Mark L. Brasee
402.978.5306mbrasee@fraserstryker.com email Mark
We are seeing an increase in official-looking letters and emails requesting information for something called a “Mandatory Beneficial Ownership Report,” often using a fake, government-looking “Form 5102” or another such form number (see example).
Be careful, these are scam solicitations designed to collect your business information or trick you into paying unnecessary fees.
What to Know:
- There is no such government form for beneficial ownership reporting.
- Official beneficial ownership filings (if required) are made directly with FinCEN, not through third-party solicitations.
- Government agencies do not send invoices demanding payment to file these reports.
Red Flags:
- Urgent deadlines or threats of penalties
- Requests for payment to a private company
- Fine print showing it’s a “solicitation” and not a government notice
If you receive one of these notices, do not respond or send payment. Instead, verify the requirement with your attorney or accountant.
When in doubt, check the official FinCEN website or consult a trusted advisor, such as the Business and Corporate attorneys at Fraser Stryker.
This article has been prepared for general information purposes and (1) does not create or constitute an attorney-client relationship, (2) is not intended as a solicitation, (3) is not intended to convey or constitute legal advice, and (4) is not a substitute for obtaining legal advice from a qualified attorney. Always seek professional counsel prior to taking action.