when it comes to trusts beneficial ownership information includes information on the settlor trustees protector beneficiaries and any other person exercising ultimate control over a trust if a trust owns 25 or more of a corporation or legal entity the trustee s of that trust are considered beneficial owners of the corporation 8
the bottom linebeneficial ownership allows someone to benefit from assets that are actually held in the name of a company or other legal entity this is most common for securities which are typically registered with a broker where the beneficial owners are their customers in banking the beneficial owners of a legal entity are those individuals who have a large equity interest or control over the entity s financials banks are required to collect this information in order to prevent money laundering 