source:
  type: regulation
  id: bsa-31usc-5336
  authority: Bank Secrecy Act (31 U.S.C.) § 5336 — Beneficial ownership information reporting requirements
  description: 'Bank Secrecy Act (31 U.S.C.), §5336 Beneficial ownership information reporting requirements. Captured
    section-complete from Cornell LII (verbatim).

    '
obligations:
- id: bsa-31usc-5336-a
  canonical_id: bsa-31usc-5336-a
  section: 31 U.S.C. §5336(a)
  description: 'Beneficial ownership information reporting requirements — (a): (a) Definitions.— In this section:
    (1) Acceptable identification document.— The term “ acceptable identification document ” means, with respect
    to an individual— (A) a nonexpired passport issued by the United States ; (B) a nonexpired identification document
    issued by a State , local government, or …'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: '(a) Definitions.— In this section: (1) Acceptable identification document.— The term “ acceptable
      identification document ” means, with respect to an individual— (A) a nonexpired passport issued by the United
      States ; (B) a nonexpired identification document issued by a State , local government, or Indian Tribe to
      the individual acting for the purpose of identification of that individual; (C) a nonexpired driver’s license
      issued by a State ; or (D) if the individual does not have a document described in subparagraph (A), (B),
      or (C), a nonexpired passport issued by a foreign government. (2) Applicant.— The term “ applicant ” means
      any individual who— (A) files an application to form a corporation, limited liability company, or other similar
      entity under the laws of a State or Indian Tribe ; or (B) registers or files an application to register a
      corporation, limited liability company, or other similar entity formed under the laws of a foreign country
      to do business in the United States by filing a document with the secretary of state or similar office under
      the laws of a State or Indian Tribe . (3) Beneficial owner.— The term “ beneficial owner ”— (A) means, with
      respect to an entity, an individual who, directly or indirectly, through any contract, arrangement, understanding,
      relationship, or otherwise—'
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (a) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) exercises substantial control
    over the entity; or (ii) owns or controls not less than 25 percent of the ownership interests of the entity;
    and (B) does not include—'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) exercises substantial control over the entity; or (ii) owns or controls not less than 25
      percent of the ownership interests of the entity; and (B) does not include—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) a minor child, as defined in
    the State in which the entity is formed, if the information of the parent or guardian of the minor child is
    reported in accordance with this section; (ii) an individual acting as a nominee, intermediary, custodian, or
    agent on behalf of another individual; (iii) an i…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) a minor child, as defined in the State in which the entity is formed, if the information
      of the parent or guardian of the minor child is reported in accordance with this section; (ii) an individual
      acting as a nominee, intermediary, custodian, or agent on behalf of another individual; (iii) an individual
      acting solely as an employee of a corporation, limited liability company, or other similar entity and whose
      control over or economic benefits from such entity is derived solely from the employment status of the person
      ; (iv) an individual whose only interest in a corporation, limited liability company, or other similar entity
      is through a right of inheritance; or
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-v
  canonical_id: bsa-31usc-5336-v
  section: 31 U.S.C. §5336(v)
  description: 'Beneficial ownership information reporting requirements — (v): (v) a creditor of a corporation,
    limited liability company, or other similar entity, unless the creditor meets the requirements of subparagraph
    (A). (4) Director.— The term “ Director ” means the Director of FinCEN. (5) FinCEN.— The term “ FinCEN ” means
    the Financial Crimes Enforcement Network of t…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (v) a creditor of a corporation, limited liability company, or other similar entity, unless
      the creditor meets the requirements of subparagraph (A). (4) Director.— The term “ Director ” means the Director
      of FinCEN. (5) FinCEN.— The term “ FinCEN ” means the Financial Crimes Enforcement Network of the Department
      of the Treasury . (6) FinCEN identifier.— The term “ FinCEN identifier ” means the unique identifying number
      assigned by FinCEN to a person under this section. (7) Foreign person.— The term “ foreign person ” means
      a person who is not a United States person , as defined in section 7701(a) of the Internal Revenue Code of
      1986 . (8) Indian tribe.— The term “ Indian Tribe ” has the meaning given the term “ Indian tribe ” in section
      102 of the Federally Recognized Indian Tribe List Act of 1994 ( 25 U.S.C. 5130 ). (9) Lawfully admitted for
      permanent residence.— The term “ lawfully admitted for permanent residence ” has the meaning given the term
      in section 101(a) of the Immigration and Nationality Act ( 8 U.S.C. 1101(a) ). (10) Pooled investment vehicle.—
      The term “ pooled investment vehicle ” means— (A) any investment company, as defined in section 3(a) of the
      Investment Company Act of 1940 ( 15 U.S.C. 80a–3(a) ); or (B) any company that—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (v) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) would be an investment company
    under that section but for the exclusion provided from that definition by paragraph (1) or (7) of section 3(c)
    of that Act ( 15 U.S.C. 80a–3(c) ); and (ii) is identified by its legal name by the applicable investment adviser
    in its Form ADV (or successor form) file…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) would be an investment company under that section but for the exclusion provided from that
      definition by paragraph (1) or (7) of section 3(c) of that Act ( 15 U.S.C. 80a–3(c) ); and (ii) is identified
      by its legal name by the applicable investment adviser in its Form ADV (or successor form) filed with the
      Securities and Exchange Commission . (11) Reporting company.— The term “ reporting company ”— (A) means a
      corporation, limited liability company, or other similar entity that is—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) created by the filing of a document
    with a secretary of state or a similar office under the law of a State or Indian Tribe ; or (ii) formed under
    the law of a foreign country and registered to do business in the United States by the filing of a document
    with a secretary of state or a similar off…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) created by the filing of a document with a secretary of state or a similar office under
      the law of a State or Indian Tribe ; or (ii) formed under the law of a foreign country and registered to do
      business in the United States by the filing of a document with a secretary of state or a similar office under
      the laws of a State or Indian Tribe ; and (B) does not include—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) an issuer— (I) of a class of
    securities registered under section 12 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78 l); or (II) that
    is required to file supplementary and periodic information under section 15(d) of the Securities Exchange Act
    of 1934 ( 15 U.S.C. 78 o(d)); (ii) an entity— (…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) an issuer— (I) of a class of securities registered under section 12 of the Securities Exchange
      Act of 1934 ( 15 U.S.C. 78 l); or (II) that is required to file supplementary and periodic information under
      section 15(d) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78 o(d)); (ii) an entity— (I) established
      under the laws of the United States , an Indian Tribe , a State, or a political subdivision of a State, or
      under an interstate compact between 2 or more States; and (II) that exercises governmental authority on behalf
      of the United States or any such Indian Tribe , State, or political subdivision; (iii) a bank, as defined
      in— (I) section 3 of the Federal Deposit Insurance Act ( 12 U.S.C. 1813 ); (II) section 2(a) of the Investment
      Company Act of 1940 ( 15 U.S.C. 80a–2(a) ); or (III) section 202(a) of the Investment Advisers Act of 1940
      ( 15 U.S.C. 80b–2(a) ); (iv) a Federal credit union or a State credit union (as those terms are defined in
      section 101 of the Federal Credit Union Act ( 12 U.S.C. 1752 ));
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-v
  canonical_id: bsa-31usc-5336-v
  section: 31 U.S.C. §5336(v)
  description: 'Beneficial ownership information reporting requirements — (v): (v) a bank holding company (as defined
    in section 2 of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1841 )) or a savings and loan holding company
    (as defined in section 10(a) of the Home Owners’ Loan Act ( 12 U.S.C. 1467a(a) )); (vi) a money transmitting
    business registered with the Secretary of…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (v) a bank holding company (as defined in section 2 of the Bank Holding Company Act of 1956
      ( 12 U.S.C. 1841 )) or a savings and loan holding company (as defined in section 10(a) of the Home Owners’
      Loan Act ( 12 U.S.C. 1467a(a) )); (vi) a money transmitting business registered with the Secretary of the
      Treasury under section 5330; (vii) a broker or dealer (as those terms are defined in section 3 of the Securities
      Exchange Act of 1934 ( 15 U.S.C. 78c )) that is registered under section 15 of that Act ( 15 U.S.C. 78 o);
      (viii) an exchange or clearing agency (as those terms are defined in section 3 of the Securities Exchange
      Act of 1934 ( 15 U.S.C. 78c )) that is registered under section 6 or 17A of that Act ( 15 U.S.C. 78f , 78q–1);
      (ix) any other entity not described in clause (i), (vii), or (viii) that is registered with the Securities
      and Exchange Commission under the Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq.);
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (v) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-x
  canonical_id: bsa-31usc-5336-x
  section: 31 U.S.C. §5336(x)
  description: 'Beneficial ownership information reporting requirements — (x): (x) an entity that— (I) is an investment
    company (as defined in section 3 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–3 )) or an investment
    adviser (as defined in section 202 of the Investment Advisers Act of 1940 ( 15 U.S.C. 80b–2 )); and (II) is
    registered with the Securities and Exchang…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (x) an entity that— (I) is an investment company (as defined in section 3 of the Investment
      Company Act of 1940 ( 15 U.S.C. 80a–3 )) or an investment adviser (as defined in section 202 of the Investment
      Advisers Act of 1940 ( 15 U.S.C. 80b–2 )); and (II) is registered with the Securities and Exchange Commission
      under the Investment Company Act of 1940 ( 15 U.S.C. 80a–1 et seq.) or the Investment Advisers Act of 1940
      ( 15 U.S.C. 80b–1 et seq.); (xi) an investment adviser— (I) described in section 203(l) of the Investment
      Advisers Act of 1940 ( 15 U.S.C. 80b–3 (l)); and (II) that has filed Item 10, Schedule A, and Schedule B of
      Part 1A of Form ADV, or any successor thereto, with the Securities and Exchange Commission ; (xii) an insurance
      company (as defined in section 2 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–2 )); (xiii) an entity
      that— (I) is an insurance producer that is authorized by a State and subject to supervision by the insurance
      commissioner or a similar official or agency of a State ; and (II) has an operating presence at a physical
      office within the United States ; (xiv) (I) a registered entity (as defined in section 1a of the Commodity
      Exchange Act ( 7 U.S.C. 1a )); or (II) an entity that is— (aa) (AA) a futures commission merchant, introducing
      broker, swap dealer, major swap participant, commodity pool operator, or commodity trading advisor (as those
      terms are defined in section 1a of the Commodity Exchange Act ( 7 U.S.C. 1a )); or (BB) a retail foreign exchange
      dealer, as described in section 2(c)(2)(B) of that Act ( 7 U.S.C. 2(c)(2)(B) ); and (bb) registered with the
      Commodity Futures Trading Commission under the Commodity Exchange Act ( 7 U.S.C. 1 et seq.); (xv) a public
      accounting firm registered in accordance with section 102 of the Sarbanes-Oxley Act of 2002 ( 15 U.S.C. 7212
      ); (xvi) a public utility that provides telecommunications services, electrical power, natural gas, or water
      and sewer services within the United States ; (xvii) a financial market utility designated by the Financial
      Stability Oversight Council under section 804 of the Payment, Clearing, and Settlement Supervision Act of
      2010 ( 12 U.S.C. 5463 ); (xviii) any pooled investment vehicle that is operated or advised by a person described
      in clause (iii), (iv), (vii), (x), or (xi); (xix) any— (I) organization that is described in section 501(c)
      of the Internal Revenue Code of 1986 (determined without regard to section 508(a) of such Code) and exempt
      from tax under section 501(a) of such Code, except that in the case of any such organization that loses an
      exemption from tax, such organization shall be considered to be continued to be described in this subclause
      for the 180-day period beginning on the date of the loss of such tax-exempt status; (II) political organization
      (as defined in section 527(e)(1) of such Code) that is exempt from tax under section 527(a) of such Code;
      or (III) trust described in paragraph (1) or (2) of section 4947(a) of such Code; (xx) any corporation, limited
      liability company, or other similar entity that— (I) operates exclusively to provide financial assistance
      to, or hold governance rights over, any entity described in clause (xix); (II) is a United States person ;
      (III) is beneficially owned or controlled exclusively by 1 or more United States persons that are United States
      citizens or lawfully admitted for permanent residence ; and (IV) derives at least a majority of its funding
      or revenue from 1 or more United States persons that are United States citizens or lawfully admitted for permanent
      residence ; (xxi) any entity that— (I) employs more than 20 employees on a full-time basis in the United States
      ; (II) filed in the previous year Federal income tax returns in the United States demonstrating more than
      $5,000,000 in gross receipts or sales in the aggregate, including the receipts or sales of— (aa) other entities
      owned by the entity; and (bb) other entities through which the entity operates; and (III) has an operating
      presence at a physical office within the United States ; (xxii) any corporation, limited liability company,
      or other similar entity of which the ownership interests are owned or controlled, directly or indirectly,
      by 1 or more entities described in clause (i), (ii), (iii), (iv), (v), (vii), (viii), (ix), (x), (xi), (xii),
      (xiii), (xiv), (xv), (xvi), (xvii) [1] (xix), or (xxi); (xxiii) any corporation, limited liability company,
      or other similar entity— (I) in existence for over 1 year; (II) that is not engaged in active business; (III)
      that is not owned, directly or indirectly, by a foreign person ; (IV) that has not, in the preceding 12-month
      period, experienced a change in ownership or sent or received funds in an amount greater than $1,000 (including
      all funds sent to or received from any source through a financial account or accounts in which the entity,
      or an affiliate of the entity, maintains an interest); and (V) that does not otherwise hold any kind or type
      of assets, including an ownership interest in any corporation, limited liability company, or other similar
      entity; (xxiv) any entity or class of entities that the Secretary of the Treasury, with the written concurrence
      of the Attorney General and the Secretary of Homeland Security , has, by regulation, determined should be
      exempt from the requirements of subsection (b) because requiring beneficial ownership information from the
      entity or class of entities— (I) would not serve the public interest; and (II) would not be highly useful
      in national security, intelligence, and law enforcement agency efforts to detect, prevent, or prosecute money
      laundering, the financing of terrorism, proliferation finance, serious tax fraud, or other crimes. (12) State.—
      The term “ State ” means any State of the United States , the District of Columbia, the Commonwealth of Puerto
      Rico , the Commonwealth of the Northern Mariana Islands, American Samoa, Guam, the United States Virgin Islands,
      and any other commonwealth, territory, or possession of the United States. (13) Unique identifying number.—
      The term “ unique identifying number ” means, with respect to an individual or an entity with a sole member,
      the unique identifying number from an acceptable identification document . (14) United states person.— The
      term “ United States person ” has the meaning given the term in section 7701(a) of the Internal Revenue Code
      of 1986 .
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (x) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-b
  canonical_id: bsa-31usc-5336-b
  section: 31 U.S.C. §5336(b)
  description: 'Beneficial ownership information reporting requirements — (b): (b) Beneficial Ownership Information
    Reporting.— (1) Reporting.— (A) In general.— In accordance with regulations prescribed by the Secretary of the
    Treasury, each reporting company shall submit to FinCEN a report that contains the information described in
    paragraph (2). (B) Reporting of existing ent…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (b) Beneficial Ownership Information Reporting.— (1) Reporting.— (A) In general.— In accordance
      with regulations prescribed by the Secretary of the Treasury, each reporting company shall submit to FinCEN
      a report that contains the information described in paragraph (2). (B) Reporting of existing entities.— In
      accordance with regulations prescribed by the Secretary of the Treasury, any reporting company that has been
      formed or registered before the effective date of the regulations prescribed under this subsection shall,
      in a timely manner, and not later than 2 years after the effective date of the regulations prescribed under
      this subsection, submit to FinCEN a report that contains the information described in paragraph (2). (C) Reporting
      at time of formation or registration.— In accordance with regulations prescribed by the Secretary of the Treasury,
      any reporting company that has been formed or registered after the effective date of the regulations promulgated
      under this subsection shall, at the time of formation or registration, submit to FinCEN a report that contains
      the information described in paragraph (2). (D) Updated reporting for changes in beneficial ownership.— In
      accordance with regulations prescribed by the Secretary of the Treasury, a reporting company shall, in a timely
      manner, and not later than 1 year after the date on which there is a change with respect to any information
      described in paragraph (2), submit to FinCEN a report that updates the information relating to the change.
      (E) Treasury review of updated reporting for changes in beneficial ownership.— The Secretary of the Treasury,
      in consultation with the Attorney General and the Secretary of Homeland Security , shall conduct a review
      to evaluate—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (b) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) the necessity of a requirement
    for corporations, limited liability companies, or other similar entities to update the report on beneficial
    ownership information in paragraph (2), related to a change in ownership, within a shorter period of time than
    required under subparagraph (D), taking into a…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) the necessity of a requirement for corporations, limited liability companies, or other
      similar entities to update the report on beneficial ownership information in paragraph (2), related to a change
      in ownership, within a shorter period of time than required under subparagraph (D), taking into account the
      updating requirements under subparagraph (D) and the information contained in the reports; (ii) the benefit
      to law enforcement and national security officials that might be derived from, [2] and the burden that a requirement
      to update the list of beneficial owners within a shorter period of time after a change in the list of beneficial
      owners would impose on corporations, limited liability companies, or other similar entities; and (iii) not
      later than 2 years after the date of enactment of this section, incorporate 2 into the regulations, as appropriate,
      any changes necessary to implement the findings and determinations based on the review required under this
      subparagraph. (F) Regulation requirements.— In promulgating the regulations required under subparagraphs (A)
      through (D), the Secretary of the Treasury shall, to the greatest extent practicable—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) establish partnerships with State
    , local, and Tribal governmental agencies; (ii) collect information described in paragraph (2) through existing
    Federal, State , and local processes and procedures; (iii) minimize burdens on reporting companies associated
    with the collection of the information d…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) establish partnerships with State , local, and Tribal governmental agencies; (ii) collect
      information described in paragraph (2) through existing Federal, State , and local processes and procedures;
      (iii) minimize burdens on reporting companies associated with the collection of the information described
      in paragraph (2), in light of the private compliance costs placed on legitimate businesses, including by identifying
      any steps taken to mitigate the costs relating to compliance with the collection of information; and (iv)
      collect information described in paragraph (2) in a form and manner that ensures the information is highly
      useful in— (I) facilitating important national security, intelligence, and law enforcement activities; and
      (II) confirming beneficial ownership information provided to financial institutions to facilitate the compliance
      of the financial institutions with anti-money laundering, countering the financing of terrorism, and customer
      due diligence requirements under applicable law. (G) Regulatory simplification.— To simplify compliance with
      this section for reporting companies and financial institutions , the Secretary of the Treasury shall ensure
      that the regulations prescribed by the Secretary under this subsection are added to part 1010 of title 31,
      Code of Federal Regulations, or any successor thereto. (2) Required information.— (A) In general.— In accordance
      with regulations prescribed by the Secretary of the Treasury, a report delivered under paragraph (1) shall,
      except as provided in subparagraph (B), identify each beneficial owner of the applicable reporting company
      and each applicant with respect to that reporting company by—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) full legal name; (ii) date of
    birth; (iii) current, as of the date on which the report is delivered, residential or business street address;
    and (iv) (I) unique identifying number from an acceptable identification document ; or (II) FinCEN identifier
    in accordance with requirements in paragraph …'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) full legal name; (ii) date of birth; (iii) current, as of the date on which the report
      is delivered, residential or business street address; and (iv) (I) unique identifying number from an acceptable
      identification document ; or (II) FinCEN identifier in accordance with requirements in paragraph (3). (B)
      Reporting requirement for exempt entities having an ownership interest.— If an exempt entity described in
      subsection (a)(11)(B) has or will have a direct or indirect ownership interest in a reporting company , the
      reporting company or the applicant—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) shall, with respect to the exempt
    entity, only list the name of the exempt entity; and (ii) shall not be required to report the information with
    respect to the exempt entity otherwise required under subparagraph (A). (C) Reporting requirement for certain
    pooled investment vehicles.— Any corporat…'
  type: dont
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) shall, with respect to the exempt entity, only list the name of the exempt entity; and
      (ii) shall not be required to report the information with respect to the exempt entity otherwise required
      under subparagraph (A). (C) Reporting requirement for certain pooled investment vehicles.— Any corporation,
      limited liability company, or other similar entity that is an exempt entity described in subsection (a)(11)(B)(xviii)
      and is formed under the laws of a foreign country shall file with FinCEN a written certification that provides
      identification information of an individual that exercises substantial control over the pooled investment
      vehicle in the same manner as required under this subsection. (D) Reporting requirement for exempt subsidiaries.—
      In accordance with the regulations promulgated by the Secretary, any corporation, limited liability company,
      or other similar entity that is an exempt entity described in subsection (a)(11)(B)(xxii), shall, at the time
      such entity no longer meets the criteria described in subsection (a)(11)(B)(xxii), submit to FinCEN a report
      containing the information required under subparagraph (A). (E) Reporting requirement for exempt grandfathered
      entities.— In accordance with the regulations promulgated by the Secretary, any corporation, limited liability
      company, or other similar entity that is an exempt entity described in subsection (a)(11)(B)(xxiii), shall,
      at the time such entity no longer meets the criteria described in subsection (a)(11)(B)(xxiii), submit to
      FinCEN a report containing the information required under subparagraph (A). (3) FinCEN identifier.— (A) Issuance
      of fincen identifier.—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) In general.— Upon request by
    an individual who has provided FinCEN with the information described in paragraph (2)(A) pertaining to the individual,
    or by an entity that has reported its beneficial ownership information to FinCEN in accordance with this section,
    FinCEN shall issue a FinCEN identi…'
  type: dont
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) In general.— Upon request by an individual who has provided FinCEN with the information
      described in paragraph (2)(A) pertaining to the individual, or by an entity that has reported its beneficial
      ownership information to FinCEN in accordance with this section, FinCEN shall issue a FinCEN identifier to
      such individual or entity. (ii) Updating of information.— An individual or entity with a FinCEN identifier
      shall submit filings with FinCEN pursuant to paragraph (1) updating any information described in paragraph
      (2) in a timely manner consistent with paragraph (1)(D). (iii) Exclusive identifier.— FinCEN shall not issue
      more than 1 FinCEN identifier to the same individual or to the same entity (including any successor entity).
      (B) Use of fincen identifier for individuals.— Any person required to report the information described in
      paragraph (2) with respect to an individual may instead report the FinCEN identifier of the individual. (C)
      Use of fincen identifier for entities.— If an individual is or may be a beneficial owner of a reporting company
      by an interest held by the individual in an entity that, directly or indirectly, holds an interest in the
      reporting company , the reporting company may report the FinCEN identifier of the entity in lieu of providing
      the information required by paragraph (2)(A) with respect to the individual. (4) Regulations.— The Secretary
      of the Treasury shall— (A) by regulation prescribe procedures and standards governing any report under paragraph
      (2) and any FinCEN identifier under paragraph (3); and (B) in promulgating the regulations under subparagraph
      (A) to the extent practicable, consistent with the purposes of this section—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) minimize burdens on reporting
    companies associated with the collection of beneficial ownership information, including by eliminating duplicative
    requirements; and (ii) ensure the beneficial ownership information reported to FinCEN is accurate, complete,
    and highly useful. (5) Effective date.— Th…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) minimize burdens on reporting companies associated with the collection of beneficial ownership
      information, including by eliminating duplicative requirements; and (ii) ensure the beneficial ownership information
      reported to FinCEN is accurate, complete, and highly useful. (5) Effective date.— The requirements of this
      subsection shall take effect on the effective date of the regulations prescribed by the Secretary of the Treasury
      under this subsection, which shall be promulgated not later than 1 year after the date of enactment of this
      section. (6) Report.— Not later than 1 year after the effective date described in paragraph (5), and annually
      thereafter for 2 years, the Secretary of the Treasury shall submit to Congress a report describing the procedures
      and standards prescribed to carry out paragraph (2), which shall include an assessment of— (A) the effectiveness
      of those procedures and standards in minimizing reporting burdens (including through the elimination of duplicative
      requirements) and strengthening the accuracy of reports submitted under paragraph (2); and (B) any alternative
      procedures and standards prescribed to carry out paragraph (2).
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-c
  canonical_id: bsa-31usc-5336-c
  section: 31 U.S.C. §5336(c)
  description: 'Beneficial ownership information reporting requirements — (c): (c) Retention and Disclosure of Beneficial
    Ownership Information by FinCEN.— (1) Retention of information.— Beneficial ownership information required under
    subsection (b) relating to each reporting company shall be maintained by FinCEN for not fewer than 5 years after
    the date on which the reporting…'
  type: dont
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (c) Retention and Disclosure of Beneficial Ownership Information by FinCEN.— (1) Retention
      of information.— Beneficial ownership information required under subsection (b) relating to each reporting
      company shall be maintained by FinCEN for not fewer than 5 years after the date on which the reporting company
      terminates. (2) Disclosure.— (A) Prohibition.— Except as authorized by this subsection and the protocols promulgated
      under this subsection, beneficial ownership information reported under this section shall be confidential
      and may not be disclosed by—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (c) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) an officer or employee of the
    United States ; (ii) an officer or employee of any State , local, or Tribal agency; or (iii) an officer or employee
    of any financial institution or regulatory agency receiving information under this subsection. (B) Scope of
    disclosure by fincen.— FinCEN may disclose…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) an officer or employee of the United States ; (ii) an officer or employee of any State
      , local, or Tribal agency; or (iii) an officer or employee of any financial institution or regulatory agency
      receiving information under this subsection. (B) Scope of disclosure by fincen.— FinCEN may disclose beneficial
      ownership information reported pursuant to this section only upon receipt of—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) a request, through appropriate
    protocols— (I) from a Federal agency engaged in national security, intelligence, or law enforcement activity,
    for use in furtherance of such activity; or (II) from a State , local, or Tribal law enforcement agency, if
    a court of competent jurisdiction, including an…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) a request, through appropriate protocols— (I) from a Federal agency engaged in national
      security, intelligence, or law enforcement activity, for use in furtherance of such activity; or (II) from
      a State , local, or Tribal law enforcement agency, if a court of competent jurisdiction, including any officer
      of such a court, has authorized the law enforcement agency to seek the information in a criminal or civil
      investigation; (ii) a request from a Federal agency on behalf of a law enforcement agency, prosecutor, or
      judge of another country, including a foreign central authority or competent authority (or like designation),
      under an international treaty, agreement, convention, or official request made by law enforcement, judicial,
      or prosecutorial authorities in trusted foreign countries when no treaty, agreement, or convention is available—
      (I) issued in response to a request for assistance in an investigation or prosecution by such foreign country;
      and (II) that— (aa) requires compliance with the disclosure and use provisions of the treaty, agreement, or
      convention, publicly disclosing any beneficial ownership information received; or (bb) limits the use of the
      information for any purpose other than the authorized investigation or national security or intelligence activity;
      (iii) a request made by a financial institution subject to customer due diligence requirements, with the consent
      of the reporting company , to facilitate the compliance of the financial institution with customer due diligence
      requirements under applicable law; or (iv) a request made by a Federal functional regulator or other appropriate
      regulatory agency consistent with the requirements of subparagraph (C). (C) Form and manner of disclosure
      to financial institutions and regulatory agencies.— The Secretary of the Treasury shall, by regulation, prescribe
      the form and manner in which information shall be provided to a financial institution under subparagraph (B)(iii),
      which regulation shall include that the information shall also be available to a Federal functional regulator
      or other appropriate regulatory agency, as determined by the Secretary, if the agency—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) is authorized by law to assess,
    supervise, enforce, or otherwise determine the compliance of the financial institution with the requirements
    described in that subparagraph; (ii) uses the information solely for the purpose of conducting the assessment,
    supervision, or authorized investigation or …'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) is authorized by law to assess, supervise, enforce, or otherwise determine the compliance
      of the financial institution with the requirements described in that subparagraph; (ii) uses the information
      solely for the purpose of conducting the assessment, supervision, or authorized investigation or activity
      described in clause (i); and (iii) enters into an agreement with the Secretary providing for appropriate protocols
      governing the safekeeping of the information. (3) Appropriate protocols.— The Secretary of the Treasury shall
      establish by regulation protocols described in paragraph (2)(A) that— (A) protect the security and confidentiality
      of any beneficial ownership information provided directly by the Secretary; (B) require the head of any requesting
      agency, on a non-delegable basis, to approve the standards and procedures utilized by the requesting agency
      and certify to the Secretary semi-annually that such standards and procedures are in compliance with the requirements
      of this paragraph; (C) require the requesting agency to establish and maintain, to the satisfaction of the
      Secretary, a secure system in which such beneficial ownership information provided directly by the Secretary
      shall be stored; (D) require the requesting agency to furnish a report to the Secretary, at such time and
      containing such information as the Secretary may prescribe, that describes the procedures established and
      utilized by such agency to ensure the confidentiality of the beneficial ownership information provided directly
      by the Secretary; (E) require a written certification for each authorized investigation or other activity
      described in paragraph (2) from the head of an agency described in paragraph (2)(B)(i)(I), or their designees,
      that—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) states that applicable requirements
    have been met, in such form and manner as the Secretary may prescribe; and (ii) at a minimum, sets forth the
    specific reason or reasons why the beneficial ownership information is relevant to an authorized investigation
    or other activity described in paragraph…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) states that applicable requirements have been met, in such form and manner as the Secretary
      may prescribe; and (ii) at a minimum, sets forth the specific reason or reasons why the beneficial ownership
      information is relevant to an authorized investigation or other activity described in paragraph (2); (F) require
      the requesting agency to limit, to the greatest extent practicable, the scope of information sought, consistent
      with the purposes for seeking beneficial ownership information; (G) restrict, to the satisfaction of the Secretary,
      access to beneficial ownership information to whom disclosure may be made under the provisions of this section
      to only users at the requesting agency—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) who are directly engaged in the
    authorized investigation or activity described in paragraph (2); (ii) whose duties or responsibilities require
    such access; (iii) who— (I) have undergone appropriate training; or (II) use staff to access the database who
    have undergone appropriate training; (iv) w…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) who are directly engaged in the authorized investigation or activity described in paragraph
      (2); (ii) whose duties or responsibilities require such access; (iii) who— (I) have undergone appropriate
      training; or (II) use staff to access the database who have undergone appropriate training; (iv) who use appropriate
      identity verification mechanisms to obtain access to the information; and
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-v
  canonical_id: bsa-31usc-5336-v
  section: 31 U.S.C. §5336(v)
  description: 'Beneficial ownership information reporting requirements — (v): (v) who are authorized by agreement
    with the Secretary to access the information; (H) require the requesting agency to establish and maintain, to
    the satisfaction of the Secretary, a permanent system of standardized records with respect to an auditable trail
    of each request for beneficial ownership …'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (v) who are authorized by agreement with the Secretary to access the information; (H) require
      the requesting agency to establish and maintain, to the satisfaction of the Secretary, a permanent system
      of standardized records with respect to an auditable trail of each request for beneficial ownership information
      submitted to the Secretary by the agency, including the reason for the request, the name of the individual
      who made the request, the date of the request, any disclosure of beneficial ownership information made by
      or to the agency, and any other information the Secretary of the Treasury determines is appropriate; (I) require
      that the requesting agency receiving beneficial ownership information from the Secretary conduct an annual
      audit to verify that the beneficial ownership information received from the Secretary has been accessed and
      used appropriately, and in a manner consistent with this paragraph and provide the results of that audit to
      the Secretary upon request; (J) require the Secretary to conduct an annual audit of the adherence of the agencies
      to the protocols established under this paragraph to ensure that agencies are requesting and using beneficial
      ownership information appropriately; and (K) provide such other safeguards which the Secretary determines
      (and which the Secretary prescribes in regulations) to be necessary or appropriate to protect the confidentiality
      of the beneficial ownership information. (4) Violation of protocols.— Any employee or officer of a requesting
      agency under paragraph (2)(B) that violates the protocols described in paragraph (3), including unauthorized
      disclosure or use, shall be subject to criminal and civil penalties under subsection (h)(3)(B). (5) Department
      of the treasury access.— (A) In general.— Beneficial ownership information shall be accessible for inspection
      or disclosure to officers and employees of the Department of the Treasury whose official duties require such
      inspection or disclosure subject to procedures and safeguards prescribed by the Secretary of the Treasury.
      (B) Tax administration purposes.— Officers and employees of the Department of the Treasury may obtain access
      to beneficial ownership information for tax administration purposes in accordance with this subsection. (6)
      Rejection of request.— The Secretary of the Treasury— (A) shall reject a request not submitted in the form
      and manner prescribed by the Secretary under paragraph (2)(C); and (B) may decline to provide information
      requested under this subsection upon finding that—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (v) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) the requesting agency has failed
    to meet any other requirement of this subsection; (ii) the information is being requested for an unlawful purpose;
    or (iii) other good cause exists to deny the request. (7) Suspension.— The Secretary of the Treasury may suspend
    or debar a requesting agency from a…'
  type: dont
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) the requesting agency has failed to meet any other requirement of this subsection; (ii)
      the information is being requested for an unlawful purpose; or (iii) other good cause exists to deny the request.
      (7) Suspension.— The Secretary of the Treasury may suspend or debar a requesting agency from access for any
      of the grounds set forth in paragraph (6), including for repeated or serious violations of any requirement
      under paragraph (2). (8) Security protections.— The Secretary of the Treasury shall maintain information security
      protections, including encryption, for information reported to FinCEN under subsection (b) and ensure that
      the protections— (A) are consistent with standards and guidelines developed under subchapter II of chapter
      35 of title 44; and (B) incorporate Federal information system security controls for high-impact systems,
      excluding national security systems, consistent with applicable law to prevent the loss of confidentiality,
      integrity, or availability of information that may have a severe or catastrophic adverse effect. (9) Report
      by the secretary.— Not later than 1 year after the effective date of the regulations prescribed under this
      subsection, and annually thereafter for 5 years, the Secretary of the Treasury shall submit to the Committee
      on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House
      of Representatives a report, which— (A) may include a classified annex; and (B) shall, with respect to each
      request submitted under paragraph (2)(B)(i)(II) during the period covered by the report, and consistent with
      protocols established by the Secretary that are necessary to protect law enforcement sensitive, tax-related,
      or classified information, include—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) the date on which the request
    was submitted; (ii) the source of the request; (iii) whether the request was accepted or rejected or is pending;
    and (iv) a general description of the basis for rejecting the such request, if applicable. (10) Audit by the
    comptroller general.— Not later than 1 year …'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) the date on which the request was submitted; (ii) the source of the request; (iii) whether
      the request was accepted or rejected or is pending; and (iv) a general description of the basis for rejecting
      the such request, if applicable. (10) Audit by the comptroller general.— Not later than 1 year after the effective
      date of the regulations prescribed under this subsection, and annually thereafter for 6 years, the Comptroller
      General of the United States shall— (A) audit the procedures and safeguards established by the Secretary of
      the Treasury under those regulations, including duties for verification of requesting agencies systems and
      adherence to the protocols established under this subsection, to determine whether such safeguards and procedures
      meet the requirements of this subsection and that the Department of the Treasury is using beneficial ownership
      information appropriately in a manner consistent with this subsection; and (B) submit to the Secretary of
      the Treasury, the Committee on Banking, Housing, and Urban Affairs of the Senate , and the Committee on Financial
      Services of the House of Representatives a report that contains the findings and determinations with respect
      to any audit conducted under this paragraph. (11) Department of the treasury testimony.— (A) In general.—
      Not later than March 31 of each year for 5 years beginning in 2022, the Director shall be made available to
      testify before the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial
      Services of the House of Representatives , or an appropriate subcommittee thereof, regarding FinCEN issues,
      including, specifically, issues relating to—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) anticipated plans, goals, and
    resources necessary for operations of FinCEN in implementing the requirements of the Anti-Money Laundering Act
    of 2020 and the amendments made by that Act; (ii) the adequacy of appropriations for FinCEN in the current and
    the previous fiscal year to— (I) ensure that…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) anticipated plans, goals, and resources necessary for operations of FinCEN in implementing
      the requirements of the Anti-Money Laundering Act of 2020 and the amendments made by that Act; (ii) the adequacy
      of appropriations for FinCEN in the current and the previous fiscal year to— (I) ensure that the requirements
      and obligations imposed upon FinCEN by the Anti-Money Laundering Act of 2020 and the amendments made by that
      Act are completed as efficiently, effectively, and expeditiously as possible; and (II) provide for robust
      and effective implementation and enforcement of the provisions of the Anti-Money Laundering Act of 2020 and
      the amendments made by that Act; (iii) strengthen 2 FinCEN management efforts, as necessary and as identified
      by the Director, to meet the requirements of the Anti-Money Laundering Act of 2020 and the amendments made
      by that Act; (iv) provide 2 for the necessary public outreach to ensure the broad dissemination of information
      regarding any new program requirements provided for in the Anti-Money Laundering Act of 2020 and the amendments
      made by that Act, including— (I) educating the business community on the goals and operations of the new beneficial
      ownership database; and (II) disseminating to the governments of countries that are allies or partners of
      the United States information on best practices developed by FinCEN related to beneficial ownership information
      retention and use;
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-v
  canonical_id: bsa-31usc-5336-v
  section: 31 U.S.C. §5336(v)
  description: 'Beneficial ownership information reporting requirements — (v): (v) any policy recommendations that
    could facilitate and improve communication and coordination between the private sector, FinCEN , and the Federal,
    State, and local agencies and entities involved in implementing innovative approaches to meet their obligations
    under the Anti-Money Laundering Act of…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (v) any policy recommendations that could facilitate and improve communication and coordination
      between the private sector, FinCEN , and the Federal, State, and local agencies and entities involved in implementing
      innovative approaches to meet their obligations under the Anti-Money Laundering Act of 2020 and the amendments
      made by that Act, the Bank Secrecy Act (as defined in section 6003 of the Anti-Money Laundering Act of 2020),
      and other anti-money laundering compliance laws; and (vi) any other matter that the Director determines is
      appropriate. (B) Testimony classification.— The testimony required under subparagraph (A)—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (v) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) shall be submitted in unclassified
    form; and (ii) may include a classified portion.'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) shall be submitted in unclassified form; and (ii) may include a classified portion.
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-d
  canonical_id: bsa-31usc-5336-d
  section: 31 U.S.C. §5336(d)
  description: 'Beneficial ownership information reporting requirements — (d): (d) Agency Coordination.— (1) In
    general.— The Secretary of the Treasury shall, to the greatest extent practicable, update the information described
    in subsection (b) by working collaboratively with other relevant Federal, State , and Tribal agencies. (2) Information
    from relevant federal, state, an…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (d) Agency Coordination.— (1) In general.— The Secretary of the Treasury shall, to the greatest
      extent practicable, update the information described in subsection (b) by working collaboratively with other
      relevant Federal, State , and Tribal agencies. (2) Information from relevant federal, state, and tribal agencies.—
      Relevant Federal, State , and Tribal agencies, as determined by the Secretary of the Treasury, shall, to the
      extent practicable, and consistent with applicable legal protections, cooperate with and provide information
      requested by FinCEN for purposes of maintaining an accurate, complete, and highly useful database for beneficial
      ownership information. (3) Regulations.— The Secretary of the Treasury, in consultation with the heads of
      other relevant Federal agencies, may promulgate regulations as necessary to carry out this subsection.
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (d) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-e
  canonical_id: bsa-31usc-5336-e
  section: 31 U.S.C. §5336(e)
  description: 'Beneficial ownership information reporting requirements — (e): (e) Notification of Federal Obligations.—
    (1) Federal.— The Secretary of the Treasury shall take reasonable steps to provide notice to persons of their
    obligations to report beneficial ownership information under this section, including by causing appropriate
    informational materials describing such …'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: '(e) Notification of Federal Obligations.— (1) Federal.— The Secretary of the Treasury shall
      take reasonable steps to provide notice to persons of their obligations to report beneficial ownership information
      under this section, including by causing appropriate informational materials describing such obligations to
      be included in 1 or more forms or other informational materials regularly distributed by the Internal Revenue
      Service and FinCEN. (2) States and indian tribes.— (A) In general.— As a condition of the funds made available
      under this section, each State and Indian Tribe shall, not later than 2 years after the effective date of
      the regulations promulgated under subsection (b)(4), take the following actions:'
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (e) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) The secretary of a State or a
    similar office in each State or Indian Tribe responsible for the formation or registration of entities created
    by the filing of a public document with the office under the law of the State or Indian Tribe shall periodically,
    including at the time of any initial form…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) The secretary of a State or a similar office in each State or Indian Tribe responsible
      for the formation or registration of entities created by the filing of a public document with the office under
      the law of the State or Indian Tribe shall periodically, including at the time of any initial formation or
      registration of an entity, assessment of an annual fee, or renewal of any license to do business in the United
      States and in connection with State or Indian Tribe corporate tax assessments or renewals— (I) notify filers
      of their requirements as reporting companies under this section, including the requirements to file and update
      reports under paragraphs (1) and (2) of subsection (b); and (II) provide the filers with a copy of the reporting
      company form created by the Secretary of the Treasury under this subsection or an internet link to that form.
      (ii) The secretary of a State or a similar office in each State or Indian Tribe responsible for the formation
      or registration of entities created by the filing of a public document with the office under the law of the
      State or Indian Tribes shall update the websites, forms relating to incorporation, and physical premises of
      the office to notify filers of their requirements as reporting companies under this section, including providing
      an internet link to the reporting company form created by the Secretary of the Treasury under this section.
      (B) Notification from the department of the treasury.— A notification under clause (i) or (ii) of subparagraph
      (A) shall explicitly state that the notification is on behalf of the Department of the Treasury for the purpose
      of preventing money laundering, the financing of terrorism, proliferation financing, serious tax fraud, and
      other financial crime by requiring nonpublic registration of business entities formed or registered to do
      business in the United States.
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-f
  canonical_id: bsa-31usc-5336-f
  section: 31 U.S.C. §5336(f)
  description: 'Beneficial ownership information reporting requirements — (f): (f) No Bearer Share Corporations
    or Limited Liability Companies.— A corporation, limited liability company, or other similar entity formed under
    the laws of a State or Indian Tribe may not issue a certificate in bearer form evidencing either a whole or
    fractional interest in the entity.'
  type: dont
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (f) No Bearer Share Corporations or Limited Liability Companies.— A corporation, limited liability
      company, or other similar entity formed under the laws of a State or Indian Tribe may not issue a certificate
      in bearer form evidencing either a whole or fractional interest in the entity.
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (f) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-g
  canonical_id: bsa-31usc-5336-g
  section: 31 U.S.C. §5336(g)
  description: 'Beneficial ownership information reporting requirements — (g): (g) Regulations.— In promulgating
    regulations carrying out this section, the Director shall reach out to members of the small business community
    and other appropriate parties to ensure efficiency and effectiveness of the process for the entities subject
    to the requirements of this section.'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (g) Regulations.— In promulgating regulations carrying out this section, the Director shall
      reach out to members of the small business community and other appropriate parties to ensure efficiency and
      effectiveness of the process for the entities subject to the requirements of this section.
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (g) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-h
  canonical_id: bsa-31usc-5336-h
  section: 31 U.S.C. §5336(h)
  description: 'Beneficial ownership information reporting requirements — (h): (h) Penalties.— (1) Reporting violations.—
    It shall be unlawful for any person to— (A) willfully provide, or attempt to provide, false or fraudulent beneficial
    ownership information, including a false or fraudulent identifying photograph or document, to FinCEN in accordance
    with subsection (b); or (…'
  type: dont
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (h) Penalties.— (1) Reporting violations.— It shall be unlawful for any person to— (A) willfully
      provide, or attempt to provide, false or fraudulent beneficial ownership information, including a false or
      fraudulent identifying photograph or document, to FinCEN in accordance with subsection (b); or (B) willfully
      fail to report complete or updated beneficial ownership information to FinCEN in accordance with subsection
      (b). (2) Unauthorized disclosure or use.— Except as authorized by this section, it shall be unlawful for any
      person to knowingly disclose or knowingly use the beneficial ownership information obtained by the person
      through— (A) a report submitted to FinCEN under subsection (b); or (B) a disclosure made by FinCEN under subsection
      (c). (3) Criminal and civil penalties.— (A) Reporting violations.— Any person that violates subparagraph (A)
      or (B) of paragraph (1)—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (h) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) shall be liable to the United
    States for a civil penalty of not more than $500 for each day that the violation continues or has not been remedied;
    and (ii) may be fined not more than $10,000, imprisoned for not more than 2 years, or both. (B) Unauthorized
    disclosure or use violations.— Any perso…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) shall be liable to the United States for a civil penalty of not more than $500 for each
      day that the violation continues or has not been remedied; and (ii) may be fined not more than $10,000, imprisoned
      for not more than 2 years, or both. (B) Unauthorized disclosure or use violations.— Any person that violates
      paragraph (2)—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) shall be liable to the United
    States for a civil penalty of not more than $500 for each day that the violation continues or has not been remedied;
    and (ii) (I) shall be fined not more than $250,000, or imprisoned for not more than 5 years, or both; or (II)
    while violating another law of the Unit…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) shall be liable to the United States for a civil penalty of not more than $500 for each
      day that the violation continues or has not been remedied; and (ii) (I) shall be fined not more than $250,000,
      or imprisoned for not more than 5 years, or both; or (II) while violating another law of the United States
      or as part of a pattern of any illegal activity involving more than $100,000 in a 12-month period, shall be
      fined not more than $500,000, imprisoned for not more than 10 years, or both. (C) Safe harbor.—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) Safe harbor.— (I) In general.—
    Except as provided in subclause (II), a person shall not be subject to civil or criminal penalty under subparagraph
    (A) if the person — (aa) has reason to believe that any report submitted by the person in accordance with subsection
    (b) contains inaccurate informat…'
  type: dont
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) Safe harbor.— (I) In general.— Except as provided in subclause (II), a person shall not
      be subject to civil or criminal penalty under subparagraph (A) if the person — (aa) has reason to believe
      that any report submitted by the person in accordance with subsection (b) contains inaccurate information;
      and (bb) in accordance with regulations issued by the Secretary, voluntarily and promptly, and in no case
      later than 90 days after the date on which the person submitted the report, submits a report containing corrected
      information. (II) Exceptions.— A person shall not be exempt from penalty under clause (i) if, at the time
      the person submits the report required by subsection (b), the person — (aa) acts for the purpose of evading
      the reporting requirements under subsection (b); and (bb) has actual knowledge that any information contained
      in the report is inaccurate. (ii) Assistance.— FinCEN shall provide assistance to any person seeking to submit
      a corrected report in accordance with clause (i)(I). (4) User complaint process.— (A) In general.— The Inspector
      General of the Department of the Treasury , in coordination with the Secretary of the Treasury, shall provide
      public contact information to receive external comments or complaints regarding the beneficial ownership information
      notification and collection process or regarding the accuracy, completeness, or timeliness of such information.
      (B) Report.— The Inspector General of the Department of the Treasury shall submit to Congress a periodic report
      that—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) summarizes external comments
    or complaints and related investigations conducted by the Inspector General related to the collection of beneficial
    ownership information; and (ii) includes recommendations, in coordination with FinCEN , to improve the form
    and manner of the notification, collection …'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) summarizes external comments or complaints and related investigations conducted by the
      Inspector General related to the collection of beneficial ownership information; and (ii) includes recommendations,
      in coordination with FinCEN , to improve the form and manner of the notification, collection and updating
      processes of the beneficial ownership information reporting requirements to ensure the beneficial ownership
      information reported to FinCEN is accurate, complete, and highly useful. (5) Treasury office of inspector
      general investigation in the event of a cybersecurity breach.— (A) In general.— In the event of a cybersecurity
      breach that results in substantial unauthorized access and disclosure of sensitive beneficial ownership information,
      the Inspector General of the Department of the Treasury shall conduct an investigation into FinCEN cybersecurity
      practices that, to the extent possible, determines any vulnerabilities within FinCEN information security
      and confidentiality protocols and provides recommendations for fixing those deficiencies. (B) Report.— The
      Inspector General of the Department of the Treasury shall submit to the Secretary of the Treasury a report
      on each investigation conducted under subparagraph (A). (C) Actions of the secretary.— Upon receiving a report
      submitted under subparagraph (B), the Secretary of the Treasury shall—
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) determine whether the Director
    had any responsibility for the cybersecurity breach or whether policies, practices, or procedures implemented
    at the direction of the Director led to the cybersecurity breach; and (ii) submit to Congress a written report
    outlining the findings of the Secretary, inc…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) determine whether the Director had any responsibility for the cybersecurity breach or whether
      policies, practices, or procedures implemented at the direction of the Director led to the cybersecurity breach;
      and (ii) submit to Congress a written report outlining the findings of the Secretary, including a determination
      by the Secretary on whether to retain or dismiss the individual serving as the Director. (6) Definition.—
      In this subsection, the term “ willfully ” means the voluntary, intentional violation of a known legal duty.
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-i
  canonical_id: bsa-31usc-5336-i
  section: 31 U.S.C. §5336(i)
  description: 'Beneficial ownership information reporting requirements — (i): (i) Continuous Review of Exempt Entities.—
    (1) In general.— On and after the effective date of the regulations promulgated under subsection (b)(4), if
    the Secretary of the Treasury makes a determination, which may be based on information contained in the report
    required under section 6502(c) of the …'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (i) Continuous Review of Exempt Entities.— (1) In general.— On and after the effective date
      of the regulations promulgated under subsection (b)(4), if the Secretary of the Treasury makes a determination,
      which may be based on information contained in the report required under section 6502(c) of the Anti-Money
      Laundering Act of 2020 or on any other information available to the Secretary, that an entity or class of
      entities described in subsection (a)(11)(B) has been involved in significant abuse relating to money laundering,
      the financing of terrorism, proliferation finance, serious tax fraud, or any other financial crime, not later
      than 90 days after the date on which the Secretary makes the determination, the Secretary shall submit to
      the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services
      of the House of Representatives a report that explains the reasons for the determination and any administrative
      or legislative recommendations to prevent such abuse. (2) Classified annex.— The report required by paragraph
      (1)— (A) shall be submitted in unclassified form; and (B) may include a classified annex.
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (i) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: bsa-31usc-5336-j
  canonical_id: bsa-31usc-5336-j
  section: 31 U.S.C. §5336(j)
  description: 'Beneficial ownership information reporting requirements — (j): (j) Authorization of Appropriations.—
    There are authorized to be appropriated to FinCEN for each of the 3 fiscal years beginning on the effective
    date of the regulations promulgated under subsection (b)(4), such sums as may be necessary to carry out this
    section, including allocating funds to the St…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: Bank Secrecy Act (31 U.S.C.) § 5336
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/31/5336
    snapshot_id: 8f717a62e7a41262
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:e727b4a50a4414cbcb3fe9f4eafba292d2cee97b811b6b3f0ff010ed8e4a5335
    paragraph_quote: (j) Authorization of Appropriations.— There are authorized to be appropriated to FinCEN for
      each of the 3 fiscal years beginning on the effective date of the regulations promulgated under subsection
      (b)(4), such sums as may be necessary to carry out this section, including allocating funds to the States
      to pay reasonable costs relating to compliance with the requirements of such section. (Added and amended Pub.
      L. 116–283, div. F, title LXIV, § 6403(a) , title LXV, § 6509(b), Jan. 1, 2021 , 134 Stat. 4605 , 4633.) [1]
      So in original. Probably should be followed by a comma. [2] So in original.
    drafter_attestation: Verbatim slice of 31 U.S.C. §5336 subsection (j) from Cornell LII snapshot 8f717a62e7a41262;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
