Diligent Entities September 2024 Release Notes

September 30, 2024

Early access to Entities AI available for Entities Platform

An early access release of Artificial Intelligence (AI) upgrades to Diligent Entities is available. Entities AI features drive efficient, informed and impactful entity management.

The following AI features are available:

• Document summary

• Entities assistant

For information on how AI features use Entities data, refer toEntities AI transparency notice.

AI features are inactive by default. Before you can use them, your organization's administrator must provision them for you. For information on how to activate AI features, refer to Managing AI features.

Document summary

With Document summary, you can get information on a document's content directly from Entities. Document summary works from Working documents and Document store to give you an overview of the contents of any document uploaded there.

For information on Document summary, refer to Document summary.

Entities assistant

With Entities assistant, you can get the key corporate information without navigating the Entities interface. When prompted, Entities assistant can list the following information:

• Company profile

• List of directors

• List of shareholders

• Upcoming due dates

• Addresses

For information on Entities assistant, refer to Entities assistant.

September 23, 2024

US Beneficial Ownership Information Reporting (BOIR) in Entities

Background

On Monday, January 1, 2024, US Financial Crimes and Enforcement Network (FinCEN) implemented the Corporate Transparency Act (CTA). Beneficial Ownership Information Reporting (BOIR) is enforced as part of the new CTA regulations.

To learn more about Beneficial Ownership Information Reporting, refer to the FinCEN website.

To learn more about reporting requirements and exemptions, refer to the FinCEN compliance guide.

Access to Beneficial Owner Information reporting in Entities

BOIR data recording and e-filing can be purchased as an additional licence option for Diligent Entities.

This functionality comes with additional user role rights controlling access levels.

To learn more about setting up access to BOI reporting in Entities, refer to Activating BOI Reporting in Entities.

BOIR in Entities

Entities features a set of wizards, data libraries, user-defined fields and screens which streamline gathering the necessary information to e-file BOIR to FinCEN.

The following updates were released to Entities to support Beneficial Ownership Information Reporting.

Data storage

Entities stores BOI data being reported or submitted in new data libraries and user-defined fields. Administrators must review and adjust user access to these elements individually.

To learn more about how Entities stores BOIR data, refer to US Beneficial Ownership Information Reporting (BOIR) in Entities.

Data libraries

The following new data libraries are available:

• BOIR Filing Information (SYS_BOI_FILE)

• BOIR Reporting Company (SYS_BOI_COMP)

• BOIR Company Applicant (SYS_BOI_CAPP)

• BOIR Beneficial Owner (SYS_BOI_BENO)

• BOIR Report (BOIRREPORT)

• Form of Identifying Document (SYS_IDDOC)

Storing FinCEN ID

You can store FinCEN IDs for Reporting Companies, Company Applicants and Beneficial Owners in a new user-defined field. For individuals who do not have FinCEN IDs, Entities stores identifying documents, and supports uploading and storing required document images.

• If a company or an individual has a FinCEN ID, it is stored in the new user-defined field FinCEN Id (SYS_BOI_FIID).

• If an individual does not have a FinCEN ID, they must provide and store identifying documentation in the Form of identifying document data library (SYS_IDDOC).

You can record this information using the new Set-up BOI Reporting (US) wizard, or in the Individuals details screen, by going to Data Libraries > New > Form of Identifying Document.

Storing Beneficial Owner's name suffix

If the Beneficial Owner's name contains a suffix, it is stored in the new Name suffix for US Beneficial Ownership Information Reporting (SYS_SUFFIX) user-defined field.

Reporting BOI

Entities features the new Set-up BOI Reporting (US) wizard for gathering information necessary to submit reports to FinCEN. The new BOI Filing (US) wizard is available for preparing, verifying and submitting the data electronically to FinCEN.

To learn more about how to gather, prepare, verify and e-file BOIR data, refer to Reporting BOI Information to FinCEN.

September 11, 2024

Group Visualization enhancements

Diligent Entities now features the following improvements to Group Visualization:

We improved how chart arrows are displayed in PPTX files.