In this interim final rule, FinCEN revises the definition of “reporting company” in its implementing regulations to mean only those entities that are formed under the law of a foreign country and that have registered to do business in any U.S. State or Tribal jurisdiction by the filing of a document with a secretary of state or similar office (formerly known as “foreign reporting companies”).
FinCEN also exempts entities previously known as “domestic reporting companies” from BOI reporting requirements. During this webinar, learn what you need to know and do for BSA requirements! What stays and what goes for your financial institution.
What You’ll Learn
- New definitions
- What companies will report on the federal level
- What companies will still be required to report on the Certification Form at financial institutions
- Sample policy changes
- Check list for foreign entities
- CIP and CDD for foreign entities
Who Should Attend
This session is ideal for BSA officers, BSA staff, operations, compliance, training, and business development.
Instructor Bio
Deborah Crawford is the President of Gettechnical Inc., a Florida based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor’s and master’s degrees from Louisiana State University. She has 35+ years of combined teaching and banking experience.
In this interim final rule, FinCEN revises the definition of “reporting company” in its implementing regulations to mean only those entities that are formed under the law of a foreign country and that have registered to do business in any U.S. State or Tribal jurisdiction by the filing of a document with a secretary of state or similar office (formerly known as “foreign reporting companies”).
FinCEN also exempts entities previously known as “domestic reporting companies” from BOI reporting requirements. During this webinar, learn what you need to know and do for BSA requirements! What stays and what goes for your financial institution.
