Do I still need to file a BOI report?
Probably not. Under FinCEN's final rule, effective August 14, 2026, companies created in the United States and US persons are exempt from BOI reporting. Only companies formed under foreign law and registered to do business in a US state or tribal jurisdiction must report, within 30 days of notice of registration, and only their non-US beneficial owners.
Check your company
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Your result
Answer the questions to see whether your company must file a BOI report.
Email me my result + a US compliance checklist
We'll send your BOI result and a short checklist of other US filings that often apply to foreign-owned companies.
What changed?
| Date | What happened |
|---|---|
| March 26, 2025 | FinCEN interim final rule published (FR Doc. 2025-05199). It narrowed "reporting company" to entities formed under foreign law and registered to do business in a US state or tribal jurisdiction, and exempted US companies and US persons. Source |
| April 25, 2025 | Filing deadline for foreign reporting companies registered in the US before March 26, 2025. Source |
| August 11, 2026 | FinCEN announces the final rule that permanently ends BOI reporting for US companies and US persons and says it will delete previously reported US-person information. Source |
| August 14, 2026 | Final rule published and effective (91 FR 52508, FR Doc. 2026-16576). It adopts the interim final rule with limited changes: only foreign-formed entities registered in the US report, and only their non-US-person beneficial owners. Source |
The Corporate Transparency Act itself was not repealed. The exemption for US companies and US persons comes from FinCEN's regulation (31 CFR 1010.380).
The 23 exemptions
A foreign company registered in the US is not a reporting company if it fits one of these exemptions. The short descriptions are plain-English summaries. The exact conditions are in 31 CFR 1010.380(c)(2).
| # | Exemption | In short | Citation |
|---|---|---|---|
| 1 | Securities reporting issuer | Issuers of securities registered with the SEC or required to file reports under the Securities Exchange Act (for example, publicly traded companies). | §1010.380(c)(2)(i) |
| 2 | Governmental authority | Entities established under US, state, tribal or local law that exercise governmental authority. | §1010.380(c)(2)(ii) |
| 3 | Bank | Banks as defined in the federal banking and investment laws the regulation cites. | §1010.380(c)(2)(iii) |
| 4 | Credit union | Federal or state credit unions. | §1010.380(c)(2)(iv) |
| 5 | Depository institution holding company | Bank holding companies and savings and loan holding companies. | §1010.380(c)(2)(v) |
| 6 | Money services business | Money transmitting businesses and money services businesses registered with FinCEN. | §1010.380(c)(2)(vi) |
| 7 | Broker or dealer in securities | Securities brokers or dealers registered with the SEC. | §1010.380(c)(2)(vii) |
| 8 | Securities exchange or clearing agency | Registered securities exchanges and clearing agencies. | §1010.380(c)(2)(viii) |
| 9 | Other Exchange Act registered entity | Other entities registered with the SEC under the Securities Exchange Act. | §1010.380(c)(2)(ix) |
| 10 | Investment company or investment adviser | SEC-registered investment companies and investment advisers. | §1010.380(c)(2)(x) |
| 11 | Venture capital fund adviser | Venture capital fund advisers that meet the regulation's SEC filing condition. | §1010.380(c)(2)(xi) |
| 12 | Insurance company | Insurance companies as defined in the Investment Company Act. | §1010.380(c)(2)(xii) |
| 13 | State-licensed insurance producer | Insurance producers authorized by a state that meet the regulation's US office condition. | §1010.380(c)(2)(xiii) |
| 14 | Commodity Exchange Act registered entity | Entities registered with the CFTC under the Commodity Exchange Act. | §1010.380(c)(2)(xiv) |
| 15 | Accounting firm | Public accounting firms registered with the PCAOB under the Sarbanes-Oxley Act. | §1010.380(c)(2)(xv) |
| 16 | Public utility | Regulated public utilities that provide telecommunications, electric, gas or water services. | §1010.380(c)(2)(xvi) |
| 17 | Financial market utility | Financial market utilities designated by the Financial Stability Oversight Council. | §1010.380(c)(2)(xvii) |
| 18 | Pooled investment vehicle | Pooled investment vehicles operated or advised by certain exempt entities. | §1010.380(c)(2)(xviii) |
| 19 | Tax-exempt entity | IRC section 501(c) organizations, political organizations and certain trusts. | §1010.380(c)(2)(xix) |
| 20 | Entity assisting a tax-exempt entity | Entities that operate exclusively to provide financial help to, or hold governance rights over, tax-exempt entities. | §1010.380(c)(2)(xx) |
| 21 | Large operating company | Companies that meet the regulation's US employee, US physical office and US gross-receipts tests. | §1010.380(c)(2)(xxi) |
| 22 | Subsidiary of certain exempt entities | Entities controlled or wholly owned by certain other exempt entities. | §1010.380(c)(2)(xxii) |
| 23 | Inactive entity | Older entities with no active business, no foreign ownership and no significant assets or money movements, as the regulation defines. | §1010.380(c)(2)(xxiii) |
Old letters and scams
- FinCEN says correspondence that references a "Form 4022" or "Form 5102" is fraudulent.
- FinCEN says there is no fee to file BOI directly with FinCEN.
If you get a letter or email about BOI that asks for payment, check it against FinCEN's BOI page and FinCEN's scam alert.
How does the BOI reporting checker work?
The checker follows the definition of "reporting company" in 31 CFR 1010.380(c) as amended by FinCEN's final rule (91 FR 52508, FR Doc. 2026-16576):
- Where was it created? An entity created in the United States is exempt. The answer is "No BOI report" whoever owns it.
- Foreign company: is it registered in the US? A company formed under foreign law is a reporting company only if it is registered to do business in a US state or tribal jurisdiction. If not, there is nothing to file.
- Does an exemption apply? If one of the 23 exemptions in §1010.380(c)(2) applies, it is not a reporting company.
- Deadline. Due date = notice date + 30 calendar days. The notice date is the earlier of actual notice that the registration is effective or public notice by the state. Companies registered before March 26, 2025 had a fixed deadline of April 25, 2025.
- What is reported. The company's information and its beneficial owners who are not US persons. US-person beneficial owners and US-person company applicants are not reported.
What the checker cannot know: whether the company really meets every condition of an exemption, or the exact date it received notice of registration. It also cannot tell whether an owner is a "US person" in borderline cases. Treat the result as a starting point.
Worked examples
Results as of September 23, 2026, computed with this checker.
| Situation | Result | Initial report due |
|---|---|---|
| LLC formed in a US state, owned by one non-US individual | No BOI report (check Form 5472 instead) | — |
| Company formed abroad, registered to do business in a US state; notice of effective registration received September 10, 2026; no exemption applies | BOI report required (foreign beneficial owners only) | October 10, 2026 (September 10, 2026 + 30 days) |
| Company formed abroad that sells online to US customers but has not registered in any US state | No BOI report (not a reporting company) | — |
These examples are generated by running this calculator's own code with the figures on this page, so they always match what the tool shows.
Frequently asked questions
Does my US LLC still need to file a BOI report?
No. Under the current rule, every company created in the United States, including LLCs and corporations formed with a US secretary of state, is exempt from BOI reporting. That covers initial reports, updates and corrections. FinCEN's final rule took effect on August 14, 2026.
I'm a non-US owner of a US LLC. Do I need to file BOI?
No. The exemption depends on where the company was created, not on who owns it. A US-formed LLC is exempt even if all its owners live abroad. Foreign-owned single-member LLCs often have an IRS filing instead: Form 5472 with a pro forma Form 1120. Check if Form 5472 applies.
My company was formed abroad and registered in a US state. When is the BOI report due?
Within 30 calendar days after the company gets notice that its registration is effective, or after the state gives public notice, if that is earlier (31 CFR 1010.380(a)(1)(i)). Companies that were registered before March 26, 2025 had to file by April 25, 2025.
Does a foreign reporting company have to report its US owners?
No. Under the current rule, reporting companies do not report beneficial owners who are US persons, or US-person company applicants. They report only non-US beneficial owners.
We filed a BOI report in 2024. Do we need to update or withdraw it?
If the company was created in the US, no. US companies do not file updates or corrections, and US persons do not need to update FinCEN ID information. FinCEN has said it will delete previously reported information of US persons.
Is a letter about "Form 4022" or a BOI filing fee real?
FinCEN warns that correspondence referencing a "Form 4022" or "Form 5102" is fraudulent, and that there is no fee to file BOI directly with FinCEN. See FinCEN's BOI page.
Was the Corporate Transparency Act repealed?
No. The statute (31 U.S.C. 5336) is still law. FinCEN narrowed who must report through its regulation, first in an interim final rule and then in the final rule. Future changes would come from new rules or new legislation.
Disclaimer: This tool provides general estimates for educational purposes and is not tax, legal or accounting advice. Results depend on facts not captured here. Consult a qualified professional before acting.
Sources
- federalregister.gov: https://www.federalregister.gov/documents/2026/08/14/2026-16576/beneficial-ownership-information-reporting-requirement-revision
- fincen.gov: https://www.fincen.gov/boi
- ecfr.gov: https://www.ecfr.gov/current/title-31/section-1010.380
- FinCEN BOI FAQs (list of 23 exemptions): https://www.fincen.gov/boi-faqs
- FinCEN news release, final rule announcement: https://www.fincen.gov/news/news-releases/fincen-permanently-ends-beneficial-ownership-reporting-requirements-millions
- Interim final rule (Federal Register): https://www.federalregister.gov/documents/2025/03/26/2025-05199/beneficial-ownership-information-reporting-requirement-revision-and-deadline-extension
- FinCEN scam alert: https://www.fincen.gov/system/files/2024-12/Alert-FinCEN-Scams-FINAL508.pdf
