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20549 OMB APPROVAL ANNUAL STATEMENT of CHANGES in BENEFICIAL OWNERSHIP of SECURITIES OMB Number 3235 0362 Expires Febrary 28, Es  Form

20549 OMB APPROVAL ANNUAL STATEMENT of CHANGES in BENEFICIAL OWNERSHIP of SECURITIES OMB Number 3235 0362 Expires Febrary 28, Es Form

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this presentation will cover the beneficial ownership information and reporting requirement this is a new requirement imposed by the federal government what is beneficial ownership information reporting the federal government had concern that businesses are being formed to help launder money or to help support terrorism so what this law basically does is impose a reporting requirement and about 35 million businesses in the country to report certain information about the company and certain owners of the company if you are considered a beneficial owner of a company and this includes anyone with a 25% or more ownership interest in the company or anyone who has substantial management control over a company and substantial management control could include being an officer a general counsel or anyone who can appoint members of the board of directors or who has substantial influence over decisions of the company so this is very broad also company applicants have to report information so this

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