Businesses Now Required to Report Who Really Owns Them: Beneficial Ownership Explained

Businesses Now Required to Report Who Really Owns Them. Beneficial Ownership Explained. In this video, Rupa Pereira, EA, AIF®, CSLP®, owner and lead adviser at FWJ Planning. explains Beneficial Ownership. Beneficial ownership interest reporting is a new regulation in the US that requires certain businesses to disclose information about the individuals who ultimately own or control them. This information includes the owner’s name, date of birth, address, and a government ID. The goal is to increase transparency and make it harder to hide illegal activity through anonymous companies. If you’re a business owner, financial advisor or tax professional, watch this video to learn more about the new requirements.