Glossary • Updated 2026
Beneficial Owner (FinCEN)
Anyone with ≥25% ownership or substantial control: the persons BOI reporting names.
In detail
Includes officers and key decision-makers, not just equity holders.
Since August 2026 only non-US beneficial owners of foreign reporting companies are reported to FinCEN.
Banks still collect beneficial-owner information at account opening, separately from FinCEN.
Where it matters
More definitions
Sources
- Cal. Rev. & Tax Code; 8 Del. C.; Wyo. Stat. Title 17; FTB/SOS glossaries