Article 12 Identification and verification of beneficiaries of trusts and similar legal entities or arrangements

This is a draft act

This text has been parsed from the AMLA final report draft as published on 30 September 2026. While we run a suite of validations, the automated parsing can result in errors. Also, before it is finally adopted by the Commission, its wording, numbering and references may change, and entire articles might be removed or added.

Earlier drafts: AMLA consultation paper draft (9 February 2026)

    1. For the purposes of Article 22(4) of Regulation (EU) 2024/1624, the information obliged entities shall obtain from the trustee, legal entity or legal arrangement includes:

      1. a description of the class of beneficiaries and its characteristics, which shall contain sufficient information to allow the obliged entity to determine whether individual beneficiaries are ascertainable at the time of payout or at the time of the exercise by the beneficiary of its vested rights, and shall be treated as beneficial owners; and

      2. relevant documents to enable the obliged entity to establish that the description provided is correct and up to date.

    1. Obliged entities shall take risk-sensitive measures to ensure that the trustee, legal entity or legal arrangement provide timely updates, including on specific material events that may lead beneficiaries previously identified by class or characteristics to become ascertainable and thus beneficial owners.

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