Beginning early 2018, compliance of the 2016 U.S. government’s regulation that requires we obtain, verify and record information about the beneficial owners of legal entity clients will be mandatory for all financial institutions. In order to comply with this regulation, we must identify the beneficial owner(s) who own or control the entity doing business with DFCU Financial.
This identifying information includes name, address, date of birth, identification number, and other information to help identify these owners or controlling parties. This information must be obtained regardless if the person identified is a client of DFCU Financial.
We understand that the requested information is sensitive in nature and offer the peace of mind that all information collected by DFCU Financial is securely stored and handled in accordance with our high-level privacy policies.
For more information on Beneficial Ownership, please contact us at 888.336.2700.
Important Update Effective 01/01/2024
Beginning January 1, 2024, many newly created businesses must securely register their beneficial ownership information directly with the Federal Government’s Financial Crimes Enforcement Network (FinCEN) within 90 days of the company’s formation.
In addition, existing covered businesses must securely register their beneficial ownership with FinCEN by January 1, 2025
For more information and to determine whether your business must comply with this regulation, visit https://www.fincen.gov/boi.