The U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) has published new and updated FAQs on the beneficial ownership reporting requirements that apply from 1 January 2024. The new FAQs, issued on 8 July 2024, concern entities created before the Corporate Transparency Act was enacted and entities that have ceased to exist.

The new FAQs are as follows:

C. 12. Do benefic…