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Filter: Beneficial Ownership
Are you an Accountable Institution under FICA?

27 February 2025,  Nothando Khanyile

Accountable Institutions are key role players in the fight against crime. Businesses must know whether they qualify as an Accountable... Institution based on the services they provide. 

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489
Article
Beneficial Ownership reporting: dormant and deregistered trusts

06 February 2025

Is reporting still required for dormant or deregistered trusts? Uncover the key details you need to know! 

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616
Article
Trustee administrative duties under the spotlight

03 September 2024,  Elani Volschenk

With new reporting obligations on trustees and SARS intensifying its submission requirements in respect of trust tax returns, no trustee... can afford to ignore the administrative duties imposed upon them in terms of common law and statutory law. In this article we briefly list some of the main administrative duties falling to any trustee.

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2030
Article
Three’s a crowd? SARS, Trusts and Beneficial Ownership

22 April 2024,  Dr Candice Reynders, Elani Volschenk

The General Laws Amendment Act 22 of 2022 (“Amendment Act”) promulgated as part of legislative framework changes by South Africa... to curb money laundering, has introduced key changes to the trust environment, requiring extensive beneficial ownership and other reporting by trusts. SARS is also aligning its tax and data collection imperative with these changes by requiring similar reporting as part of trust tax submissions. In this article, we review the impact of these changes on trusts.

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1844
Article
New CIPC changes for the filing of annual returns

15 January 2024,  Elani Volschenk

CIPC has again announced changes to the CIPC system for the filing of annual returns and beneficial ownership information, which... introduces mandatory obligations for companies and close corporations when filing their annual returns. 

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3508
Article
New SARS beneficial ownership disclosures when filing your trust tax returns

29 November 2023,  Elani Volschenk

Trustees should take note of additional requirements relating to the filing of provisional Trust tax returns in January 2024 as... SARS climbs on the beneficial ownership reporting train.

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1907
Article
Trustees take note – new platform for your trust Beneficial Ownership reporting

06 November 2023,  Elani Volschenk

This October, the Acting Chief Master signed a directive introducing the new electronic platform for reporting Beneficial Ownership information at... the Master following concerns raised about the previously used Google Forms document for providing Beneficial Ownership information to the Master. This new electronic platform will now have to be used for all Beneficial Ownership reporting by trustees. In this article, we take a look at the new platform as well as some of the other aspects flowing from the directive. 

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1126
Article
Estate Planning – a necessary tool in uncertain times

06 November 2023,  André van Niekerk

The last number of years have seen the world go through dramatic changes, pandemics, environmental upheavals, wars, financial volatility and... massive political uncertainty affecting every individual and country in one way or another. South Africans have not been spared with loadshedding, escalating fuel prices and rising inflation further adding to the uncertainty. This makes it feel as if planning for the future is pointless and all you can really do is survive the now. In this article we discuss why this could be a dangerous strategy.

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686
Article
The ‘what’ and ‘when’ of the new beneficial ownership reporting for companies

10 May 2023,  Dr Candice Reynders, Luhann Prinsloo

Surprisingly, many companies remain blissfully unaware of the new company reporting requirements introduced by the General Laws (Anti-Money Laundering and... Combatting Terrorism Financing) Amendment Act 22 of 2022 (“Amendment Act”). The Amendment Act introduces changes to the company environment (effective 1 April 2023) which will have an administrative impact on South African companies. In this article we delve into the ‘what’ and ‘when’ of these new reporting requirements.

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3646
Article
Trustees take note! How to record your beneficial ownership structure

18 April 2023,  André van Niekerk, Johnny Davis

In a previous article we unpacked the introduction and meaning of the new ‘beneficial owner’ definition introduced into the law... of trusts by the General Laws (Anti-Money Laundering and Combatting Terrorism Financing) Amendment Act 22 of 2022 (“Amendment Act”). With these changes being effective as of 1 April 2023, trustees should be awake to the proposed process for recording and submitting your trust’s beneficial ownership information to the Master of the High Court. 

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3963
Article
New Beneficial Ownership rules for companies and trusts

14 April 2023,  Luhann Prinsloo

With the new General Laws (Anti-money Laundering and Combatting of Terrorism Financing) Amendment Act 22 of 2022 (“Amendment Act”) having... come into operation on 1 April 2023, a new definition of ‘beneficial ownership’ has been formally introduced in a number of key laws affecting all trusts and companies. In this article we delve a bit deeper into this new concept.

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5512
Article
Trustees MUST now report their status! Find out why

30 March 2023,  André van Niekerk, Johnny Davis, Mark le Riche

With major amendments to South Africa’s anti-money laundering framework scheduled to take effect from 1 April 2023 as part of... Government’s strategy to remedy South Africa’s grey listing status, all trustees should take careful note of the new disclosure requirements that will apply to them.

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1389
Article

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