Key Takeaways
- If your LLC or corporation was formed in the United States, you do not need to file a Beneficial Ownership Information (BOI) report with FinCEN - this has been the case since FinCEN's March 2025 interim final rule.
- Only companies formed in a foreign country that are registered to do business in the US still have a BOI filing requirement.
- This exemption applies automatically - you don't need to file anything to claim it, and there are currently no penalties for not filing if you're a domestic company.
- FinCEN has said it intends to make this exemption permanent through a final rule, but as of mid-2026 that final rule still hasn't been published - the interim rule remains in effect in the meantime.
- If your LLC previously filed a BOI report before the rule changed, you don't need to do anything further; there's no requirement to withdraw or update that filing.
If you own an LLC and have been putting off dealing with the Beneficial Ownership Information (BOI) reporting requirement, here’s the update you’ve been waiting for: you almost certainly don’t need to file, and haven’t since March 2025.
This page has gone through several rounds of “wait and see” as courts and Treasury went back and forth on the Corporate Transparency Act (CTA). That back-and-forth is essentially over for domestic businesses. Here’s where things actually stand.
The Short Answer: US-Formed LLCs Are Exempt
On March 21, 2025, FinCEN announced it would not enforce BOI reporting against domestic reporting companies — meaning any LLC, corporation, or similar entity formed under US state law — or their beneficial owners. FinCEN published this as an interim final rule on March 26, 2025, which narrowed the entire BOI reporting requirement down to one group: companies formed in a foreign country that are registered to do business in the United States.
If you formed your LLC in Delaware, Texas, Florida, or any other US state, you are not a “reporting company” under the current rule, full stop. You don’t need to file, and you don’t need to file anything to claim the exemption — it applies automatically based on where and how your company was formed.
Who Still Has to File
The requirement now applies narrowly to foreign entities registered to do business in the US:
- Reporting companies that were foreign entities registered to do business in the US before March 26, 2025 had to file their initial BOI report by April 25, 2025.
- Foreign entities that register to do business in the US on or after March 26, 2025 have 30 calendar days from the date their registration becomes effective to file an initial BOI report.
If that’s not your situation — you’re a US citizen or US-formed entity — none of this applies to you.
Is This Permanent?
Not officially yet, and that’s the one loose thread worth flagging. FinCEN has repeatedly signaled it intends to finalize this exemption through a formal rulemaking process, and as of mid-2026, FinCEN’s director has said she’s “optimistic” a final rule is coming soon. But it hadn’t been published as of this update.
In practice, that distinction hasn’t mattered much for over a year: the exemption for domestic companies has held continuously since March 2025 under the interim rule, with no indication from Treasury or FinCEN that it plans to reverse course. But because the final rule technically isn’t locked in, it’s worth a quick check of FinCEN’s BOI page if you want the most current status before assuming this is permanently settled.
What If I Already Filed?
If you filed a BOI report before the March 2025 rule change, you don’t need to do anything — there’s no requirement to withdraw or amend a filing that’s no longer required. It simply becomes moot.
Bottom Line
Unless your LLC or corporation was formed outside the United States and is registered to do business here, you can cross BOI reporting off your compliance checklist for now. If you’re a foreign-formed entity operating in the US, the filing requirement and deadlines above still apply to you, and it’s worth confirming your specific situation with a business attorney given the moving pieces here.
