Last reviewed: 2 November 2026, against FinCEN's official page at fincen.gov/boi.
US LLCs no longer file BOI reports
If your company was formed in a US state, you do not need to file a beneficial ownership information (BOI) report with the Financial Crimes Enforcement Network (FinCEN). This covers every LLC and corporation formed in the United States, including LLCs owned entirely by people who live outside the US.
If you filed a BOI report in 2024 or early 2025, there is nothing more to do. You do not need to file updates when your owners or your address change.
What changed, and when
- January 1, 2024: BOI reporting under the Corporate Transparency Act began, and companies formed in the US were required to report.
- March 26, 2025: FinCEN published an interim final rule that removed the reporting requirement for all companies formed in the US and for their beneficial owners.
- August 14, 2026: FinCEN's final rule became effective. US-formed companies remain exempt.
Who still has to file
BOI reporting now applies only to foreign reporting companies. These are entities formed under the law of another country that have registered to do business in a US state or tribal jurisdiction.
- A foreign reporting company that registered on or after March 26, 2025 has 30 calendar days to file its initial BOI report after its registration becomes effective.
- It does not have to report any US persons as beneficial owners.
A UK LTD is only affected if it registers to do business in a US state.
Your other filings still apply
The BOI exemption does not change your other obligations. State requirements such as annual reports, franchise taxes and keeping a registered agent still apply. So do federal tax filings: a single-member LLC owned by a non-US person must still file Form 5472 with a pro forma Form 1120 with the IRS every year.
Where to check for changes
FinCEN publishes the current rules and any updates at fincen.gov/boi. This page is general information, not legal advice. If you are unsure whether a company must report, check FinCEN's page or ask a qualified adviser.