IEIM402184 - Reportable Information: Role(s) of Controlling Persons

For reporting in respect of the calendar year 2026 onwards, Financial Institutions that are required to report Controlling Persons of an entity account holder are also required to report the role(s) of such Controlling Persons. 

As a transitional measure, for reporting in respect of the calendar years 2026 and 2027 only, the role(s) of Controlling Persons are only required to be reported if the information is available in the Financial Institution’s electronically searchable data. 

For reporting in respect of calendar year 2028 and subsequent years, it is mandatory to report the role(s) of all Controlling Persons. 

Where the entity account holder is a trust or other legal arrangement and a Controlling Person has more than one role, for example being both settlor and beneficiary of a trust, then all roles should be reported. 

Where the entity account holder is not a trust or other legal arrangement and a Controlling Person has more than one role, for example a corporate entity with a Controlling Person being both the controlling shareholder and senior managing official, then the role to be reported is the highest in the following hierarchy, provided that the identification of the role is required by AML/KYC procedures:

  • ownership control
  • control through other means
  • senior managing official