U.S. Treasury Department’s FinCEN Permanently Ends Beneficial Ownership Information Reporting Requirements for U.S. Companies and U.S. Persons

In a final rule that became effective on August 14, 2026, the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) permanently removed the beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act for U.S. individuals and U.S. companies. FinCEN also announced that they will delete from the database all previously reported information about U.S. persons. Under the final rule, foreign entities that are reporting companies will still be required to report beneficial ownership information for foreign individuals.

More details can be found in the links below. Please reach out to the Woods Rogers’ Corporate & Business Transactions attorneys or Woods Rogers Business Services professionals if you have questions or would like to discuss further.

• Treasury Press Release
• Final Rule