The Indiana Controlling Persons Questionnaire is a comprehensive assessment tool utilized to identify individuals who hold significant control over businesses or organizations. This questionnaire plays a crucial role in ensuring compliance with regulatory requirements and financial transparency. It aims to gather detailed information about key individuals involved in a company's decision-making processes, ownership structure, and management. This questionnaire enables the Indiana Secretary of State's Office to collect essential data related to controlling persons. Controlling persons can refer to owners, officers, directors, or any individual who holds substantial control over the organization. The information obtained through this process helps in preventing fraudulent activities, money laundering, and other illegal practices. The Indiana Controlling Persons Questionnaire includes a series of carefully crafted questions designed to collect relevant details about the individuals in question. It often requires responses related to personal and professional information, such as full legal name, address, contact details, date of birth, social security number, and employment history. Additionally, the questionnaire may inquire about the nature of relationship with the company, percentage of ownership or control held, and any criminal or regulatory violations. It is essential to note that there could be variations or specific types of Indiana Controlling Persons Questionnaires based on the nature of businesses or legal entities. For instance, there might be specific questionnaires tailored for corporations, limited liability companies (LCS), partnerships, or other forms of organizations. Such variations focus on capturing information pertinent to the respective entity's structure, governance, and ownership arrangements. Overall, the Indiana Controlling Persons Questionnaire serves as a vital tool to ensure transparency and accountability within businesses and organizations operating in the state. By acquiring in-depth knowledge about individuals with controlling powers, the government can foster a secure and trustworthy business environment, protecting the interests of all stakeholders involved.
Indiana Controlling Persons Questionnaire
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How to fill out Indiana Controlling Persons Questionnaire?
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Under the CRS, financial institutions are required to identify customers who appear to be tax resident outside of the country/jurisdiction where they hold their accounts and products, and report certain information to our local tax authority.
?Controlling Person(s)? are the natural person(s) who exercise control over an entity. Where that entity is treated as a Passive Non-Financial Entity (?Passive NFE?) then a Financial Institution is required to determine whether or not these Controlling Persons are Reportable Persons.
Controlling person Type. (C01 - CP of legal person-ownership, C02 - CP of legal person-other means, C03 - CP of legal person-senior managing. official, C04 - CP of legal arrangement-trust-settlor, C05 - CP of legal arrangement-trust-trustee, C06 - CP of legal arrange-
The form should be completed by the Account Holder the person who holds the Financial Account, regardless of whether such person is a flow-through Entity.
Controlling Persons of a trust, means the settlor(s), the trustee(s), the protector(s) (if any), the beneficiary(ies) or class(es) of beneficiaries, and any other natural person(s) exercising ultimate effective control over the trust (including through a chain of control or ownership).
The term 'Controlling Person' refers to a natural person who exercises control over an Entity. In the case of a Trust, this term refers to the Settlor, the Trustees and the Beneficiaries. For Companies, this would be any shareholder with a stake of 25% or more in the company.
The Common Reporting Standard (CRS), developed in response to the G20 request and approved by the OECD Council on 15 July 2014, calls on jurisdictions to obtain information from their financial institutions and automatically exchange that information with other jurisdictions on an annual basis.
You should fill in the parts of the form that ask for your organisation's name, address etc. Put the same name and address as the bank uses to send you bank statements. You should sign and date the declaration at the end of the form. You can leave all the other parts of the form blank.