BOI Reporting in 2026: US Companies Are Exempt — Here's What Actually Applies

TL;DR

• As of July 2026, US-formed companies (LLCs, corporations) are exempt from federal BOI reporting. If your company was formed in the United States, you generally do not file.
• Only foreign-formed entities registered to do business in the US still have a federal BOI filing obligation.
• Watch state-level rules: New York's LLC Transparency Act (effective January 1, 2026) creates its own disclosure requirement for LLCs formed or registered in New York.
• If you filed a BOI report before the change, no action is generally required.

What changed?

In March 2025, FinCEN issued an interim final rule that removed beneficial ownership information (BOI) reporting requirements for US companies and US persons under the Corporate Transparency Act. The obligation now applies only to foreign entities registered to do business in the US. A final rule locking this in has been under review in 2026 — the practical guidance as of July 2026 is unchanged: domestic companies are exempt.

Who still files?

Foreign-formed entities registered with a US state to do business. If that's you, the reporting requirement and its deadlines still apply, and the filing runs through FinCEN's BOI system.

The state-level catch

Exemption at the federal level doesn't mean zero obligations everywhere. New York's LLC Transparency Act took effect January 1, 2026 for LLCs formed or registered in New York, and other states may follow with their own regimes. If you operate entities in multiple states, this is worth a five-minute check with your advisor.

What should you do now?

1. US-formed and never filed? You're generally in the clear federally — no action needed.
2. Already filed? Generally nothing further is required.
3. Foreign entity registered in the US, or a New York LLC? Confirm your specific obligation and deadline.
4. Not sure which bucket you're in? That's exactly the kind of question we answer for free.

FAQ

Did the Corporate Transparency Act get repealed? No — the statute stands, but FinCEN's 2025 interim final rule narrowed who must report, exempting US-formed companies and US persons.

Could the federal requirement come back for US companies? The final rule has been in process during 2026. Any change would come with notice — and this page will be updated if it does.

I got a "file your BOI report" solicitation in the mail. Is it legit? Treat unsolicited BOI filing offers with suspicion. Many are paid-service solicitations for a filing most US companies no longer owe.

Does this affect my taxes? BOI reporting is a FinCEN disclosure, separate from tax filings. Nothing about your federal tax obligations changed with this rule.

Where do I check the current status? FinCEN's BOI page (fincen.gov/boi) is the primary source, and we track changes through our monthly freshness review.

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Reviewed by the WAYG tax team · Updated July 2026