On August 11, 2026, FinCEN issued its final rule under the Corporate Transparency Act; it was published in the Federal Register on August 14 and took effect on publication. The rule makes the interim approach of March 2025 permanent: a "reporting company" is only an entity formed under foreign law and registered to do business in a US state or tribal jurisdiction.
Companies formed in the US and US citizens or residents are fully exempt, including as beneficial owners or company applicants of foreign companies. Foreign reporting companies must still disclose their non-US owners. FinCEN also said it will delete the data previously filed by US companies and US persons.
What hasn't changed
Banks and EMIs still collect beneficial ownership details under their own KYC/CDD rules, so the end of BOI does not remove the questionnaire when you open an account. If you register an existing foreign company in a state (for example, a Kazakh LLP as a foreign entity), the report is still required.
Not legal or tax advice. Rules change, so check primary sources or ask a qualified advisor before you decide.
