Recital 4 Balance of time limits

The reporting time limits referred to in Article 20, first paragraph, point (a)(ii), of Regulation (EU) 2022/2554 should therefore balance the need for competent authoritiesas defined in Article 46 to receive the information quickly, with the need to provide financial entitiesas defined in Article 2, points (a) to (t) with sufficient time to obtain complete and accurate information.