On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule removing the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) under the Corporate Transparency Act (CTA). However, entities that are formed under the law of a foreign country that have registered to do business in a U.S. state or Tribal jurisdiction by filing with a secretary of state or similar office are still required to report their BOI. These entities must file within 30 days of the rule’s publication.
23
Exempt
BOI Reporting
Am I required to report Beneficial Ownership Information?
Only certain "Reporting Companies" need to share information with the CTA. These are companies formed within the United States: like corporations, limited liability companies (LLCs), or partnerships that registered in any state, territory, or Indian tribe. Reporting Companies also include businesses from other countries that want to do business in the US. However, some types of organizations, like trusts (except for certain specific trusts), do not need to share information with the CTA. There are 23 types of entities that are exempt from the CTA reporting requirement. Click the Do I Need to File? button above to access more information about whether your company is required to file a BOI Report.
