On August 11, 2026, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network issued a final rule that permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information to FinCEN under the Corporate Transparency Act. The rule became effective on August 14, 2026.
The final rule adopts the exemptions in FinCEN’s March 26, 2025 interim final rule and makes that rollback permanent. FinCEN also announced that it will delete previously reported information it reasonably identifies as belonging to a U.S. person—for example, records linked to a U.S. passport or driver’s license. FinCEN has said it will post a notice when that deletion process is complete. That notice has not been posted as of this writing, so clients should not assume every U.S.-person record is already gone.
The rule also:
- exempts U.S. persons who obtained FinCEN IDs from any duty to update or correct the information they originally provided;
- removes the requirement that foreign companies report U.S. person “company applicants” (the individuals who helped those companies register to do business in the United States); and
- exempts foreign pooled investment vehicles registered in the United States from reporting a U.S. person in control of the vehicle.
Foreign entities that remain reporting companies must still report beneficial ownership information for foreign individuals.
What this means for clients
- If you are a U.S. company or a U.S. person who was preparing or updating a BOI filing, that federal filing obligation is gone. Close the CTA workstream unless a foreign reporting company is still in the structure.
- If you already filed, you do not need to request deletion. FinCEN has said it will run a one-time removal of information it reasonably believes relates to U.S. persons, and will announce when that process is finished.
- Federal BOI relief does not erase other asks. State-level transparency rules, bank KYC and AML reviews, tax filings, and ordinary corporate-governance records still apply.
If your structure includes a foreign entity registered to do business in the United States, confirm whether that entity still has a filing duty and that any remaining report covers only foreign beneficial owners. For U.S.-only entities, the practical next step is to retire the CTA checklist, keep ordinary ownership records in order, and watch FinCEN.gov for the deletion notice.
Source: https://home.treasury.gov/news/press-releases/sb0603