FinCEN BOI FAQ D.3

One of the indicators of substantial control is that the individual is an important decision-maker. What are important decisions?

Year: 2023Length: 48 wordsOfficial source

Cite as FinCEN Beneficial Ownership Information FAQ D.3 (Beneficial Owner)

Important decisions include decisions about a reporting company’s business, finances, and structure. An individual that directs, determines, or has substantial influence over these important decisions exercises substantial control over a reporting company. Chapter 2.1, “What is substantial control?” of FinCEN’s Small Entity Compliance Guide provides the following information:
FinCEN BOI FAQ D.3: One of the indicators of substantial control is that the individual is an important decision-maker. What are important decisions? | Justis AI