Keeping the company in good standing · A term for founders abroad
What is a beneficial ownership report?
BOI. The FinCEN filing that named a company's owners under the Corporate Transparency Act, permanently ended for US-formed companies in August 2026.
Checked against the IRS's instructions and the states' own rules. Reviewed by Saais Patel, compliance reviewer.
Term 11 of 105 in the glossary, filed under B.FinCEN: beneficial ownership information
Beneficial ownership report, for a founder abroad.
The Corporate Transparency Act required companies to report their beneficial owners to FinCEN from 2024. In March 2025, FinCEN exempted every company formed in the US by interim rule. A final rule issued on 11 August 2026 made that permanent from 14 August. In FinCEN's words, US companies are no longer required to file BOI reports.
Only companies formed abroad and registered to do business in a US state still report, within 30 days of their registration taking effect. A new Wyoming or Delaware company owes no BOI report, whoever owns it. A provider still selling one is selling a filing you don't owe.
Sources: FinCEN: beneficial ownership information.
Read next · guide · 2 minBeneficial ownership reporting in 2026: what a US-formed company owes FinCENWhat founders ask next.
- Does a foreign-owned US LLC have to file a BOI report?
- No. A company formed in the US is exempt wherever its owners live.
- I filed a BOI report in 2024. Do I need to update it?
- No. The exemption removes the duty to file, update or correct a report for US-formed companies.
- Do banks still ask who owns my company?
- Yes. Banks identify owners of 25% or more under separate rules, which is why Mercury asks for each owner's passport. That's unaffected by the end of BOI reporting.
03 · See also
- Keeping the company in good standingFinCENThe US Treasury's Financial Crimes Enforcement Network, which ran beneficial ownership reporting, receives the FBAR and sets the rules banks follow.Read the term
- Keeping the company in good standingAnnual reportThe yearly filing a state requires to keep a company in good standing: $60 in Wyoming; a Delaware LLC files none and pays a yearly tax instead.Read the term
- Keeping the company in good standingWyoming annual report licence taxWyoming's yearly charge on an LLC: $60, or $0.0002 per dollar of Wyoming assets if more, due on the first day of the month it was formed in.Read the term
- Keeping the company in good standingDelaware annual LLC taxThe flat $400 tax every Delaware LLC pays by 1 June each year, raised from $300 in 2026; Delaware LLCs file no annual report.Read the term
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