FinCEN Extends Limited Exemption for Beneficial Ownership Rules

Earlier today, August 8, 2018, FinCEN extended the temporary, 90-day limited exemptive relief for an additional thirty days.  Originally issued on May 16, 2018, the rule was effective retroactively to May 11, 2018 and was good for 90 days, meaning that it was set to expire on August 9, 2018.  

The exemption applies to the obligations of the Beneficial Ownership Rule for rollover or renewal of certain financial products and services - like certificates of deposit and loan accounts - that were established before May 11, 2018.  The temporary exemptive relief is now set to expire on September 8, 2018.

The FinCEN 30-day extension can be found here.  

The original 90-day exemption can be found here.  



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