Beneficial Ownership Outreach Toolkit: Action Steps
Tick tock! The beneficial ownership clock is ticking for business accountholders. The deadline is looming and if your existing business accountholders are not registered by January 1, 2025, the fine is $500 per day, up to $10,000 per instance. Join this well-timed webinar to get expert insight on using FinCEN’s new toolkit to get businesses registered and avoid significant losses.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Develop an action plan for notifying business accountholders
- Explain the features of the registration process
- Obtain exact verbiage for your social media and emails
- Update your information on beneficial ownership
- Identify the fines for accountholders who don’t register
- Understand the notice of what financial institutions are still required to do versus the federal registration and rules
WEBINAR DETAILS
As you might expect, the CDD rule is still not out at the time of this printing. BUT – and it is a big BUT – FinCEN has issued a toolkit for emails and social media examples to let businesses know what is happening. Many financial institutions have had concerns about liability for notifying accountholders of upcoming registrations and this should alleviate that concern. With FinCEN’s toolkit and verbiage, you can compliantly convey everything businesses need to know about the changes. This program will provide an update on beneficial ownership and help you develop an action plan for December.
WHO SHOULD ATTEND?
This timely webinar will benefit BSA officers and staff, compliance personnel, marketing professionals, trainers, deposit and loan operations staff, and management.
