the ownership interest of Individual C in Company Z by the ownership interest of Company Z in the reporting company. Individual C owns 25 percent of Company Z\u2019s stock and Company Z owns 50 percent of the reporting company\u2019s stock. Therefore, Individual\u2019s C ownership interests in the reporting company are 12.5 percent (25% \u00d7 50% = 12.5%), which is less than the 25 percent ownership interest threshold. Accordingly, Individual C\u2019s ownership interests in the reporting company do not make Individual C a beneficial owner, but Individual C is nevertheless a beneficial owner because Individual C exercises substantial control over the reporting company.<\/p><p>Similar to Individual C, Individuals D and E own 25 percent of Company Z\u2019s stock, and each therefore indirectly owns 12.5 percent of the reporting company\u2019s stock. In contrast to Individual C, Individuals D and E do not exercise substantial control over the reporting company. Individuals D and E are not beneficial owners.<\/p><p>Individual F is on the company\u2019s board of directors and makes important decisions on the reporting company\u2019s behalf, thereby exercising substantial control over it. Individual F does not own or control any stock in the reporting company. Individual F is therefore a beneficial owner by exercising substantial control over the reporting company, but not through holding ownership interests in it.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-22d3766 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"22d3766\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1b77916\" data-id=\"1b77916\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0b2aea4 elementor-widget elementor-widget-heading\" data-id=\"0b2aea4\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\"><a name=\"2.4\"><\/a>2.4 Who qualifies for an exception from the beneficial\nowner definition?<\/h5>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a043860 elementor-widget elementor-widget-text-editor\" data-id=\"a043860\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>There are five exceptions to the definition of beneficial owner. When an individual who would otherwise be a beneficial owner of a reporting company qualifies for an exception, the reporting company does not have to report that individual as a beneficial owner in its BOI report to FinCEN. The following checkboxes are intended to help your company determine whether any exceptions apply to individuals who might otherwise qualify as beneficial owners of your company.<\/p><p><b>Minor Child (Exception #1)<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-09b8032 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"09b8032\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a3b2266\" data-id=\"a3b2266\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-2e62fa8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2e62fa8\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-bae5b7f\" data-id=\"bae5b7f\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4dc1aa0 elementor-widget elementor-widget-text-editor\" data-id=\"4dc1aa0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>1. The individual is a minor child, as defined under the law of the State or Indian tribe in which the domestic reporting company is created or the foreign reporting company is first registered.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-92d00c0\" data-id=\"92d00c0\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-493e56b elementor-widget__width-initial elementor-widget elementor-widget-html\" data-id=\"493e56b\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Yes<\/label>\n  \n \t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b2a2833 elementor-widget__width-initial elementor-widget elementor-widget-html\" data-id=\"b2a2833\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> No<\/label>\n  \n \t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-72893f5 elementor-widget elementor-widget-text-editor\" data-id=\"72893f5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Special rule for minor child: If the answer above is yes, the reporting company may instead report information about the parent or legal guardian of the minor child.<\/p><p><b>Note:<\/b> This exception only applies if a parent or legal guardian\u2019s information is reported in lieu of the minor child\u2019s information. Also, when the minor child reaches the age of majority, as defined by the law of the State or Indian tribe in which the reporting company was created or first registered, the exception no longer applies. At that time, if the individual is a beneficial owner, the reporting company must file an updated BOI report providing the individual\u2019s own information. See Chapter 6 for more information on when an updated report may be required.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3ac22c6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3ac22c6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0a4f28b\" data-id=\"0a4f28b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9ad165c elementor-widget elementor-widget-text-editor\" data-id=\"9ad165c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>Nominee, intermediary, custodian, or agent (Exception #2)<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-e718ad9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e718ad9\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-2ed5759\" data-id=\"2ed5759\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-224a47d elementor-widget elementor-widget-text-editor\" data-id=\"224a47d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>2. The individual merely acts on behalf of an actual beneficial owner as the beneficial owner\u2019s nominee, intermediary, custodian, OR agent.<\/p>\n\n<b>Note:<\/b> Individuals who perform ordinary advisory or other contractual services (such as tax professionals) likely qualify for this exception. In scenarios where this exception applies, the actual beneficial owner must still be reported.\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-e87d1d8\" data-id=\"e87d1d8\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-cd7bdd5 elementor-widget__width-initial elementor-widget elementor-widget-html\" data-id=\"cd7bdd5\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Yes<\/label>\n  \n \t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a7c6674 elementor-widget__width-initial elementor-widget elementor-widget-html\" data-id=\"a7c6674\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> No<\/label>\n  \n \t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b88afca elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b88afca\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-aaba799\" data-id=\"aaba799\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a18462d elementor-widget elementor-widget-text-editor\" data-id=\"a18462d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<b>Employee (Exception #3)<\/b>\n<p>An individual qualifies for this exception if all three of the following criteria apply:<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-2c435c8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2c435c8\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-39249f4\" data-id=\"39249f4\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4e89519 elementor-widget elementor-widget-text-editor\" data-id=\"4e89519\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>1. The individual is an employee of the reporting company, when applying the meaning of \u201cemployee\u201d provided in\u00a0<a href=\"https:\/\/www.govinfo.gov\/content\/pkg\/CFR-2015-title26-vol19\/pdf\/CFR-2015-title26-vol19-sec54-4980H-1.pdf\" target=\"_blank\" rel=\"noopener\">26 CFR<\/a>\u00a0<a href=\"https:\/\/www.govinfo.gov\/content\/pkg\/CFR-2015-title26-vol19\/pdf\/CFR-2015-title26-vol19-sec54-4980H-1.pdf\" target=\"_blank\" rel=\"noopener\">54.4980H-1(a)(15)<\/a>. In general, the term employee means that an individual is subject to the will and control of the employer in what and how to do work, and that the employer may discharge the individual from work.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-79656e5\" data-id=\"79656e5\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6fa7977 elementor-widget__width-initial elementor-widget elementor-widget-html\" data-id=\"6fa7977\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Yes<\/label>\n  \n \t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a661b94 elementor-widget__width-initial elementor-widget elementor-widget-html\" data-id=\"a661b94\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> No<\/label>\n  \n \t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-fc416cc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"fc416cc\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-9892eeb\" data-id=\"9892eeb\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fb85a25 elementor-widget elementor-widget-text-editor\" data-id=\"fb85a25\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t2. The individual\u2019s substantial control over, or economic benefits from, the reporting company are derived solely from the employment status of the individual as an employee.\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-10aef71\" data-id=\"10aef71\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-28de809 elementor-widget__width-initial elementor-widget elementor-widget-html\" data-id=\"28de809\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Yes<\/label>\n  \n \t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9e75023 elementor-widget__width-initial elementor-widget elementor-widget-html\" data-id=\"9e75023\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> No<\/label>\n  \n \t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-24a4c4a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"24a4c4a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-a500e76\" data-id=\"a500e76\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-75689a3 elementor-widget elementor-widget-text-editor\" data-id=\"75689a3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>3. The individual is not a senior officer of the reporting company. The term \u201csenior officer\u201d means any individual holding the position or exercising the authority of a president, chief financial officer, general counsel, chief executive officer, or chief operating officer, or any other officer, regardless of official title, who performs a similar function.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-7f8f572\" data-id=\"7f8f572\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ea63159 elementor-widget__width-initial elementor-widget elementor-widget-html\" data-id=\"ea63159\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Yes<\/label>\n  \n \t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fcde2e3 elementor-widget__width-initial elementor-widget elementor-widget-html\" data-id=\"fcde2e3\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> No<\/label>\n  \n \t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a0cee33 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a0cee33\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2032e2a\" data-id=\"2032e2a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-23be7ec elementor-widget elementor-widget-text-editor\" data-id=\"23be7ec\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>Inheritor (Exception #4)<\/b><br\/>\nAn individual qualifies for this exception if the following criterion applies:<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-f4d8225 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f4d8225\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-31881e0\" data-id=\"31881e0\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6bd7253 elementor-widget elementor-widget-text-editor\" data-id=\"6bd7253\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>1. The individual\u2019s only interest in the reporting company is a <b>future<\/b> interest through a right of inheritance, such as through a will providing a future interest in a company<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-5315ac5\" data-id=\"5315ac5\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c9c26ac elementor-widget__width-initial elementor-widget elementor-widget-html\" data-id=\"c9c26ac\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Yes<\/label>\n  \n \t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bb102f5 elementor-widget__width-initial elementor-widget elementor-widget-html\" data-id=\"bb102f5\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> No<\/label>\n  \n \t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-1535c1d elementor-widget elementor-widget-text-editor\" data-id=\"1535c1d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>Note:<\/b> Once the individual inherits the interest, this exception no longer applies, and the individual may qualify as a beneficial owner. See Chapter 6 for more information on when an updated report may be required in this circumstance.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-052b291 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"052b291\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-915c8d0\" data-id=\"915c8d0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1a0dc50 elementor-widget elementor-widget-text-editor\" data-id=\"1a0dc50\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<b>Creditor (Exception #5)<\/b>\n<p>An individual qualifies for this exception if the following criterion applies:<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-0fac609 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0fac609\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-75b4b6d\" data-id=\"75b4b6d\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9b9e902 elementor-widget elementor-widget-text-editor\" data-id=\"9b9e902\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>1. The individual is a creditor of the reporting company. The term \u201ccreditor\u201d means an individual who would meet the definition of a beneficial owner of the reporting company solely through rights or interests for the payment of a predetermined sum of money, such as a debt incurred by the reporting company, or a loan covenant or other similar right associated with such right to receive payment that is intended to secure the right to receive payment or enhance the likelihood of repayment.<\/p><p>For example, an individual qualifies for the creditor exception if the individual is entitled to payment from the reporting company to satisfy a loan or debt, so long as this entitlement is the only ownership interest the individual has in the reporting company<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-b5e3dd7\" data-id=\"b5e3dd7\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-729b288 elementor-widget__width-initial elementor-widget elementor-widget-html\" data-id=\"729b288\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Yes<\/label>\n  \n \t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fc0c418 elementor-widget__width-initial elementor-widget elementor-widget-html\" data-id=\"fc0c418\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> No<\/label>\n  \n \t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>If your company is a reporting company, your next step is to identify its beneficial owners. A beneficial owner is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"site-sidebar-layout":"no-sidebar","site-content-layout":"","ast-site-content-layout":"full-width-container","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/investmentlawyers.com\/cta\/wp-json\/wp\/v2\/pages\/3082"}],"collection":[{"href":"https:\/\/investmentlawyers.com\/cta\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/investmentlawyers.com\/cta\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/investmentlawyers.com\/cta\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/investmentlawyers.com\/cta\/wp-json\/wp\/v2\/comments?post=3082"}],"version-history":[{"count":0,"href":"https:\/\/investmentlawyers.com\/cta\/wp-json\/wp\/v2\/pages\/3082\/revisions"}],"wp:attachment":[{"href":"https:\/\/investmentlawyers.com\/cta\/wp-json\/wp\/v2\/media?parent=3082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}