There’s been a big shift in the world of compliance. If you own a U.S.-based corporation, LLC, or similar entity, here’s some good news: as of March 26, 2025, the Financial Crimes Enforcement Network (FinCEN) has eliminated the Beneficial Ownership Information (BOI) filing requirement for domestic entities under the Corporate Transparency Act (CTA).
Let’s break down what’s changed—and what still matters.
What Just Happened?
FinCEN issued an interim final rule stating that U.S.-formed entities are no longer required to submit BOI reports. This change is designed to reduce regulatory burdens on domestic businesses and target enforcement efforts where they’re most needed—foreign entities operating in the U.S.
So Who Does Still Need to File BOI?
Right now, only foreign reporting companies must comply. That includes entities:
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Formed outside the U.S.
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That register to do business in any U.S. state or tribal jurisdiction
If that’s not you, congrats—you’re off the hook (for now). But if you’re managing a foreign entity operating in the U.S., keep reading.
Deadlines for Foreign Entities
If you’re a foreign reporting company:
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Formed or registered before March 26, 2025?
Your BOI report is due by April 25, 2025. -
Formed or registered on or after March 26, 2025?
You have 30 calendar days from registration to file.
What Needs to Be Reported?
Foreign entities still required to file must report:
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Company details: Legal name, address, jurisdiction, TIN/EIN
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Beneficial owners: Names, DOB, residential address, ID numbers
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Company applicants: For entities formed after Jan 1, 2024
What Should U.S. Businesses Do Now?
Even though the requirement’s been lifted, don’t let your guard down:
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Laws can (and do) change—stay tuned
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If you’re unsure about your entity’s classification, get clarity
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Still work with your CPA or legal team to monitor evolving requirements
How We Help
We stay on top of rule changes like this so you don’t have to. If you’re unsure whether your business is impacted or want help interpreting new requirements, we’ve got you.
We don’t file BOI reports, but we’re here to help you understand what applies to you—and what doesn’t.
Final Word
Regulations shift, but your responsibility to stay informed doesn’t. The BOI filing requirement may be paused for U.S. companies, but smart businesses are still keeping tabs on what’s next.
Got questions or managing a foreign entity that does need to file?
Let’s talk before the deadlines hit. Why wait?
📅 Not Sure If You Still Need to File BOI?
Deadlines are approaching fast for foreign entities—and rules can shift anytime. Let’s clarify your filing obligations and help you stay compliant.
Schedule your consultation now →
