New RCS requirement: Luxembourg’s National Identification Number

From November 12, 2024, any individual registered, or required to be registered, in the records of a Luxembourg Trade and Companies Register (RCS) entity must obtain or request a Luxembourg National Identification Number (LNIN). For the thousands of entities registered in Luxembourg, this is a significant operational change with a tight compliance window.  Laurent Goyer, counsel at A&O Shearman, and senior manager Karolina Gacka explain the new requirements and what they mean in practice.   What exactly does the LNIN requirement cover, and who is affected? What are the steps entities need to take to obtain an LNIN and update their RCS records? And what are the consequences of non-compliance if the transition is not managed in time?  Legal teams, company secretaries, and compliance officers managing Luxembourg-registered entities will leave this episode with a clear action plan for meeting the November deadline and avoiding the risks of non-compliance.