The Central Register of Beneficial Owners (CRBR) covers data reported by entities obliged to do so under the AML Act. Entries in the CRBR for certain entities are mandatory and failure to comply with the obligation is subject to a fine of up to PLN 1 million.
The beneficial owner must be reported to the register within 14 days of the entry of the entity in question in the National Court Register (KRS), and reports to the CRBR are audited by the tax authorities. Moreover, the data in the CRBR must be looked at by so-called obliged institutions. These institutions include, among others, banks, insurers, leasing companies, as well as, for example, tax advisors and accounting offices. These entities are obliged to thoroughly verify the accuracy of the entries in the CRBR.
To do so, the General Inspector of Financial Information recommends checking other publicly available data sources besides the CRBR, including the KRS, company agreements or share transfer agreements – highlights Artur Rogozik, partner in TGC Corporate Lawyers, in a statement to Puls Biznesu.
The article is available only in Polish.
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