FinCEN Issues Rule Limiting BOI Filing for U.S. Companies and U.S. Owners of Foreign Companies

On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury Department issued an “interim final rule” (press release and rule) eliminating the reporting requirements of beneficial ownership information (BOI) under the Corporate Transparency Act by exempting entirely companies established under the laws of U.S. states, and, with respect to foreign companies registered to do business in the United States, exempting the reporting of BOI information on U.S. owners. Comments on the new rule are not invited before it is published (and therefore implemented), but within 60 days of the publication of the rule.