FinCEN final rule expands U.S. person exemptions under the Corporate Transparency Act
Effective Aug. 14, 2026, the rule relieves reporting companies and U.S. persons from most beneficial ownership reporting and update duties.
FinCEN issued a final rule, effective August 14, 2026 (FR Doc No. 2026-16576, RIN 1506-AB67), that revises the Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA). The rule applies to all reporting companies subject to 31 CFR Part 1010 and to U.S. persons who would otherwise be required to furnish BOI.
Under the final rule, reporting companies are no longer required to report the BOI of U.S. person beneficial owners, and U.S. person beneficial owners are not required to provide BOI to reporting companies. The rule also exempts reporting companies from submitting BOI about U.S. person company applicants, and exempts those U.S. person applicants from any obligation to provide such information.
In addition, the rule eliminates the requirement for any U.S. person to update information previously supplied to FinCEN in connection with obtaining a FinCEN identifier (FinCEN ID).
The final rule adopts the interim final rule issued on March 26, 2025, with limited changes, and supersedes the earlier reporting obligations that had been in place since the original Reporting Rule became effective on January 1, 2024. For further information, inquiries may be submitted to FinCEN's Regulatory Support Section via www.fincen.gov/contact.