Get the free Beneficial Ownership Determination Form

This document is used to obtain beneficial ownership information for businesses or organizations in relation to their accounts with BMO InvestorLine, ensuring compliance with securities law.

How to fill out beneficial ownership determination form

How to fill out Beneficial Ownership Determination Form

1. Begin by downloading the Beneficial Ownership Determination Form from the appropriate regulatory website.
2. Fill out the identifying information at the top, including the name of the entity and its registration number.
3. Provide the address of the entity in the designated field.
4. Identify all individuals who hold beneficial ownership interests in the entity; this usually includes anyone with 25% or more ownership.
5. For each identified individual, provide their full name, residential address, date of birth, and their percentage of ownership.
6. If applicable, include information on any entities that are beneficial owners, including their names and ownership percentages.
7. Ensure that all information is accurate and complete to avoid delays in processing.
8. Review the completed form for any errors or omissions.
9. Sign and date the form in the designated section, certifying that the information provided is true and complete.
10. Submit the form according to the instructions provided, whether electronically or physically.

Who needs Beneficial Ownership Determination Form?

1. Businesses and legal entities that are required to disclose their beneficial ownership information to comply with regulatory requirements.
2. Financial institutions and service providers that need to verify the beneficial owners of their clients.
3. Any entity that engages in transactions subject to Know Your Customer (KYC) regulations.

People Also Ask about

Who needs to declare beneficial ownership?

On 1 April 2023, the Companies and Intellectual Property Commission (CIPC) launched the Beneficial Ownership Register. This platform requires all corporate entities registered with the CIPC (with the exception of co-operatives) to submit their beneficial ownership information, effective from 24 May 2023.

What is a declaration of beneficial ownership form?

This document template is a form of letter from the beneficial owner(s) of shares confirming that he/she/they, is/are the ultimate owner(s) of shares and his/her/their holding %. This can be a useful confirmation and provide a level of comfort, particularly to the purchaser in an acquisition situation.

What is a beneficial ownership form?

The form includes identity information about your organization's beneficial owners that have a 25% ownership interest, identity information about one individual with managerial control and a signature of the person providing and certifying this information.

How do you verify beneficial ownership?

To identify Ultimate Beneficial Owners (UBOs), companies typically follow these steps: Verify the company's legitimacy. Using reliable documents and data sources, gather and verify key information about the company, such as its name, address, and list of top management. Assess the ownership chain.

For pdfFiller’s FAQs

What is Beneficial Ownership Determination Form?

The Beneficial Ownership Determination Form is a document used to identify the individuals who ultimately own or control a legal entity, ensuring transparency in ownership and preventing illicit activities.

Who is required to file Beneficial Ownership Determination Form?

Entities such as corporations, limited liability companies (LLCs), and partnerships that engage in certain financial activities or are required to comply with regulatory standards must file the Beneficial Ownership Determination Form.

How to fill out Beneficial Ownership Determination Form?

To fill out the Beneficial Ownership Determination Form, gather the necessary information about the ownership structure, including identifying the beneficial owners, their percentage of ownership, and their personal details, and then complete each section of the form carefully.

What is the purpose of Beneficial Ownership Determination Form?

The purpose of the Beneficial Ownership Determination Form is to promote transparency in corporate ownership and control, facilitate compliance with anti-money laundering laws, and support the prevention of financial crimes.

What information must be reported on Beneficial Ownership Determination Form?

The Beneficial Ownership Determination Form requires reporting information such as the names, addresses, dates of birth, and identification numbers of beneficial owners, as well as the nature and extent of their ownership interest in the entity.