Every Belgian company has an annual obligation that is less enthusiastically welcomed than, for example, a successful year-end closing: the reconfirmation of the UBO register. But it doesn't have to be difficult at all! Especially if you know what, why and how.

 What is the UBO register?

 UBO stands for Ultimate Beneficial Owner. There are different categories of UBOs, depending on the type of control they have, the role of the person involved, and the type of entity involved. The FPS Finance uses the UBO register to store information about who is really behind a company or non-profit organisation.

The aim?

      · To increase transparency

      · Combating money laundering and fraud

      · Clearly identify the real owners

Do you have a Belgian company, non-profit organisation, foundation or legal entity? Then your company is also subject to this obligation. The annual reconfirmation is often forgotten, but it is indeed a legal requirement!

 Many entrepreneurs think that only changes need to be reported, but that is not the case! Even if nothing has changed, you must confirm every year that the registered information is still correct and up to date.

What if you don't do this?

In the event of a breach of the provisions relating to the identification and communication of information about the ultimate beneficial owners, administrative penalties of between £250 and £50,000 may be imposed.

How do you know when you need to confirm?

The deadline depends on your last confirmation date. For example, if you confirmed on 15/02/2025, the new confirmation must be made no later than 15/02/2026. You can check this yourself via MyMinfin (My Declaration, My UBO registration files) under your company's UBO file.

How do you confirm your UBO details?

• Go to MyMinFin or directly to the UBO register.
• Log in with eID, itsme or an alternative method.
• If you have multiple mandates, select the specific entity for which you want to confirm the details.
• Open the UBO file
• Check that everything is still correct.
• Click on 'Annual confirmation' at the bottom
• Download or print the confirmation document. Also send it to your accountant.
  
  

Tip: do you work with eStox (secure digital securities register)?

In that case, the UBO reconfirmation is sometimes carried out automatically via the digital share register.  Be sure to check this with your accountant or file manager.

Summary

      · Mandatory annually, even if there are no changes.

      · Check the UBO register of your entity or entities annually,

      · Penalties for late submission,