FinCEN will implement access to beneficial ownership information in phases:
- The first phase, anticipated to commence in the spring of 2024, will involve a pilot program for select Federal agency users.
- The second phase, expected in the summer of 2024, will expand access to Treasury offices and other Federal agencies involved in law enforcement and national security, with existing memoranda of understanding for access to Bank Secrecy Act information.
- The third phase, projected for the fall of 2024, will broaden access to additional Federal agencies engaged in law enforcement, national security, and intelligence activities, as well as to State, local, and Tribal law enforcement partners.
- The fourth phase, anticipated in the winter of 2024, will extend access to intermediary Federal agencies in response to foreign government requests.
- The fifth phase, expected in the spring of 2025, will grant access to financial institutions subject to customer due diligence requirements under applicable laws and their supervisory bodies.
At present, FinCEN is not accepting requests for access to beneficial ownership information.
However, it will offer further guidance on accessing this information in the future.