Are any business types exempt from providing personal data?
Are any business types exempt from providing personal data?
All business types are required to provide beneficial ownership data and required by FinCEN in compliance with CIP requirements. For businesses with individual owners, like an LLC, this includes all owners that have 25% or more ownership. For businesses without owners, this includes a single controlling member that has substantial control or influence in the business. For public corporations and government entities, the controlling member is not required to provide DOB or SSN.
