BOI Report: what still applies in 2026

It is the Beneficial Ownership Information report that certain companies must file with FinCEN, the financial intelligence unit of the US Treasury, under the Corporate Transparency Act. It identifies the individuals who own or control the company.

Yes, but with a much narrower scope. On August 11, 2026, FinCEN published a final rule that permanently eliminates the reporting requirement for US companies and US persons. The requirement remains only for certain foreign entities registered to do business in the United States.

If the LLC was formed in Florida, it’s an entity created in the United States and is therefore no longer covered after the final rule. It doesn’t matter if the owners are foreign: what determines the requirement is where the company was formed.

Not for this requirement. The current definition of a reporting company looks at where the entity was formed, not at the nationality or residence of its owners. An entity formed in the United States is not covered.

Only entities that meet both conditions: they were formed under the law of a foreign country, and they registered to do business in a US state or tribal jurisdiction by filing with a secretary of state or similar office. Even then, several types of entities are exempt.

That is exactly the case that needs to be reviewed, because that registration is what turns a foreign entity into a potential reporting company. Before concluding anything, you have to check whether any of the available exemptions applies.

No. Under the current rules, no US person’s information is reported, whether as a beneficial owner or as a company applicant. Those persons are also exempt from providing their information to the company.

Legal name and trade names, the address of its principal place of business in the United States (or the address from which it operates here if its headquarters is abroad), the foreign country where it was formed, the first state or tribal jurisdiction where it registered, and its IRS tax ID number, or one from a foreign jurisdiction along with the name of that jurisdiction.

An individual who, directly or indirectly, exercises substantial control over the company or owns or controls at least 25% of its ownership interests. Because they must be individuals, a company, a trust or another entity cannot be a beneficial owner, although in specific cases an entity may be reported in their place.

It is the person who directly filed the company’s registration document and, if more than one person was involved, the person primarily responsible for directing or controlling that filing. There are two at most — and US persons are exempt from being reported.

Along with the final rule, FinCEN announced that it will delete from its database the information provided by US persons, who are now exempt. In any case, keep a copy of what you filed in the company’s records.

If you are a US person, no: the final rule exempts you from updating or correcting what you provided when you applied for it. If you are not, yes: you have 30 calendar days from the change to update it, and another 30 days from discovering inaccurate information to correct it.

It depends on when the company registered to do business in the United States, and we prefer not to publish a generic date that could be misleading. We confirm it against the official source for your specific case before committing to anything in writing.

Yes, FinCEN’s system is free and open to the public. Where we usually add value is earlier: in determining whether the requirement exists, and in mapping the ownership structure down to the individuals when there are intermediate entities.