BOI Reporting Compliance Checker 2026

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FinCEN's March 26, 2025 interim final rule exempted all US-formed entities from BOI reporting entirely. Only foreign-formed companies registered to do business in the US may still need to file. Answer 3 quick questions below to find out exactly where your company stands.

Quick answer: Since FinCEN's March 26, 2025 rule, every US-formed LLC, S-Corp, and C-Corp is exempt from BOI reporting, with no filing needed. Only foreign-formed companies registered to do business in a US state may still have to file, within 30 days of registration, or face penalties up to $606/day. Use the checker below to confirm your status.

🔍 BOI Risk Auditor Step 1 of 3
Step 1 of 3: Entity Formation
Where was your company formed (incorporated or organized)?
Select one to continue
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Assessing...

⚠️ This audit is for preliminary awareness only. BOI compliance depends on specific facts and ongoing litigation. Consult a business attorney for definitive advice.

How to Use the BOI Compliance Checker

1

Answer the entity formation question

Indicate whether your business was formed in the US (by filing with a US state) or is a foreign entity registered to do business in a US state. Since March 2025, all US-formed entities are fully exempt.

2

Check the exemption categories

If you are a foreign-formed entity, work through the 23 exemption categories. Large operating companies (20+ employees, $5M+ revenue, physical US presence), SEC registrants, banks, and 20 others are exempt.

3

Identify your beneficial owners

A beneficial owner is any individual who owns 25%+ of equity OR exercises substantial control. There is no minimum number; most small foreign-registered entities have 1–4 beneficial owners to report.

4

Confirm your filing window

Foreign reporting companies must file within 30 days of first registration in the US. Updates to any reported information must be filed within 30 days of the change. Filing is free at fincen.gov.

What Is the Corporate Transparency Act?

The Corporate Transparency Act (CTA), enacted January 1, 2021 and effective January 1, 2024, was designed to require most US businesses to report Beneficial Ownership Information (BOI) to FinCEN. FinCEN's March 26, 2025 interim final rule then removed all US-formed entities from the requirement entirely. As of 2026, only companies formed under the law of a foreign country and registered to do business in a US state remain in scope.

📢 2026 Litigation Status The CTA has faced extensive legal challenges, and courts have issued and lifted injunctions multiple times. FinCEN has issued guidance on current deadlines and enforcement priorities based on the March 2025 rule. Always verify the current status at fincen.gov/boi before acting.

Who Is a "Beneficial Owner"?

This section applies to foreign reporting companies. US-formed entities are fully exempt from BOI reporting.

A beneficial owner is any individual who, directly or indirectly, owns or controls 25% or more of the ownership interests of a reporting company, or exercises substantial control over it. FinCEN defines substantial control broadly: senior officers (CEO, CFO, COO, General Counsel, President) automatically qualify, as does anyone who can appoint or remove senior officers or direct important decisions about the company's finances, business, or structure.

There is no limit on the number of beneficial owners that must be reported. A company with 10 shareholders each owning 26% would need to report all 10. A company with a CEO and CFO who own no equity but have substantial control must report both.

What Information Must Be Filed?

For each beneficial owner, a foreign reporting company must report: full legal name, date of birth, residential address (not business address), and a unique identifying number from a US passport, state driver's license, or foreign passport (for non-US persons), plus an image of the identifying document. For foreign companies that registered in the US on or after March 26, 2025, the same information must also be reported for each company applicant (the individual who filed the US registration documents).

Individuals can apply for a FinCEN Identifier, a unique number used in place of full personal details on each filing, which is especially useful for beneficial owners with interests in multiple companies, since it lets them update their information once rather than in every company's filing.

How Is the BOI Report Filed?

Foreign reporting companies file electronically and for free at boiefiling.fincen.gov. There is no fee charged by FinCEN, and the report can be filed directly by the business owner or an authorized representative; no attorney or CPA is required, though consulting one is advisable for complex ownership structures. Any change to reported information (a new beneficial owner, a change of address, a new ID document) must be reported to FinCEN within 30 calendar days of the change; this is an ongoing obligation, not a one-time filing.

For businesses that do need professional help: a business formation attorney (typically $150–500/hour) can advise on complex ownership structures, multiple equity tiers, or unclear "substantial control" situations. Registered agent services (typically $50–300/year) track state filing requirements and can flag when an ownership or address change triggers a new 30-day update obligation. Neither is required to file a BOI report: FinCEN's own portal is free and most filings take under 20 minutes.

BOI Reporting Deadlines Timeline

  • January 1, 2024: CTA takes effect. The rule became effective; all US-formed and foreign-formed entities registered in the US were originally in scope.
  • March 26, 2025: US entities exempted. FinCEN issued its interim final rule exempting all US-formed entities from BOI reporting. Only foreign-formed companies registered in the US remain in scope. Existing foreign reporting companies had until April 25, 2025 to file.
  • 2025–2026: ongoing litigation and enforcement updates. Multiple federal court rulings have issued and vacated injunctions, and FinCEN has periodically updated compliance deadlines. Stay current at fincen.gov/boi.
  • New foreign entities, post March 26, 2025: 30-day window. Any foreign company registered in a US state on or after January 1, 2025 must file within 30 calendar days of the state approving the registration.

LLC vs S-Corp vs C-Corp: BOI Obligations (2026)

Every entity type has different BOI obligations. This table shows exactly what applies, including the key exemption thresholds for each structure.

Entity TypeBOI Required?Key Threshold2026 Notes
Single-Member LLCExemptN/AExempt since March 26, 2025 interim final rule. No BOI filing required.
Multi-Member LLCExemptN/AExempt since March 26, 2025. All US-formed LLCs regardless of member count.
S-CorporationExemptN/AExempt since March 26, 2025. S-Corp election status has no effect on exemption.
C-CorporationExemptN/AExempt since March 26, 2025. Both private and public C-Corps formed in the US are exempt.
General Partnership / LLP (US)ExemptN/ARegistered LLPs formed in a US state are also exempt under the March 2025 rule.
Non-Profit (501c3)ExemptN/ADoubly exempt: US-formed entities are exempt AND 501(c) organizations are separately exempt.
Sole ProprietorshipExemptN/ANever required to file: sole proprietorships are not "reporting companies" under the CTA.
Foreign Company (US-registered)May be required30 days from US registration, unless a listed/large-company/regulated exemption appliesOnly foreign-formed companies registered with a US secretary of state may still need to file. Use the checker above.
⚠️ The "Large Company" Exemption Trap For foreign reporting companies seeking the large-company exemption, all three criteria must be met simultaneously: (1) 20+ full-time US employees, (2) $5M+ gross receipts on the most recent US federal filing, and (3) a physical operating presence in the US. Missing even one criterion disqualifies the exemption. US-formed entities are not affected by this rule; they are fully exempt regardless of size.

US State Privacy Law Matrix (2026)

BOI operates at the federal level, but businesses handling consumer data must also navigate a patchwork of state privacy laws. Here is the 2026 status across major states, relevant background for any business weighing a broader compliance review alongside its BOI status.

State / LawStatusApplies To2026 Notes
California: CCPA/CPRALive since Jan 2020/2023$26.6M+ revenue or 100k+ consumersDelete Act enforcement begins; data broker registry required, $6,000/yr fee
Virginia: VCDPALive since Jan 2023100k consumers/yearExpanded enforcement guidance; opt-out required for targeted advertising/profiling
Colorado: CPALive since Jul 2023100k consumers/yearRight to cure expired Jan 2025; full enforcement, no cure period
Texas: TDPSALive since Jul 2024No revenue minimumFirst enforcement actions expected; AG fines up to $7,500/violation
Florida: FDBRLive (partial) since Jul 2024$1B+ revenue controllersHigh threshold limits scope; broader bill proposed
New York: NYPPAPending, legislature reviewProposed private right of actionStrictest proposed law; est. effective 2026–2027 if passed
Montana: MCDPALive since Oct 202425k+ consumers/year (15k+ if 25%+ revenue from data sales)Threshold lowered by SB 297 (Oct 2025); cure period eliminated; fines up to $7,500/violation
EU: GDPR (applies to US firms)LiveProcessing EU resident dataAI Act enforcement begins Aug 2026; max fine €20M or 4% global turnover
⚠️ Disclaimer This tool provides general educational information about FinCEN Beneficial Ownership Information reporting requirements and is not legal advice. BOI rules have been subject to ongoing litigation and injunctions; always verify your entity's current filing obligation directly at FinCEN.gov or consult a qualified attorney before relying on this result.

Frequently Asked Questions

Since FinCEN's March 26, 2025 interim final rule, only companies formed under the law of a foreign country and registered to do business in a US state may still need to file. All US-formed LLCs, corporations, and similar entities are fully exempt, regardless of size.
No. FinCEN's March 26, 2025 interim final rule exempted every entity formed in the US, including single-member LLCs, from BOI reporting entirely. This applies regardless of the LLC's size, industry, or number of members. Only companies formed outside the US and registered to do business in a US state may still have a filing obligation.
Yes. FinCEN's March 26, 2025 interim final rule exempted all US-formed entities, including LLCs, S-Corps, and C-Corps, from BOI reporting. This rule has been subject to ongoing litigation. Always check FinCEN.gov for the current status before relying on it.
Civil penalties for willful non-compliance are $606 per day (inflation-adjusted from the original $500/day). Criminal penalties include fines up to $10,000 and up to 2 years imprisonment for willful violations. These penalties apply only to foreign reporting companies still in scope.
For each beneficial owner (person owning 25%+ or with substantial control): full legal name, date of birth, residential address, and a government-issued ID number (passport or driver's license) plus an image of the ID document.

Sources & Methodology

This checker is based on the most current publicly available guidance directly from FinCEN, the federal agency that administers BOI reporting under the Corporate Transparency Act: