how do you determine beneficial ownership 
in banking beneficial ownership is determined based on ownership and control of the legal entity in question ownership means any person with more than 25 equity in the legal entity and control means any individual with significant decision making responsibility such as a ceo or cfo 10who is exempt from the beneficial ownership rule certain types of entities do not need to provide identifying information under the beneficial ownership rule these include sole proprietorships certain trusts non account ownership and in the case of credit cards authorized users who are not the actual owners of the cards 9who is the beneficial owner of a charity or nonprofit for charities and nonprofits the beneficial ownership rule does not apply to those with over 25 of the company because these entities do not typically have percentage based controlling interests however they must still disclose the information of any executive or officer who has significant control over the company 11who is the beneficial owner of an irrevocable trust 