FinCEN Issues Final Rule Exempting U.S. Companies and Persons from Beneficial Ownership Information Reporting
Jeff Storch | 08.12.26
On August 11, 2026, the Financial Crimes Enforcement Network (FinCEN) announced that it was issuing a final rule that permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act (CTA). We previously wrote on FinCen's 2025 announcement halting CTA enforcement and its March 21, 2025 issuance of an interim final rule. Over a year later, FinCEN now has issued the "permanent" final rule, which is effective upon its publication in the Federal Register and is available here.
FinCEN also announced that it will delete previously reported information by U.S. persons who are now exempt from the reporting requirements from the beneficial ownership information database. FinCEN reiterated that foreign entities that are reporting companies will still be required to report BOI for foreign individuals.
Pending new legislation (or a new "final" rule), U.S. companies and persons no longer must report BOI under the CTA.
DISCLAIMER: The information provided is for general informational purposes only. This post is not updated to account for changes in the law and should not be considered tax or legal advice. This article is not intended to create an attorney-client relationship. You should consult with legal and/or financial advisors for legal and tax advice tailored to your specific circumstances.