Over 22,000 companies have still not filed a notification of beneficial owners – the PRH will send a reminder letter to those who have failed to comply with the requirement

More than 22,000 limited liability companies and co-operatives have not filed details of their beneficial owners with the Finnish Trade Register, even though they have been obliged to do so since summer 2020. The Finnish Patent and Registration Office (PRH), which maintains the Trade Register, will send a reminder letter to these companies in the summer or early autumn. If the notification of beneficial owners is not filed by the deadline, a negligence fee of 300 euros will be imposed on the company.

Most companies must file details of their beneficial owners with the Finnish Trade Register. Beneficial owners are people who have ownership interest or control in the company. The filing of beneficial owner details does not apply to, for instance, private traders, listed companies, or mutual real estate limited companies.

Beneficial owner details support the prevention of money laundering

Beneficial owner details are needed to combat money laundering and terrorist financing.

Banks, insurance companies, accounting firms and authorities use beneficial owner details to identify their customers and to fulfil their statutory obligations. Without registered beneficial owner details, banking and insurance matters may be more complicated to handle.

“The obligation to file beneficial owner details with the Finnish Trade Register is based on the Finnish Trade Register Act. The same obligation applies to companies in all EU member countries,” says Legal Officer Jussi Huolman.

Companies have had several years to file the details

The PRH has registered the beneficial owner details of companies since July 2019. The transition period for filing the required details ended in the summer of 2020. The majority of the over 310,000 obliged companies have filed their beneficial owner details with the register.

The PRH has regularly reminded companies through various channels about filing and keeping beneficial owner details up to date. The PRH has also sent letters to companies that have failed to file beneficial owner details.

The negligence fee is based on the Finnish Trade Register Act

The negligence fee imposed for failing to file beneficial owner details is based on the Finnish Trade Register Act.

The PRH imposes a negligence fee if the company does not file beneficial owner details by the deadline stated in the reminder. The Legal Register Centre collects the fee and transfers it to the state.

Since 2025, the PRH has been able to impose a negligence fee on companies that do not correct deficiencies or errors in their Trade Register details despite the PRH’s request.

For further information, please contact

Legal Officer
Jussi Huolman
Finnish Patent and Registration Office (PRH)
Tel. +358 29 509 5898