Beneficial Ownership Outreach Toolkit: Action Steps

Compliance Frontline & New Accounts Lending Marketing Operations Deposit Account Compliance Senior Management & Directors

On-Demand Webinar

StreamedNov 15, 2024Duration90 minutes

Unlimited & shareable access starting two business days after live stream
Available on desktop, mobile & tablet devices 24/7
Take-away toolkit
Ability to download webinar video
Presenter's contact info for questions

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Tick tock! The beneficial ownership clock is ticking for business accountholders.

The deadline is looming and if your existing business accountholders are not registered by January 1, 2025, the fine is $500 per day, up to $10,000 per instance. Join this well-timed webinar to get expert insight on using FinCEN’s new toolkit to get businesses registered and avoid significant losses.

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

Develop an action plan for notifying business accountholders
Explain the features of the registration process
Obtain exact verbiage for your social media and emails
Update your information on beneficial ownership
Identify the fines for accountholders who don’t register
Understand the notice of what financial institutions are still required to do versus the federal registration and rules

WEBINAR DETAILS

As you might expect, the CDD rule is still not out at the time of this printing. BUT - and it is a big BUT - FinCEN has issued a toolkit for emails and social media examples to let businesses know what is happening. Many financial institutions have had concerns about liability for notifying accountholders of upcoming registrations and this should alleviate that concern. With FinCEN’s toolkit and verbiage, you can compliantly convey everything businesses need to know about the changes. This program will provide an update on beneficial ownership and help you develop an action plan for December.

WHO SHOULD ATTEND?

This timely webinar will benefit BSA officers and staff, compliance personnel, marketing professionals, trainers, deposit and loan operations staff, and management.

TAKE-AWAY TOOLKIT

BOI handbook
Action plan
Employee training log
Interactive quiz
PDF of slides and speaker’s contact info for follow-up questions
Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.