FinCEN BOI reporting requirements for U.S. companies have officially come to an end. Business owners who have been following the changing requirements of the Corporate Transparency Act now have a definitive answer following a new final rule issued by the Financial Crimes Enforcement Network (FinCEN).
On August 11, 2026, the U.S. Department of the Treasury announced that FinCEN had issued a final rule permanently removing BOI reporting requirements for companies created in the United States and for U.S. persons. The rule finalizes exemptions that had been put in place on an interim basis in March 2025. You can read the Treasury Department’s announcement for more information.
What Is Beneficial Ownership Information?
Beneficial ownership information, commonly called BOI, is identifying information about the individuals who directly or indirectly own or control a company.
The BOI reporting requirements were created under the Corporate Transparency Act (CTA). When the original reporting rule took effect in January 2024, many corporations, limited liability companies and other entities were required to submit information about their beneficial owners to FinCEN.
Those requirements changed significantly in March 2025, when FinCEN issued an interim final rule exempting companies created in the United States from BOI reporting. The new final rule makes that exemption permanent.
FinCEN BOI Reporting Requirements for U.S. Companies
Companies created in the United States are not required to file beneficial ownership information reports with FinCEN.
Under the final rule published in the Federal Register, entities that were previously considered “domestic reporting companies” are excluded from the definition of a reporting company for purposes of the BOI reporting requirements.
This means that a corporation, LLC or other entity created by filing formation documents with a U.S. state or Tribal jurisdiction generally does not have a federal BOI filing obligation under the Corporate Transparency Act.
What Happens to BOI Reports That Were Already Filed?
Many U.S. businesses submitted BOI reports before the reporting requirements changed. FinCEN has now announced that it is implementing a process to delete information about individuals that it reasonably believes was provided by U.S. persons.
This includes information associated with beneficial owners, company applicants and recipients of FinCEN identifiers. FinCEN has indicated that it will work with the National Archives and Records Administration as necessary to ensure the deletion process complies with applicable federal records laws.
FinCEN Identifiers for U.S. Persons
The final rule also changes the requirements for U.S. persons who previously applied for a FinCEN identifier.
U.S. persons with FinCEN identifiers are no longer required to update or correct the information they originally provided to FinCEN when applying for the identifier.
BOI Reporting Still Applies to Certain Foreign Companies
BOI reporting has not disappeared entirely.
Under the final rule, the definition of a “reporting company” is generally limited to certain entities that were formed under the laws of a foreign country and subsequently registered to do business in a U.S. state or Tribal jurisdiction.
Foreign entities that meet this definition and do not qualify for another exemption may still be required to file BOI reports with FinCEN.
However, these reporting companies do not have to report beneficial ownership information for U.S. persons. The final rule also removes the requirement for foreign reporting companies to report U.S. persons who qualify as company applicants.
FinCEN has published questions and answers about the BOI final rule with additional guidance on which entities are still required to report and how the new requirements apply.
What Does a Foreign Reporting Company Have to Report?
A foreign entity that remains subject to the BOI requirements may be required to provide information about the company itself, including its legal name, trade or DBA names, business address, jurisdiction of formation, jurisdiction where it first registered in the United States and taxpayer identification information.
It may also need to report information about beneficial owners who are not U.S. persons. Generally, a beneficial owner is an individual who directly or indirectly exercises substantial control over the company or owns or controls at least 25% of its ownership interests.
State Business Filing Requirements Still Apply
The end of BOI reporting for U.S. companies does not eliminate state business filing and compliance requirements.
Companies may still need to file annual reports, franchise tax reports, amendments, foreign qualifications and other documents to remain in good standing. Businesses must also continue to maintain a registered agent where required by state law.
Federal BOI reporting requirements are separate from these state-level obligations, so businesses should continue monitoring the filing requirements that apply in each state where they are formed or registered to do business.
What the Final BOI Rule Means for Businesses
For U.S. business owners, the August 2026 final rule provides certainty after several years of changing deadlines, court challenges and regulatory updates surrounding the Corporate Transparency Act.
If your company was created in the United States, you are no longer required to file a BOI report with FinCEN under the current rule. If your entity was formed outside the United States and registered to do business here, however, BOI reporting requirements may still apply.
Businesses should also remember that the end of federal BOI reporting does not change their ongoing state compliance responsibilities. Staying current with annual reports, registered agent requirements and other state filings remains important for keeping an entity in good standing. Need help with your ongoing compliance? URA offers Annual Report Services to make sure your company remains in good standing.
