BOI Reporting in 2026: What LLC Owners Need to Know

The Corporate Transparency Act (CTA) created a federal requirement for many companies to report their beneficial owners to the Financial Crimes Enforcement Network (FinCEN). The rules have changed repeatedly since they were passed, so this guide explains the current picture and how to confirm it, rather than assuming what applied last year.

The short version

In March 2025, FinCEN issued an interim final rule that removed the beneficial ownership reporting requirement for entities created in the United States, and for their US beneficial owners. Under that rule, only entities formed under foreign law that have registered to do business in a US state or tribal jurisdiction remain subject to reporting, and they are exempt from reporting US persons as beneficial owners. FinCEN can update the rule, so check its site before relying on any summary, including this one.

What this means for a US LLC

• A domestic LLC formed in a US state is generally not required to file a BOI report under the current rule.
• A foreign entity registered to do business in the US may have to file, and should confirm deadlines and requirements with FinCEN.
• You do not need to update or correct old reports on the basis of the new rule alone, but you should keep the records you have.

What BOI information is

Beneficial ownership information identifies the individuals who own or control a company: typically anyone with substantial control or at least a 25 percent ownership interest. A report includes names, dates of birth, addresses, and an identification document number for each beneficial owner, and, under the original rules, details about the individual who filed the company's formation document.

How to stay current

1. Check the official FinCEN beneficial ownership information page for the current rule and any deadlines.
2. Watch for court decisions and rulemaking, because the requirement's scope has shifted through litigation and rule changes.
3. Keep an internal record of who owns and controls your company, since banks and states may still ask for ownership details for other purposes.
4. Beware of unsolicited emails or mailers demanding fees to file a BOI report. Filing with FinCEN is free, and scams have used the requirement.

State-level disclosures still apply

Separate from the federal rule, some states require ownership or manager details in their own annual or periodic reports. Check your state's requirements in our state guides.

This page is general information, not legal advice, and reporting rules can change quickly. Confirm the current requirement with FinCEN or an attorney.

A quick decision guide

Treat the table as orientation, not advice, because the rule has been revised more than once and can change again. The reliable source is FinCEN's own page.

Warning: BOI scams

After the reporting rules were announced, some companies received official-looking letters and emails demanding payment to file a BOI report. FinCEN does not charge a filing fee and does not send unsolicited requests for payment. If you receive one, do not pay or click links, and verify through FinCEN's official website.