Comments Due to NAFCU: FinCEN - Beneficial Ownership Information Access and Safeguards, and Use of FinCEN Identifiers for Entities

Important Regulatory Dates Add to Calendar 2023-01-30 17:00:00 2023-01-30 17:00:00 Comments Due to NAFCU: FinCEN - Beneficial Ownership Information Access and Safeguards, and Use of FinCEN Identifiers for Entities NAFCU would like to highlight the following: FinCEN does not plan to permit financial institutions (FIs) to run broad or open-ended queries in the beneficial ownership IT system or to receive multiple search results. Any individual authorized to receive BOI is prohibited from disclosing it except as expressly authorized by FinCEN. FinCEN intends to update the customer due diligence (CDD) rule through a future rulemaking process. Comments due to NAFCU: January 30, 2023 Comments due to FinCEN: February 14, 2023 Comment now   NAFCU will send comments on behalf of its members to FinCEN by its deadline (February 14, 2023). Location NAFCU digital@nafcu.org America/New_York public

NAFCU would like to highlight the following:

  • FinCEN does not plan to permit financial institutions (FIs) to run broad or open-ended queries in the beneficial ownership IT system or to receive multiple search results.
  • Any individual authorized to receive BOI is prohibited from disclosing it except as expressly authorized by FinCEN.
  • FinCEN intends to update the customer due diligence (CDD) rule through a future rulemaking process.

Comments due to NAFCU: January 30, 2023

Comments due to FinCEN: February 14, 2023

Comment now  

NAFCU will send comments on behalf of its members to FinCEN by its deadline (February 14, 2023).