BOIR Filing Update...

FinCEN removes BOI reporting requirement for US Businesses,
Sets New Deadlines for Foreign Companies 

Financial Crimes Enforcement Network (FinCEN) is issuing an interim final rule that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act.​

​

In that interim final rule, only entities formed under the law of a foreign country and that have registered to do business in any U.S. State or Tribal jurisdiction by the filing of a document with a secretary of state or similar office (formerly known as “foreign reporting companies”) will be subject to BOI reporting requirements.

​

So, if your entity was formed/created in the US, your entity and beneficial owners will be exempt from the requirement to report BOI to FinCEN. 

​

You can access additional information on the FinCEN website update

 

Last updated March 22, 2025