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Submitted URL: https://click.message.sandyspringbank.com/?qs=d75994e23e480d79bd947d3327f1460534392a23cf0b9d236b73c955f99827a2506ff23cef5c856c764ca56e57f4...
Effective URL: https://www.sandyspringbank.com/business/boi?utm_source=sfmc&utm_medium=email&utm_campaign=BOI+Client+Email+07162024&utm_term=vi...
Submission: On August 13 via manual from US — Scanned from DE

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BENEFICIAL OWNERSHIP INFORMATION REQUIREMENT FOR BUSINESSES

800.399.5919

Visit FinCEN.


BENEFICIAL OWNERSHIP INFORMATION REQUIREMENT FOR BUSINESSES

On January 1, 2024, the Corporate Transparency Act went into effect, requiring
companies doing business in the United States to report information regarding
Beneficial Ownership Information (BOI) to the Financial Crimes Enforcement
Network (FinCEN).  
 

Visit FinCEN BOI

FinCEN’s mission is to safeguard the financial system from illicit use, combat
money laundering and its related crimes including terrorism, and promote
national security through the strategic use of financial authorities and the
collection, analysis and dissemination of financial intelligence.


WHAT'S A BENEFICIAL OWNER?

A beneficial owner is a person or entity who owns or controls an interest in a
company through direct means, (e.g., shareholdings), or indirectly (e.g.,
through a broker or financial institution).

REPORTING REQUIREMENTS:

 * Existing Companies:  Companies created or registered to do business in the
   U.S. before 1/1/2024 must report by 1/1/2025.  
 * Newly Created Companies:  Companies created or registered to do business in
   the U.S. in 2024 must report within 90 days of creation/registration. 

For more information, including a compliance guide and frequently asked
questions section, please visit the FinCEN website.

Visit FinCen


FOR MORE INFORMATION:

If you have any questions regarding the new requirement, we encourage you to
review the FinCEN information and to contact them directly at the following
link: www.fincen.gov/contact.  

The FinCEN website is the best resource for businesses seeking:

 * Up-to-the-minute information regarding beneficial ownership. 
 * Questions or concerns on beneficial ownership.

Visit FinCen

sandyspringbank.com

Personal Business Wealth Mortgage

Sandy Spring Bank, the SSB logo, and From here. For here. are registered
trademarks of Sandy Spring Bank.

NMLS # 406382

© 2024 Sandy Spring Bank. All rights reserved.
PRIVACY NOTICE TERMS & CONDITIONS