Is BOI Reporting Still Required in 2026?

Updated October 2026 to reflect FinCEN’s final rule.

On August 11, 2026, FinCEN issued a final rule that permanently exempts companies formed in the United States from BOI reporting. The rule took effect on August 14, 2026.

For most businesses, no. If your company was formed in the United States, you no longer need to file a Beneficial Ownership Information (BOI) report with FinCEN. Here’s what changed with BOI filing and who still needs to file.

Do you need to file a BOI report?

Where was your business formed?

No.

Businesses formed in the United States don’t need to file a BOI report. That includes corporations, LLCs, and partnerships. There is no filing to miss, so there is no penalty.

What changed with BOI reporting?

January 2024BOI reporting begins under the Corporate Transparency Act for most U.S. businesses.
March 26, 2025FinCEN publishes an interim final rule that removes BOI reporting for U.S. companies and their owners.
August 11, 2026FinCEN issues the final rule, effective August 14, 2026. U.S. companies stay exempt.

If you saw older news about BOIR deadlines in January 2025 or fines of $500 a day, those rules no longer apply to U.S. businesses. For the tax changes that do affect you, see the 2026 tax changes and our tax information page.

Who is exempt, and who needs to file a BOI report?

Here are the BOI reporting requirements for 2026, side by side. Not sure what type of business you have? The IRS explains each one in its guide to business structures.

Exempt from BOI reporting

Corporations formed in the U.S.
LLCs formed in the U.S., including single-member LLCs
Partnerships and other entities created by filing with a U.S. state
U.S. owners of any company

Still needs to file

Companies formed under the laws of another country (see the IRS page on international business)
That registered to do business in a U.S. state
Deadline: 30 calendar days after registration takes effect
No need to report owners who are U.S. persons

BOI reporting FAQs

Do I need to fill out a BOI report?

Not if your business was formed in the U.S. Only foreign companies registered to do business in a U.S. state still need to file.

Do LLCs need to file a BOI report?

No. LLCs formed in the U.S. are exempt, including single-member LLCs.

I already filed a BOI report. Do I need to do anything?

No. FinCEN says you don’t need to update or correct a report you already filed.

Will I get a penalty for not filing?

Not if your business was formed in the U.S. U.S. companies are exempt, so there is no filing to miss.

What is a BOIR?

BOIR is short for Beneficial Ownership Information Report. It’s the same thing as a BOI report.

What if my business was formed outside the U.S.?

You may still need to file within 30 calendar days after your U.S. registration takes effect. Contact us and we’ll review your setup.

Questions about BOI filing?

Not sure how your business was set up? Moon Valley Accounting & Tax Services in Phoenix will review it with you and tell you if anything needs to be filed. We also handle business tax returns, bookkeeping, and payroll.

Source: FinCEN.gov, Beneficial Ownership Information Reporting. Last updated October 2026.