On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) changed the rules for filing Beneficial Ownership Information (BOI) reports under the Corporate Transparency Act. The update issued by press release and posted on FinCEN’s website states:
All entities created in the United States – including those previously known as “domestic reporting companies” – and their beneficial owners are now exempt from the requirement to report Beneficial Ownership Information (BOI) to FinCEN. Existing foreign companies that must report their beneficial ownership information have at least an additional thirty (30) days from the date of publication of the interim final rule.
Based on this, all entities formed in the United States are now exempt from filing BOI reports. Only entities formed under the laws of a foreign country and that have registered to do business in any U.S. state are required to file BOI reports.