On July 24, 2024, FinCEN updated its Beneficial Ownership Information Frequently Asked Questions. The FAQs is FinCEN’s response to inquiries received relating to the Beneficial Ownership Information Reporting Rule and Beneficial Ownership Information Access and Safeguards Rule.

In particular, FinCEN added a new question and answer regarding what type of tax identification number should be reported by a reporting company that is disregarded for US tax purposes (F.13). FinCEN also updated the FAQ G.3 which explains how an individual can obtain a tax identification number for a new company.

The BOI FAQs can be found here.

Adam Witmer

Adam Witmer is a speaker, author, and founder of the Compliance Cohort. Adam has taught hundreds of seminars and training sessions to thousands of bankers throughout the United States and teaches on all areas of regulatory compliance. Adam has written five e-books that he never published, hit a grizzly bear while driving in a National Park, and is an award winning photographer and musician (though he no longer takes photos nor plays any instruments). In his spare time, Adam can be found kayaking on the lake, doing taekwondo with his kids, working on his (project) house, or spending time with his family.

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