This coming Sunday, 27 March 2022, is the very last day of the deadline by which organisations must have registered their UBOs in the UBO register.
No postponement
Finance Minister Kaag has, in answers to parliamentary questions She has stated that the deadline will not be extended. She points out that legal entities have had (well over) 18 months to arrange for the registration of their UBOs. That should be sufficient.
One of the reasons for raising these questions is a preliminary ruling procedure currently pending before the Court of Justice of the European Union in Luxembourg concerning the privacy aspects of the UBO register. Ms Kaag does not regard these proceedings – partly in light of the opinion delivered by the Advocate General at the Court – as grounds for postponing the deadline.
Press reports indicate that, at present, approximately 33% of legal entities have registered their UBOs. It is not yet clear what specific penalties will be imposed for late registration.