FinCEN issues Small Entity Compliance Guide for BOI access

FinCEN has issued a Small Entity Compliance Guide for Beneficial Ownership Information Access and Safeguards Requirements to provide an overview of the Beneficial Ownership Information Access and Safeguards Rule (Access Rule) requirements for small entities (including financial institutions) that obtain beneficial ownership information (BOI) from FinCEN.

The preface of the Guide indicates it is explanatory only, does not supplement or modify any obligations imposed by statute or regulation, and does not supersede more recent guidance documents issued by FinCEN.

The Guide and other resource materials about the Beneficial Ownership Information Reporting rules can be found on FinCEN's BOI Reference Materials webpage.