Do I need to file an 'Update Report' if the provided ID proof of the company applicant or beneficial owner expires?
274 views |Last modified 4/16/2024 12:43:26 AM EST | Added by TaxBandits Team

No, you don't need to file an updated report if the ID proof of the company applicant or beneficial owner expires. However, if a beneficial owner obtains a new driver’s license or another identifying document with updated information such as name, address, or identifying number, then you would need to file an updated beneficial ownership information report with FinCEN. This updated report should include an image of the new identifying document.