08/12/2026
Big news for small business owners: FinCEN just permanently eliminated the Corporate Transparency Act's beneficial ownership reporting (BOI) requirement for U.S. companies and U.S. persons. If you already filed a BOI report, no further action is needed — FinCEN is deleting that previously submitted information from its database. If you never filed, you don't need to.
We were never fans of this requirement, and we're glad to see it gone for good. Read our full breakdown of what this means for your business on the blog: https://coltranegrubbs.com/fincen-permanently-ends-beneficial-ownership-reporting-for-u-s-small-businesses/