Loading

Understanding Beneficial Ownership Information

Exam Questions: 10
Course Level: Basic
Pages: 84 | Content: 74, Supplemental: 10
NASBA Area of Study: Management Services
Not Acceptable for: Enrolled Agents
Version: 8405

A new Beneficial Ownership Information (BOI) Rule was implemented beginning in 2024 that hopes to prevent money laundering and other financial crimes by requiring certain companies to report who their beneficial owners are. This course will detail this new rule and answer any questions you may have about who the rule applies to and how to comply with it. PLEASE NOTE: Not accepted for Enrolled Agents. All course material provided. No prerequisites. Course level: Basic.

Choose Your Format to ADD TO CART:

Go to CART

Course Information

Table of Contents
  • Introduction
  • Does My Company Have to Report Its Beneficial Owners?
  • Who Is a Beneficial Owner of My Company?
  • Does My Company Have to Report Its Company Applicants?
  • What Specific Information Does My Company Need to Report?
  • When and How Should My Company file Its Initial BOI Report?
  • What If There Are Changes to or Inaccuracies in Reported Information?
Objectives
  • To identify the BOI reporting guidelines
  • To recognize the penalties for providing false information to FinCEN
  • To recognize what constitutes substantial control
  • To identify company applicant reporting requirements
  • To recognize the benefit of a FinCEN identifier
  • To identify when a BOI report needs to be filed
  • To identify when an updated BOI report is required

PLEASE NOTE: CPE credit measurement is based on NASBA Registry and QAS guidelines of one credit for every 50 minutes. Credit calculation may vary in different states — check with your State Board of Accountancy. Unless otherwise noted in the specific course description, no advanced preparation is required in order to register or complete any PES CPE course. Use of materials or services provided by Professional Education Services, LP ("PES") are governed by the Terms and Conditions stated on PES' website www.mypescpe.com. PES provides these courses with the understanding that it is not providing any accounting, legal, or other professional advice and assumes no liability whatsoever in connection with its use. PES has used diligent efforts to provide quality information and material to its customers, but does not warrant or guarantee the accuracy, timeliness, completeness, or currency of the information contained herein. Ultimately, the responsibility to comply with applicable legal requirements falls solely upon the individual licensee, not PES. PES encourages you to contact your state Board for the latest information and to confirm or clarify any questions or concerns you have regarding your duties or obligations as a licensed professional.