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Glossary

Beneficial ownership

The distinction between beneficial and legal ownership in KYB.

The beneficial owner is the natural person who ultimately owns or controls a business, which is frequently not the person named on the filing. Establishing it means tracing through holding companies, trusts and nominee arrangements to a human being.

See also

UBO

The natural person at the end of an ownership chain.

BOI

Corporate Transparency Act reporting requirements.

CTA

Beneficial ownership reporting to FinCEN.

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