Beneficial Ownership Information (BOI) Reporting Update

**Most U.S. companies are no longer required to file BOI reports with FinCEN.**

In 2025, the Financial Crimes Enforcement Network (FinCEN) revised the Corporate Transparency Act (CTA) rules. As a result:

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**U.S.-formed entities** (including LLCs and corporations created in the United States) **are no longer required to file Beneficial Ownership Information (BOI) reports**.
**Foreign-formed companies** that are registered to do business in the U.S. **may still be required to file BOI reports**, subject to specific rules and deadlines.

For the majority of small and mid-sized U.S. businesses, **no BOI filing is currently required**.

Because BOI rules have changed rapidly and may continue to evolve, businesses with foreign ownership or foreign registrations should consult with their CPA or legal advisor to confirm whether any filing obligations apply.