Beneficial Ownership Information (BOI): U.S. Reporting Update

BOI reporting update — reviewed October 24, 2026. Earlier versions of this article described requirements and deadlines that no longer apply to U.S. companies. Do not rely on an old filing reminder to decide whether you must file.

Do U.S. companies need to file BOI reports?

FinCEN’s current guidance says U.S. companies are exempt from beneficial ownership information reporting. Its final rule took effect August 14, 2026. This replaces the older blanket statement that domestic LLCs and corporations must submit a BOI report.

Foreign entities need a separate review

Some entities formed under foreign-country law and registered to do business in a U.S. state or tribal jurisdiction may still be reporting companies unless an exemption applies. State registration outside the state where a U.S. entity was formed is not the same as formation under foreign-country law. Verify entity formation, exemptions and current filing deadlines before taking action.

Use current official information

Read FinCEN’s current BOI guidance, including its final-rule announcement and reporting-company instructions. Avoid relying on older penalty amounts, 2024 deadlines or unsolicited notices requesting a filing fee.

This change does not remove separate income tax, payroll tax or state entity filing obligations. Review those requirements independently.

For help organizing your accounting records or identifying your agreed tax-preparation needs, request a remote meeting or review corporation and partnership tax preparation services. BOI eligibility and legal questions should be reviewed with an appropriate adviser; this article is general information.