What FinCEN's page says
This section reports what the FinCEN page at fincen.gov/boi says as of October 17, 2026. We are not the agency, and rules can change, so always read the page itself.
- FinCEN finalized its BOI reporting rule on August 11, 2026, and the page links the Federal Register document number 2026-16576.
- The final rule became effective on August 14, 2026.
- It makes permanent the exemptions that FinCEN first adopted in an interim final rule, announced March 21, 2025 and published March 26, 2025.
- Under the final rule, US companies are exempt from BOI reporting and no longer have to file BOI reports.
Who is a reporting company now
FinCEN describes "reporting company" as an entity formed under the law of a foreign country that has registered to do business in a US state or tribal jurisdiction, unless it qualifies for another exemption. Entities created in the US, including former "domestic reporting companies", and their beneficial owners are exempt. Reporting companies do not have to report BOI for US person beneficial owners or US person company applicants, and US persons do not have to give BOI to reporting companies.
What this means for a US LLC
A US-formed LLC or corporation, such as the ones we form, is not a reporting company under this rule. If you previously filed a report, FinCEN says US persons with a FinCEN ID do not have to update or correct previously submitted information.
What still applies
- Foreign entities registered in the US. If a foreign-formed company registers to do business in a state, it may be a reporting company. FinCEN's page described the deadlines under the interim rule: companies registered before March 26, 2025 had to file by April 25, 2025, and companies registered on or after that date have 30 calendar days after receiving notice that registration is effective. We did not read the final rule's text for any change to those deadlines, so check the FinCEN page and the rule before you act.
- Penalties and scams. FinCEN's page says there is no fee to file BOI and that it does not send initial penalty correspondence by email or phone.
- State requirements are separate. A federal exemption does not decide what your state may require from LLCs registered there, so check your state's Secretary of State.
What the earlier rule said
Before March 2025, many US-formed LLCs and corporations had to report. The interim rule changed that, and the final rule confirmed it. If you saw older advice that every LLC must file a BOI report, it is outdated.
What to do now
- Do not pay anyone to file a BOI report for a US-formed LLC without first reading FinCEN's page.
- Keep your formation and ownership records in order anyway, because banks and states may ask for them.
- If you own a company formed abroad that registers in a US state, ask a licensed attorney whether the reporting rule applies.
Next step
Ready to form yours? Start your LLC with Coral Filings and we handle the state filing, the registered agent and the EIN request. Want to compare filing fees first? Open the state fees hub for all 50 states and D.C.
Frequently asked questions
Does my US LLC have to file a BOI report?
According to FinCEN's page, as of October 17, 2026, US companies are exempt under the final rule effective August 14, 2026. Read the page for updates.
I already filed a BOI report. Do I need to update it?
FinCEN says US persons with a FinCEN ID are not required to update or correct previously submitted information.
Which companies still have to report?
Entities formed under foreign law that registered to do business in a US state or tribal jurisdiction, unless exempt, according to FinCEN.
Does FinCEN charge a fee to file?
No. FinCEN's page says there is no fee to file BOI.
Can my state still require ownership disclosure?
State rules are separate from the federal rule. Check your state's Secretary of State.
This page is general information, not legal or tax advice. For your specific situation, talk to a licensed attorney or CPA.