FinCEN Permanently Eliminates BOI Reporting Requirements for U.S. Companies

Beneficial Ownership Information (BOI) reporting has generated significant attention since the Corporate Transparency Act was enacted. FinCEN has now issued a final rule that settles the reporting obligations for U.S. companies and persons.

Effective August 14, 2026, U.S. companies and U.S. persons are no longer required to report BOI under the Corporate Transparency Act. The rule adopts, with limited changes, the interim rule issued in March 2025 that narrowed BOI reporting requirements.

What Changed?

The final rule permanently exempts U.S. companies and U.S. persons from BOI reporting requirements. It also exempts U.S. persons who obtained FinCEN Identifiers from having to update or correct information previously provided to FinCEN.

In addition, FinCEN confirmed that it will delete previously submitted information about individuals it reasonably believes are U.S. persons.

Who Is Still Affected?

Certain foreign entities that qualify as reporting companies may still be required to report Beneficial Ownership Information for foreign individuals. The final rule also includes additional exemptions related to U.S. persons associated with those entities.

What This Means for Businesses

For most U.S.-based businesses, BOI reporting is no longer a filing requirement. Companies that previously anticipated reporting beneficial ownership information to FinCEN are no longer required to do so under the final rule.

If you're unsure how these changes affect your organization, Redpath can help you evaluate any remaining reporting requirements.