Glossary
BOI report (beneficial ownership)
The FinCEN report of a company's beneficial owners under the Corporate Transparency Act. Since March 2025, domestic US companies are exempt; foreign companies registered to do business in the US still file.
The original rule required nearly every LLC and corporation to report its owners to FinCEN. After litigation, FinCEN's interim final rule of March 2025 removed the requirement for entities formed in the US and for US persons as beneficial owners. What remains is a requirement for entities formed under foreign law that have registered to do business in a US state.
A Wyoming or Delaware LLC owned by a non-US person is a domestic US entity and is currently exempt. A UK or Indian company registered as a foreign entity in a state is not. The rule has changed twice; check the current position before relying on either answer.
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