Business License Guide

Guide for LLC owners

BOI Report Filing Guide: US Companies No Longer File, Foreign Companies Still Do

US-formed LLCs and corporations no longer file FinCEN BOI reports. Only foreign reporting companies file. See who files, what they report about non-US-person owners and applicants, how to use the FinCEN e-filing portal, and the 30-day timing.

Last verified: 2026-10-23 Official sources linked below

Time to complete

A foreign reporting company must file within 30 calendar days after its US registration takes effect.

Steps

5

Timing note

The 30-day timing comes from the March 2025 interim rule that the August 2026 final rule makes permanent. US-formed companies have no BOI deadline.

Before you start

What to know first

  • FinCEN issued a final rule on August 11, 2026, effective August 14, 2026. It makes permanent the March 2025 interim final rule. Under it, a US-formed company does not file a BOI report.
  • A 'reporting company' is now only an entity formed under the law of a foreign country that has registered to do business in a US state or tribal jurisdiction. FinCEN calls it a foreign reporting company.
  • Every entity created in the US is outside BOI reporting. That covers LLCs, corporations, PLLCs, series LLCs, holding companies, single-member LLCs, and dormant LLCs. These companies file no initial, updated, or corrected BOI report.
  • A foreign reporting company must report its beneficial owners who are not US persons. It must also report its company applicants who are not US persons. It does not report US persons in either role.
  • US persons do not need to update or correct a FinCEN ID.
  • The 23 statutory exemptions in the Corporate Transparency Act still exist. They matter only to foreign reporting companies.
  • The federal rule does not preempt state law. The New York LLC Transparency Act took effect January 1, 2026 and has its own beneficial ownership disclosure for LLCs. Check the New York Department of State (https://dos.ny.gov) for what applies to you.
  • A future FinCEN rulemaking could reinstate reporting for US companies.

Documents

What you'll need

  • Legal name of the foreign reporting company and any trade names or DBA names
  • Country of formation and the US state or tribal jurisdiction where it registered
  • Principal US business address and tax ID, or a foreign tax ID if it has no US tax ID
  • For each beneficial owner who is not a US person: full legal name, date of birth, residential address, and an identifying number from an acceptable document, or a FinCEN ID
  • For each beneficial owner who is not a US person: an image of the identifying document, unless a FinCEN ID is used
  • For each company applicant who is not a US person: the same identifying information as for a beneficial owner

Process

Step by step

  1. Check where your company was formed If a US state or tribal authority created your company, you do not file a BOI report. This holds for every US entity type, including single-member LLCs, multi-member LLCs, holding companies, series LLCs, PLLCs, and dormant LLCs. You can stop here. If a foreign country formed your company and it registered to do business in a US state or tribal jurisdiction, it is a foreign reporting company. Continue to step 2.
  2. Check the exemptions The 23 statutory exemptions in the Corporate Transparency Act still apply to foreign reporting companies. Review the exemption list on FinCEN's BOI page at fincen.gov/boi. A foreign company that fits one does not file.
  3. Identify non-US-person beneficial owners and applicants Report each beneficial owner who is not a US person. A beneficial owner owns or controls at least 25 percent of the company or exercises substantial control over it. Also report each company applicant who is not a US person. Do not report US persons in either role.
  4. Gather the required information Collect each reported person's legal name, date of birth, residential address, and identifying document number with an image. A FinCEN ID can replace this detail for a person who has one. Collect the company's name, jurisdiction, and principal US address.
  5. File through FinCEN's BOI e-filing portal Submit the report online at boiefiling.fincen.gov. No paper filing exists. FinCEN issues a confirmation after submission. Keep it with your company records.

Costs

What it costs

Item Amount Notes
FinCEN BOI e-filing (foreign reporting companies) $0 FinCEN charges no fee. Foreign reporting companies file through the BOI e-filing portal at boiefiling.fincen.gov.
Third-party filing help (optional) Varies Compliance firms offer assisted filing to foreign reporting companies. It is optional because the FinCEN portal is free.
US-formed companies $0 No BOI filing exists for a US-formed company, so no fee applies.

FAQ

Common questions

Does my US LLC need to file a BOI report?

No. Since FinCEN's final rule took effect on August 14, 2026, a company formed in the US does not file a BOI report. This covers single-member LLCs, multi-member LLCs, holding LLCs, series LLCs, PLLCs, and dormant LLCs. Only foreign reporting companies file. Check the New York Department of State if your LLC is in New York, because a state law there has its own disclosure.

Who still has to file a BOI report?

Only a foreign reporting company must file. That is an entity formed under the law of a foreign country that registered to do business in a US state or tribal jurisdiction. It must file within 30 calendar days after its US registration takes effect, unless one of the 23 statutory exemptions applies.

What does a foreign reporting company report?

It reports its beneficial owners who are not US persons and its company applicants who are not US persons. It does not report US persons as owners or as company applicants. Each reported person needs a name, date of birth, address, and an identifying document number, or a FinCEN ID.

Where does a foreign reporting company file?

It files online through FinCEN's BOI e-filing portal at boiefiling.fincen.gov. FinCEN charges no fee. Paper filing is not available.

Do I need to update or correct my FinCEN ID?

No. US persons do not need to update or correct a FinCEN ID. FinCEN has said it will delete the BOI that US companies and US persons already reported.

Can the rule change again?

Yes. A future FinCEN rulemaking could reinstate reporting for US companies. Check fincen.gov/boi for the current rule.

Provenance

Legal basis & official sources

Last verified 2026-10-23.

Corporate Transparency Act, 31 U.S.C. 5336. FinCEN final rule issued August 11, 2026 and effective August 14, 2026, which makes permanent the March 2025 interim final rule and limits 'reporting company' to foreign reporting companies. Reporting rules appear in 31 C.F.R. 1010.380. See https://www.fincen.gov/boi for the Federal Register notice.

Direct filing portal: https://boiefiling.fincen.gov/

If you skip this

  • Foreign reporting companies that must file and do not face a daily civil penalty under 31 U.S.C. 5336, adjusted for inflation each year. See FinCEN for the current amount.
  • Possible criminal penalties apply to willful violations by a foreign reporting company that must file.
  • Senior officers and owners who willfully cause a foreign reporting company to skip a required filing or to submit false information can face personal liability.
  • A US-formed company faces no BOI penalty because it has no BOI filing duty.

Official sources

§ A Related guides

§ B Building permits

§ C Companion tools

Disclaimer: Informational only, not legal or tax advice. Rules change, so confirm with a business attorney or CPA before you act.