First off, don't worry. It doesn't affect anyone with an Aspira Plans account. Let's go over why.
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) began requiring beneficial ownership information reports to be filed by millions of domestic and foreign companies. The bipartisan Corporate Transparency Act, enacted in 2021 to curb illicit finance, requires many companies doing business in the United States to report information about the individuals who ultimately own or control them.
In a December 2023 report published by FINCEN, it lists the entities that are exempt.
In this report, entities that are not corporations, are not LLCs, and were not created by the filing of a document with a secretary of state or any similar office under the law of a State or Indian tribe are exempt.