FinCEN (Corporate Transparency Act, 31 CFR 1010.380)
FinCEN Beneficial Ownership Information (BOI) Report
A report identifying a company's beneficial owners, required under the Corporate Transparency Act. The rule was drastically narrowed by FinCEN's interim final rule published March 26, 2025.
Not legal or tax advice. Compliance Radar is an informational directory.
This is general information, not legal or tax advice. Deadlines and penalties change and depend on your specific facts — verify with the official source and a licensed CPA or attorney before acting.
We surface only obligations we can anchor to an official government source, each with the
date we last verified it. Sources change; always confirm against the linked official page.
- What it is
- A report identifying a company's beneficial owners, required under the Corporate Transparency Act. The rule was drastically narrowed by FinCEN's interim final rule published March 26, 2025.
- Who must file
- As of 2026, ONLY 'foreign reporting companies' — entities formed under the law of a foreign country that have registered to do business in a US state or tribal jurisdiction. Domestic (US-formed) companies are now EXEMPT, and foreign reporting companies are not required to report any US persons as beneficial owners. (This reverses the original requirement that nearly all US LLCs/corporations file.)
- Deadline
- Foreign reporting companies: within 30 calendar days of registration becoming effective (entities already registered before March 26, 2025 had an earlier 2025 deadline that has now passed). Confirm your specific deadline directly on fincen.gov/boi.
- Penalty if missed
- Willful violations: civil penalty up to $591/day (inflation-adjusted) and criminal penalties up to a $10,000 fine and/or up to 2 years imprisonment.
- Notes
- MAJOR 2025 CHANGE: domestic US companies are exempt as of the March 26, 2025 interim final rule. Many older guides still incorrectly say all US LLCs must file. A subsequent final rule could further change deadlines — verify the current rule on the official page before acting.
- Official source
- FinCEN — Beneficial Ownership Information — verified as of 2026-06-22