NPMA Comments on Beneficial Owner Rule on Behalf of the Industry
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NPMA submitted comments on the beneficial owner proposed rule, which was put out for comment by the Financial Crimes Enforcement Network (FinCEN) under the direction of the Department of the Treasury. This rule is based on the ILLICIT CASH Act that NPMA members lobbied against during the 2020 Legislative Day. Unfortunately, this problematic bill became law as part of the National Defense Authorization Act (NDAA) and is now working its way through the regulatory process. This is the first of three rules that will be promulgated on this topic, and NPMA made sure to comment, sharing how the lack of clarity will certainly impact businesses forced to comply with this rule. You can view the comments here. For any questions on this rule and how it might impact your business, contact Ashley Amidon at aamidon@pestworld.org.
