By: Kyle Davis, CRCM, CAMS
FinCEN is extending exceptive relief from the Beneficial Ownership requirements on certain rollover products and services. This relief applies only to financial products and services that automatically rollover or renew (i.e., certificate of deposit or loan accounts) and were established before May 11, 2018. FinCEN's original 90-day exceptive relief was set to expire August 9, 2018. With this notice, FinCEN is extending the exception an additional 30 days to September 8, 2018.
See the official release here.
FinCEN is extending exceptive relief from the Beneficial Ownership requirements on certain rollover products and services. This relief applies only to financial products and services that automatically rollover or renew (i.e., certificate of deposit or loan accounts) and were established before May 11, 2018. FinCEN's original 90-day exceptive relief was set to expire August 9, 2018. With this notice, FinCEN is extending the exception an additional 30 days to September 8, 2018.
See the official release here.
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