Big news for small business owners and U.S.-based entities: As of March 21, 2025, the BOI (Beneficial Ownership Information) filing requirement no longer applies to U.S. companies or U.S. persons under the Corporate Transparency Act (CTA).
The Treasury Department and FinCEN issued a new rule that officially narrows the BOI requirement to foreign entities only. Here’s what you need to know:
✅ U.S.-based businesses are no longer considered “reporting companies” under the CTA.
✅ U.S. persons no longer need to report their ownership info to FinCEN.
✅ Foreign entities that do business in the U.S. are still required to file — but now have 30 days to do so after registration.
✅ Foreign entities already registered before March 21 have a 30-day extension from the original deadline.
This is great news for our U.S.-based clients who were concerned about compliance with the new rules!
Have questions about whether this change affects your business? Reach out — we’re happy to help clarify.
Still need to file? Fill out our form here: https://form.jotform.com/Charles_Lauryn/boi-fincen-filing
