This reform was enacted by Resolution No. 913 of July 31, 2017 by the Government of the Russian Federation.
The document regulates the timing and procedure for the provision of such data. In particular, requests of authorized bodies can be sent in electronic form or on paper. When sending electronic requests, the Federal Financial Monitoring Service uses the communication infrastructure of the Federal Tax Service of Russia. Information on beneficial owners shall be submitted within 5 working days from the date of receipt of the request. It is also possible to submit updated data within 3 working days.