Compliance
BOI reporting in 2026: do U.S. companies still file with FinCEN?
FinCEN's final rule, effective August 14, 2026, permanently exempts U.S. companies and U.S. persons from beneficial ownership information (BOI) reporting. Only certain foreign companies registered in a U.S. state still file. Who files, deadlines, penalties and scams to watch for.
Prepared by Aldro Accounting · Updated · Sources checked
The quick answer
No, U.S. companies no longer file BOI reports. FinCEN issued a final rule on August 11, 2026, effective August 14, 2026, that permanently removes the beneficial ownership reporting requirement for U.S. companies and U.S. persons under the Corporate Transparency Act. Only entities formed under foreign law and registered to do business in a U.S. state or tribal jurisdiction still report, and only for their foreign individuals.
Where BOI reporting stands now
On August 11, 2026, FinCEN, part of the U.S. Department of the Treasury, issued a final rule that permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information under the Corporate Transparency Act. The rule became effective on August 14, 2026, on its publication in the Federal Register.
Under the rule, U.S. companies are exempt and no longer have to file BOI reports. Reporting companies don't report BOI for U.S. person beneficial owners or U.S. person company applicants, and U.S. persons don't have to provide BOI to reporting companies they own or helped form. U.S. persons with a FinCEN ID don't have to update or correct what they submitted before.
FinCEN also announced it will delete information previously reported by U.S. persons from the beneficial ownership information database.
Who still has to file
FinCEN's regulations now define a "reporting company" as only an entity formed under the law of a foreign country that has registered to do business in any U.S. state or tribal jurisdiction by filing a document with a secretary of state or similar office. These were formerly called foreign reporting companies.
Scroll sideways to see all columns.
| Company | Files a BOI report? | Whose information |
|---|---|---|
| LLC or corporation created in a U.S. state | No | None. U.S. companies are exempt |
| U.S.-created company with foreign owners | No | None. All entities created in the United States are exempt |
| Company formed abroad and registered to do business in a U.S. state, not otherwise exempt | Yes | Its foreign individuals. U.S. person owners and company applicants aren't reported |
All entities created in the United States, including those once called domestic reporting companies, and their beneficial owners are exempt. Foreign reporting companies that don't qualify for an exemption still report BOI for their foreign individuals.
How the rule changed from 2025 to 2026
FinCEN says some guidance on its website is outdated. It tells readers to disregard anything saying that U.S. companies or their owners must report BOI, that BOI must be reported for U.S. persons, that U.S. persons must update FinCEN IDs, or that reports were due before April 25, 2025.
- March 2, 2025: Treasury announced it would not enforce BOI penalties against U.S. citizens or domestic reporting companies.
- March 21, 2025: FinCEN announced an interim final rule removing the requirement for U.S. companies and U.S. persons.
- March 26, 2025: FinCEN published the interim final rule, limiting "reporting company" to foreign-formed entities.
- August 11, 2026: FinCEN issued the final rule making the exemptions permanent.
- August 14, 2026: The final rule took effect.
Deadlines for foreign reporting companies
Foreign reporting companies registered to do business in the United States before March 26, 2025 had to file by April 25, 2025. Those registered on or after March 26, 2025 have 30 calendar days to file an initial report after receiving notice that their registration is effective.
There is no annual BOI report. A reporting company files an initial report, then updated or corrected reports as needed. An update is due no later than 30 days after a change to the required information. A correction is due no later than 30 days after the company becomes aware, or has reason to know, of an inaccuracy. FinCEN says correcting a mistake within 90 days of the original report's deadline may avoid a penalty.
Reports are filed online through FinCEN's BOI E-Filing site, boiefiling.fincen.gov. There is no fee to file directly with FinCEN. Giving ownership information to a state office, a bank or the IRS doesn't satisfy the FinCEN requirement for a company that must report.
Beneficial owners and company applicants
A beneficial owner is an individual who, directly or indirectly, exercises substantial control over the reporting company or owns or controls at least 25% of its ownership interests.
Only reporting companies created or registered on or after January 1, 2024 report company applicants, and no more than two.
Penalties, and who they don't apply to
FinCEN says it will not enforce any BOI penalties or fines against U.S. citizens or domestic reporting companies or their beneficial owners.
For companies still required to report, a willful violation carries a civil penalty that FinCEN's FAQ puts at $591 a day, adjusted each year for inflation. Criminal penalties can reach two years in prison and a $10,000 fine.
BOI scams FinCEN warns about
BOI reports go to FinCEN, not the IRS, and they aren't tax returns. Aldro's flat yearly price covers everything tax for the year: the federal and state business returns our team prepares and files.
- Letters that mention a "Form 4022" or "Form 5102". FinCEN has no such forms.
- Anything from a "US Business Regulations Dept." No government office by that name exists.
- Requests for payment. FinCEN doesn't send correspondence asking for payment to file BOI.
- Suspicious links or QR codes, and first contact about penalties by email or phone, which FinCEN doesn't do.
Common questions
Do I need to file a BOI report in 2026?
Not if your company was created in the United States. FinCEN's final rule, effective August 14, 2026, exempts U.S. companies and U.S. persons. Only certain foreign companies registered to do business in a U.S. state still file.
Is BOI reporting still required for LLCs?
Not for LLCs created in the United States. All U.S.-created entities and their beneficial owners are exempt.
What happens to the BOI I already filed?
FinCEN announced it will delete information previously reported by U.S. persons from its database. U.S. persons with a FinCEN ID don't need to update or correct it.
Is there a fee to file a BOI report?
No. There is no fee to file directly with FinCEN, and FinCEN doesn't send letters asking for payment to file.
When must a foreign company file its BOI report?
Within 30 calendar days after notice that its U.S. registration is effective, for registrations on or after March 26, 2025. Updates are due within 30 days of a change.
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Sources
- FinCEN: Beneficial ownership information reporting · checked October 31, 2026
- FinCEN: BOI frequently asked questions · checked October 31, 2026
- FinCEN: Permanently ends beneficial ownership reporting requirements (Aug. 11, 2026) · checked October 31, 2026
This guide explains general rules from the sources listed. It isn’t tax advice for your situation.