BOI Reporting Update: One Less Filing Requirement for U.S. Businesses

After years of changes and uncertainty, the Financial Crimes Enforcement Network (FinCEN) has finalized a rule permanently exempting U.S. companies and U.S. persons from federal beneficial ownership information (BOI) reporting under the Corporate Transparency Act. The rule took effect August 14, 2026.

What does this mean for your business?

• If your business was created in the United States, you no longer need to file BOI reports with FinCEN. The final rule makes the exemptions introduced in 2025 permanent.

• FinCEN has announced plans to delete previously reported information associated with U.S. persons from its BOI database.

• Certain businesses formed outside the United States and registered to do business here still have reporting obligations.

This change concerns federal BOI reporting. Continue keeping up with your business’s other tax filings, annual reports and state requirements.

Have questions about how this change applies to your business? Contact Mills, Dayton & Company. We’re here to help you understand changing requirements and keep your business moving forward.

Learn more: https://www.fincen.gov/boi