S.4419

Federal SB4419 amends title 31, United States Code, to require only foreign entities to report beneficial ownership information.

Federal SB4419 amends title 31, United States Code, to modify beneficial ownership information reporting requirements. It specifies that only foreign entities must report such information, exempting United States persons from these obligations. The Financial Crimes Enforcement Network of the Department of the Treasury is mandated to delete all beneficial ownership information of any United States person within 90 days of the Act's enactment. The bill also allows the retention of beneficial ownership information for non-United States persons.