FinCEN Permanently Ends Beneficial Ownership Reporting Requirements for U.S. Persons

                On August 11, 2026, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule that permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act.  The final rule is effective on its publication in the Federal Register.  FinCEN also announced that it will delete previously reported information by U.S. persons—now exempt from the reporting requirements—from the beneficial ownership information database.  Under the final rule, foreign entities that are reporting companies will still be required to report beneficial ownership information for foreign individuals.