Revenue Commissioners updates the Beneficial Ownership FAQsMarch 2022
As discussed in our February newsletter, beneficial ownership is proving to be a complicated topic. Many regulations have been issued, the most recent ones being in 2021 for the beneficial ownership of trusts. The Revenue Commissioners hold the Central Register of Beneficial Ownership of Trusts.
There is a positive obligation on designated persons to screen against the relevant register and report any discrepancy between the information provided to them (in the course of identifying a customer) and what they obtain from the register.
This month the Revenue Commissioners updated the register FAQs which you can access here: Central Register of Beneficial Ownership of Trusts
By: Eilish Larkin - Regulatory Consultant