{"id":3142,"date":"2024-05-24T07:49:44","date_gmt":"2024-05-24T07:49:44","guid":{"rendered":"https:\/\/investmentlawyers.com\/cta\/?page_id=3142"},"modified":"2024-05-24T07:57:18","modified_gmt":"2024-05-24T07:57:18","slug":"chapter4","status":"publish","type":"page","link":"https:\/\/investmentlawyers.com\/cta\/chapter4\/","title":{"rendered":"Chapter4"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"3142\" class=\"elementor elementor-3142\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b2a715b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b2a715b\" 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-e96dcf8\" data-id=\"e96dcf8\" 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-5154910 elementor-widget elementor-widget-text-editor\" data-id=\"5154910\" 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=\"04\"><\/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-a892fc7 elementor-widget elementor-widget-image\" data-id=\"a892fc7\" 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\/img04.jpg\" class=\"attachment-full size-full wp-image-512\" alt=\"\" srcset=\"https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/img04.jpg 662w, https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/img04-600x108.jpg 600w, https:\/\/investmentlawyers.com\/cta\/wp-content\/uploads\/2024\/05\/img04-300x54.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-c396fde elementor-widget elementor-widget-text-editor\" data-id=\"c396fde\" 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\tThis chapter covers what information needs to be included in a BOI report to FinCEN. BOI\nreports require specific pieces of information about your company, its beneficial owners, and,\nin the cases described in section 3.1, its company applicants. Additionally, this chapter covers\nwhat information needs to be provided to obtain a FinCEN identifier. The person submitting\ninformation to FinCEN must certify that it is true, correct, and complete. This chapter includes\nthe following sections:\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-589d7dc elementor-widget elementor-widget-text-editor\" data-id=\"589d7dc\" 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><li><b>4.1 What information should I collect about my company, its beneficial owners, and its company applicants?<\/b><\/li><li><b>3.2 Who is a company applicant of my company?<\/b><\/li><\/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-a3716dc elementor-widget elementor-widget-text-editor\" data-id=\"a3716dc\" 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\tThis chapter generally covers 1010.380(b),\u201cContent, form, and manner of reports\u201d. \t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-acc7837 elementor-widget elementor-widget-heading\" data-id=\"acc7837\" 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=\"4.1\"><\/a>4.1 What information should I collect about my company, its\nbeneficial owners, and its company applicants?<\/h5>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-673ff2f elementor-widget elementor-widget-text-editor\" data-id=\"673ff2f\" 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\tThe following checklists may help you identify the information about your company and its\nbeneficial owners and company applicants that you are required to collect and report.\n\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\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-52c706c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"52c706c\" 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-62792dd\" data-id=\"62792dd\" 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-ac8a0ed elementor-widget elementor-widget-text-editor\" data-id=\"ac8a0ed\" 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>Chart 7 \u2013 Required information checklists<\/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-00434e3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"00434e3\" 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-a9d45c3\" data-id=\"a9d45c3\" 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-4d2df42 elementor-widget elementor-widget-heading\" data-id=\"4d2df42\" 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\">Reporting Company<\/h6>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0314b16 elementor-widget elementor-widget-html\" data-id=\"0314b16\" 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\"> Full legal name<\/label><br>\n  <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Any trade name or \u201cdoing business as\u201d (DBA) name<\/label>\n  <p style=\"padding:0 0 0 30px \"> \u00bb Report all trade names or DBAs.<\/p>\n   <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Complete current U.S. address<\/label>\n  <p style=\"padding:0 0 0 30px \"> \u00bb Report the address of the principal place of business in United States, or, if the reporting\ncompany\u2019s principal place of business is not in the United States, the primary location in\nthe United States where the company conducts business.<\/p>\n\n<input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> State, Tribal, or foreign jurisdiction of formation<\/label><br\/>\n  <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> For a foreign reporting company only, State or Tribal jurisdiction of first registration<\/label><br>\n <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Internal Revenue Service (IRS) Taxpayer Identification Number (TIN) (including an Employer\nIdentification Number (EIN))<\/label> \n\n<p style=\"padding:0 0 0 30px \"> \u00bb If a foreign reporting company has not been issued a TIN, report a tax identification\nnumber issued by a foreign jurisdiction and the name of such jurisdiction.\n<\/p>\n\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a785336 elementor-widget elementor-widget-heading\" data-id=\"a785336\" 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\">Each Beneficial Owner and Company Applicant<\/h6>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-db29560 elementor-widget elementor-widget-text-editor\" data-id=\"db29560\" 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>Not all reporting companies are required to report information about company applicants. See Chapter 3 for assistance in identifying whether your company is required to report company applicant information<\/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-ef0b6ae elementor-widget elementor-widget-html\" data-id=\"ef0b6ae\" 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\"> Full legal name<\/label><br>\n  <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Date of birth<\/label>\n  <br>\n  <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Complete current address <\/label>\n  <p style=\"padding:0 0 0 30px \"> \u00bb  Report the individual\u2019s residential street address, except for company applicants who form\nor register a company in the course of their business, such as paralegals. For such individuals,\nreport the business street address. The address is not required to be in the United States<\/p>\n   <input type=\"checkbox\" id=\"vehicle1\" name=\"vehicle1\" value=\"Bike\">\n  <label for=\"vehicle1\"> Unique identifying number and issuing jurisdiction from, and image of, one of the following\nnon-expired documents:\n<\/label>\n  <p style=\"padding:0 0 0 30px \"> \u00bb U.S. passport<\/p>\n  <p style=\"padding:0 0 0 30px \"> \u00bb State driver\u2019s license<\/p>\n  <p style=\"padding:0 0 0 30px \"> \u00bb Identification document issued by a state, local government, or tribe <\/p>\n  <p style=\"padding:0 0 0 30px \"> \u00bb If an individual does not have any of the previous documents, foreign passport<\/p>\n\n\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-top-section elementor-element elementor-element-7afa02b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7afa02b\" 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-02163b8\" data-id=\"02163b8\" 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-1ea030f elementor-widget elementor-widget-text-editor\" data-id=\"1ea030f\" 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<i>f an individual has obtained a FinCEN identifier and provided it to a reporting company, the reporting company may include such FinCEN identifier in its report instead of the information required about the individual.<\/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-d5169ad elementor-widget elementor-widget-heading\" data-id=\"d5169ad\" 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=\"4.2\"><\/a>4.2 What do I report if a special reporting rule applies to\nmy company?\n<\/h5>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-37946b0 elementor-widget elementor-widget-text-editor\" data-id=\"37946b0\" 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 Reporting Rule includes four special reporting rules that may affect your company\u2019s reporting obligations.<\/p><p>1. Owned by exempt entity: You do not need to report information about any beneficial owner whose ownership interests in a reporting company are held through one or more entities, all of which are themselves exempt from the reporting company definition. Refer to Chapter 1.2 for the types of entities that are exempt from the reporting company definition.<\/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-7356b14 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"7356b14\" 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\">If this special rule applies, then you may report the names of all of the exempt entities instead of information about the individual who is a beneficial owner of your company through ownership interests in those exempt entities.<\/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-afee08f elementor-widget elementor-widget-text-editor\" data-id=\"afee08f\" 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\tExample: A large operating company owns 50% of the ownership interests in your\ncompany. Large operating companies are exempt from the reporting company definition\n(see Exemption #21). Individual A owns 50% of the large operating company, and therefore\nowns 25% of the ownership interests in your company (50% \u00d7 50% = 25%). You may report\nthe name of the large operating company instead of Individual A\u2019s personal information\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1925fb9 elementor-widget elementor-widget-text-editor\" data-id=\"1925fb9\" 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. Minor child: You do not need to report information about a beneficial owner of the reporting company who is a minor child, provided you have reported the required information about the minor child\u2019s parent or legal guardian.<\/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-e7e42dd elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"e7e42dd\" 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\">If this special rule applies, you may report the required information about the child\u2019s parent or legal guardian instead of the child.<\/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-9ff0a09 elementor-widget elementor-widget-text-editor\" data-id=\"9ff0a09\" 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>Note: If you report a parent or legal guardian\u2019s information instead of a minor child\u2019s information, then you must indicate in your BOI report that the information relates to a parent or legal guardian of the minor child.<\/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-0f1bceb elementor-widget elementor-widget-text-editor\" data-id=\"0f1bceb\" 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. Foreign pooled investment vehicle: You do not need to report information about each\nbeneficial owner and company applicant if your company was formed under the laws of a\nforeign country and would be a reporting company if not for the pooled investment vehicle exemption (Exemption #18).\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3e90638 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"3e90638\" 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\">If this special rule applies, you must report one individual who exercises substantial control over the company. You do not need to report any company applicants. If more than one individual exercise substantial control over the company, you must report information about the individual who has the greatest authority over the strategic management 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-d347e4c elementor-widget elementor-widget-text-editor\" data-id=\"d347e4c\" 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. Company applicant reporting for existing companies: If the reporting company was created\nor registered before January 1, 2024, you do not need to report any company applicant\ninformation for the reporting 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-4786c74 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"4786c74\" 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\">If this special rule applies, do not report company applicants. Specify on the BOI report that the company was created or registered before January 1, 2024.<\/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-e061931 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e061931\" 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-68cab52\" data-id=\"68cab52\" 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-bce6714 elementor-widget elementor-widget-heading\" data-id=\"bce6714\" 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=\"4.3\"><\/a>4.3 What is a FinCEN identifier and how can I use it?\n<\/h5>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ea8872d elementor-widget elementor-widget-text-editor\" data-id=\"ea8872d\" 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>A \u201cFinCEN identifier\u201d is a unique identifying number that FinCEN will issue to an individual or reporting company upon request after the individual or reporting company provides certain information to FinCEN.<\/p><ul><li>An individual or reporting company is not required to obtain a FinCEN identifier.<\/li><li>An individual or reporting company may only receive one FinCEN identifier.<\/li><li>Your company may include FinCEN identifiers in its BOI report instead of certain required information about beneficial owners or company applicants.<\/li><\/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-4d0d31c elementor-widget elementor-widget-text-editor\" data-id=\"4d0d31c\" 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>FinCEN Identifiers for Individuals<\/b><\/p><p>Individuals may electronically apply for FinCEN identifiers. In the application, an individual must provide their name, date of birth, address, unique identifying number and issuing jurisdiction from an acceptable identification document, and an image of the identification document \u2013 the same four pieces of personal information and image reporting companies submit about beneficial owners and company applicants in BOI reports (section 4.1). After an individual submits an application, the individual will immediately receive a FinCEN identifier unique to that individual.<\/p><p>Once a beneficial owner or company applicant has obtained a FinCEN identifier, reporting companies may report it in place of the otherwise required four pieces of personal information about the individual in BOI reports.<\/p><p><u><b>FinCEN Identifiers for Reporting Companies<\/b><\/u><\/p><p>Your company may request a FinCEN identifier when it submits a BOI report by checking a box on the reporting form.<\/p><p><u><b>Updates or Corrections<\/b><\/u><\/p><p>When the information an individual or reporting company reported to FinCEN to obtain a FinCEN identifier changes, or when the individual or reporting company discovers that reported information is inaccurate, the individual or reporting company must update or correct the reported information, as applicable. See Chapter 6 for more information on the update and correction requirements, including timelines.<\/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<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>This chapter covers what information needs to be included in a BOI report to FinCEN. BOI reports require specific pieces [&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\/3142"}],"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=3142"}],"version-history":[{"count":0,"href":"https:\/\/investmentlawyers.com\/cta\/wp-json\/wp\/v2\/pages\/3142\/revisions"}],"wp:attachment":[{"href":"https:\/\/investmentlawyers.com\/cta\/wp-json\/wp\/v2\/media?parent=3142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}