(March 21, 2025) In line with prior announcements (see Treasury Halts Corporate Transparency Act Enforcement for U.S. Businesses), today FinCEN issued an interim final rule eliminating beneficial ownership information (BOI) reporting requirements for U.S. companies and U.S. persons under the Corporate Transparency Act. The rule redefines “reporting company” to include only foreign entities registered to do business in the U.S., thereby exempting all U.S.-formed entities.
Foreign reporting companies must still report BOI under revised deadlines but are not required to report U.S. beneficial owners. FinCEN is accepting public comments and plans to finalize the rule later this year.
The rule took effect upon publication.
For more details, visit FinCEN Removes Beneficial Ownership Reporting Requirements for U.S. Companies and U.S. Persons, Sets New Deadlines for Foreign Companies.
In addition, here is the Interim Final Rule in the Federal Registry.