The US Treasury’s Financial Crimes Enforcement Network has issued a final rule exempting US companies and US persons from beneficial ownership information reporting under the Corporate Transparency Act, while retaining reporting obligations for certain foreign entities.
The US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced on 11 August 2026 that it has issued a final rule permanently removing the requirement for US companies and US persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act (CTA).
The final rule takes effect upon publication in the Federal Register. FinCEN also said it will delete previously reported information relating to US persons who are now exempt from the reporting requirements.
The rule adopts the exemptions introduced through FinCEN’s March 2025 interim final rule, making the rollback of BOI reporting requirements for US companies permanent.
Under the final rule, US persons who have obtained FinCEN identification numbers (FinCEN IDs) will no longer be required to update or correct the information they originally submitted to obtain those IDs. The rule also removes the requirement for foreign reporting companies to report US person “company applicants”—individuals who assisted foreign companies in registering to conduct business in the United States.
In addition, foreign pooled investment vehicles registered in the US are exempted from reporting BOI relating to a US person who controls the investment vehicle.
FinCEN confirmed that it will delete information concerning individuals it reasonably believes to be US persons, including company applicants, beneficial owners and recipients of FinCEN IDs. This may include information associated with US identification documents such as passports or driver’s licenses.
The final rule does not eliminate BOI reporting obligations for all foreign entities. Foreign entities that qualify as reporting companies will continue to be required to report information concerning foreign individuals under the applicable requirements.
Treasury Secretary Scott Bessent said the measure would reduce the reporting burden on US businesses while maintaining national security protections.
Alongside the final rule, FinCEN issued updated frequently asked questions and said it will update its guidance on FinCEN.gov to reflect the changes.
