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2026 Update: Most U.S. Companies No Longer File a BOI Report
FinCEN’s interim final rule of March 26, 2025 removed federal BOI reporting for every company formed in the United States, and for all U.S. persons. Only companies formed under the law of another country and registered to do business in a U.S. state still file.
What This Means for You
If your company was formed in the United States, you are exempt — there is nothing to file with FinCEN. If your company was formed abroad and is registered to do business in a U.S. state, you are a foreign reporting company and you still must file.
How We Can Help
BOI Reporting Support: if you are a foreign reporting company and have not filed yet, we can complete and submit your report inside your 30-day window. If your company was formed in the United States, you have nothing to file.
Deadline
Foreign reporting companies file within 30 days of being registered to do business in a U.S. state. There is no longer one fixed federal date — your clock starts at registration.
30 days from registration
File within 30 days of registering in a U.S. state
What is the Corporate Transparency Act?
Passed by Congress in 2020, the Corporate Transparency Act (CTA) ensures greater business transparency by requiring companies to disclose Beneficial Ownership Information (BOI) to FinCEN.
- Federal BOI disclosure now applies only to companies formed under foreign law and registered to do business in a U.S. state
- The CTA authorizes FinCEN to collect BOI and disclose it to authorized government authorities and financial institutions
- The act aims to combat money laundering, tax fraud, and other illicit activities
The high cost of not filing BOIR on time
Costly fines
For companies that must still file, non-compliance can result in $500 per day, up to $10,000 in penalties.
Serious consequences
For those companies, failure to file may lead to up to two years in prison.
Damaged reputation
It can harm your business's credibility and trust with clients and partners.
Beneficial Ownership Information Report (BOIR)
Simplify compliance with expert BOI report filing — ensuring
your business meets FinCEN requirements effortlessly.
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What you get
- Full compliance with FinCEN requirements
- Hassle-free process from start to finish
- Updates for business changes
- Expert support and guidance
- Key deadline reminders
Get a free 30-minute consultation for your TAX or BOI questions
No form, no payment — just email boi@boirsubmissioncenter.com and we’ll reply with a time.
Murat Akcay, CFO and Financial Expert with Expertise in BOI Compliance
Murat serves as the Chief Financial Officer, bringing over 20 years of experience from Deloitte US and EY US
Trusted by Fortune 500 companies
Frequently Asked Questions
When does the Corporate Transparency Act become effective?
The Corporate Transparency Act took effect on January 1, 2024. On March 26, 2025, FinCEN narrowed it sharply: companies formed in the United States no longer file a BOI report.
What are the main requirements of the Corporate Transparency Act?
Only foreign reporting companies — entities formed under the law of another country and registered to do business in a U.S. state — report today. They identify the person who filed their U.S. registration, plus the individuals with significant control or ownership, known as beneficial owners.
Who qualifies as a ‘beneficial owner’ under the CTA?
A beneficial owner is someone who either owns 25% or more of a company or has significant authority over its decisions. Companies are required to provide detailed information about anyone fitting this description.
Who can view the beneficial ownership information?
Who is considered an applicant under the CTA?
An applicant is the person responsible for submitting the paperwork to establish or register a company. For foreign businesses, this refers to the individual managing the registration process. Up to two individuals may be listed as applicants.
What is a FinCEN Identifier, and who might need one?
A FinCEN Identifier is a unique ID individuals can apply for if they’re named in multiple BOI Reports. This identifier allows them to provide a single ID instead of repeating personal details across reports. It must be updated if their personal information changes.
Where can I get help with legal or tax questions?
Email boi@boirsubmissioncenter.com and we’ll set up your free 30-minute consultation — it covers tax as well as BOI questions, and there is no charge and no obligation to file anything. Please note that BOIR Submission Center is a filing service, not a law firm or a tax advisor, and does not provide legal or tax advice. For legal advice, speak to a qualified attorney.
Still required to file? Submit your BOI report today.
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