Question of the Week: CU Reporting BOI
Fri April 26, 2024
Question:
Does my credit union need to report its own beneficial ownership information (BOI) to the Financial Crimes Enforcement Network (FinCEN)?Answer:
No. Please see FinCEN’s BOI Reporting Requirements FAQs. The table on page 6 lists 23 types of entities that are exempt from the reporting requirement. Exemption No. 4 is a credit union.
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