The Register of Beneficial Ownership Explained | Who needs to file with the RBO?

Company Secretarial Administrator, Niamh Ward explains the Register of Beneficial Owners (RBO), who needs to file, and when the filing is due. She clearly defines what a Beneficial Owner is, what to do if this is a corporate shareholder.

So what exactly is the Register of Beneficial Owners or RBO?
The Central Register of Beneficial Ownership of Companies and Industrial and Provident Societies (RBO) was designed to improve corporate trust and transparency in Ireland and the EU by making it clear who ultimately owns and controls Irish companies and industrial and provident societies (I&PS).

What is a Beneficial Owner?
A beneficial owner is any natural person(s) who ultimately owns or controls a legal entity, either through direct or indirect ownership of a percentage of shares or voting rights or ownership interest including through bearer shareholding or through control via other means.

When is the Filing Due?
The RBO filing must be completed 5 months after the date of incorporation of the company. It is not an annual filing and only needs to be completed once, providing the beneficial owners do not change. If there is a change to the Beneficial ownership within the company the Filing also needs to be updated.

What happens if I do not file or do not file on time?
It is the legal responsibility of a company/society’s officers (director(s) and company/society secretary) to obtain and confirm beneficial ownership information, to keep the company/society’s own beneficial ownership register current and accurate and to deliver the required beneficial ownership information to the Registrar of Beneficial Ownership within the prescribed time frames.

Follow the link to make your Beneficial Ownership Filing today!
https://www.companyformations.ie/prod...

Please let us know if you have any questions about your RBO filing and our team will be in touch to assist you!