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Faculty Member Recommendation Form Requester : Faculty/Institute/Center : Email : Tel : LIB CPU REV 005 Type of Recommended Material(s) Book Journal ## A/V material (Tape/Cassette/CD-ROM/CD/DVD) Electronic
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UMAC LIB stands for Ultimate Beneficial Ownership and Control reporting system. It is a system used to report information on the ultimate beneficial owners and controllers of legal entities.
Legal entities such as corporations, LLCs, partnerships, etc. are required to file UMAC LIB.
UMAC LIB can be filled out online through the designated portal provided by the regulatory authorities. The form requires information on the ultimate beneficial owners and controllers of the legal entity.
The purpose of UMAC LIB is to increase transparency and prevent money laundering, terrorism financing, and other illegal activities by identifying the individuals who ultimately control and benefit from legal entities.
Information such as the name, address, date of birth, nationality, and percentage of ownership/control of the ultimate beneficial owners must be reported on UMAC LIB.
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