As reported by our associated firms in the United States of America, we inform you about an important regulatory update, which could affect commercial companies based in the United States, as of January 1, 2024.

In accordance with the regulations issued by the Financial Crimes Enforcement Network (FinCEN), the obligation to report on the Beneficial Owner of legal entities was established.

As of the aforementioned date, all legal entities located in the US are required to present detailed information about their Beneficial Owners, in accordance with the guidelines established by FinCEN.

This measure aims to strengthen transparency in financial transactions and prevent illicit activities, such as money laundering and terrorist financing, among others.

The presentation of this information must be made before January 1, 2025, which provides a reasonable time to compile the necessary information and comply with this new regulatory obligation.

For any questions, extensions and/or clarifications, please write to info@bcfpz.com.ar