What is a UBO?

An Ultimate Beneficial Owner (UBO) is the final person who owns or manages a company. This person does not have to be known directly as the owner, they may own the company through another company. A company cannot be the ultimate beneficial owner, it must be a person.

What information MUST be provided?

In submitting the application, it is important to identify all ubos with 25% or more ownership of the entity registering the account. Importantly, information must be provided even if the owner does not directly own the entity, but through another business. This could be 1 business, or multiple businesses which in aggregate own 25% or more of the entity registering the account.

UBO (Ultimate Beneficial Owner) examples

In all of the examples, the UBO is identified in blue. Information collection is required for all UBOs.


Example 1: Primary ownership, single individual


Example 2: Primary ownership, multiple individuals


Example 3: Secondary ownership, multiple individuals


Example 4: Secondary ownership, multiple individuals


Example 5: Secondary ownership, multiple individuals


Example 6: Split ownership

**Patty owns 25% of SS through her 10% ownership of PPTR (giving her 5% of SS) and her 100% ownership of PP (giving her 20% of SS). Patty and Mary are both UBOs.

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