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Mandatory Compliance: Beneficial Ownership Requirements for Automatic Rollovers or Renewals

FinCEN issued this ruling to provide a 90-day limited exceptive relief to covered financial institutions from the Beneficial Ownership Requirements with respect to certain financial products and services that automatically rollover or renew (i.e., certificate of deposit (CD) or loan accounts) and were established before the Applicability Date, May 11, 2018. This exception begins, retroactively, on May 11, 2018, and will expire on August 9, 2018. Read more here.

  • August 9, 2018
  • Time: All Day
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