Article 12 Identification and verification of beneficiaries of trusts and similar legal entities or arrangements

This is a draft act

This text has been parsed from the AMLA final report draft as published on 30 September 2026. While we run a suite of validations, the automated parsing can result in errors. Also, before it is finally adopted by the Commission, its wording, numbering and references may change, and entire articles might be removed or added.

Earlier drafts: AMLA consultation paper draft (9 February 2026)

Summary What does Article 12 of the RTS on customer due diligence say?

This article builds directly on Article 22(4) of Regulation (EU) 2024/1624, specifying what obliged entities must obtain when dealing with trusts, legal entities, or legal arrangements where beneficiaries are not yet individually identified but defined by class or characteristics.

The core concern here is determining at what point those class-defined beneficiaries become individually ascertainable and therefore qualify as beneficial owners — a determination that has significant implications for due diligence obligations.

The article also places an ongoing monitoring duty on obliged entities to stay informed of material changes that could trigger this transition.

Important points:

Obtain a description of the class of beneficiaries with enough detail to assess whether individual beneficiaries are ascertainable at the time of payout or when vested rights are exercised.
Request supporting documents from the trustee, legal entity, or legal arrangement to confirm that the description provided is correct and up to date.
Take risk-sensitive measures to ensure timely updates are received when material events occur that could cause class-defined beneficiaries to become individually identifiable beneficial owners.

Springlex's summary of the article is a reading aid, not a substitute for the legal text.

1. For the purposes of Article 22(4) of Regulation (EU) 2024/1624, the information obliged entities shall obtain from the trustee, legal entity or legal arrangement includes:
  1. a description of the class of beneficiaries and its characteristics, which shall contain sufficient information to allow the obliged entity to determine whether individual beneficiaries are ascertainable at the time of payout or at the time of the exercise by the beneficiary of its vested rights, and shall be treated as beneficial owners; and
  2. relevant documents to enable the obliged entity to establish that the description provided is correct and up to date.
1. Obliged entities shall take risk-sensitive measures to ensure that the trustee, legal entity or legal arrangement provide timely updates, including on specific material events that may lead beneficiaries previously identified by class or characteristics to become ascertainable and thus beneficial owners.

Table of contents

Springlex and this text is meant purely as a documentation tool and has no legal effect. No liability is assumed for its content. The authentic version of this act is the one published in the Official Journal of the European Union.

Article 12 Identification and verification of beneficiaries of trusts and similar legal entities or arrangements

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