08/11/2026
Heads up! FinCEN (FINALLY!) just issued its final rule permanently ending Beneficial Ownership Information reporting for all U.S. businesses. Only foreign entities must report their foreign individual owners moving forward.
If you remember, this compliance requirement was put in place pursuant to the Corporate Transparency Act and required compliance by 2024. FinCEN, under the new administration, suspended the reporting requirement for all U.S. businesses in 2025 amid several turbulent back and forth court rulings. FinCEN was to issue the final ruling sometime last year, but issued the final rule this afternoon.
All information submitted by U.S. businesses is to be deleted from the database.