Beneficial Ownership Reporting

Our goal as your financial partner is to serve as a resource and help keep you informed. Here’s what you need to know about the Financial Crimes Enforcement Network (FinCEN) beneficial ownership reporting.

  • FinCEN began requiring businesses to register their beneficial ownership information at the beginning of 2024.
  • Existing businesses have one year to register their information with the government.
  • Countybank, like all banks, is already required to collect similar information from businesses. There will be no changes to bank reporting practices; this information is collected independently of the government.

 

Resources

FinCEN has developed a dedicated website to assist businesses in determining whether they are required to report this information and how to submit the requested information.

Alert: FinCEN has been notified of recent fraudulent attempts to solicit information from individuals and entities who may be subject to reporting requirements under the Corporate Transparency Act. The fraudulent correspondence may be titled "Important Compliance Notice" and asks the recipient to click on a URL or to scan a QR code. Those e-mails or letters are fraudulent. FinCEN does not send unsolicited requests. Please do not respond to these fraudulent messages, or click on any links or scan any QR codes within them.

Questions & Support

Our team is available to help answer questions and guide you to appropriate FinCEN resources. Please reach out to your relationship manager if you need assistance.

We also recommend reaching out to FinCEN directly: