BOI Reporting Compliance Checker 2026
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FinCEN's final rule of August 11, 2026 (adopting its March 2025 interim 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 up to 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.
⚠️ 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
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.
Check the exemption categories
If you are a foreign-formed entity, work through the 23 exemption categories. Large operating companies (more than 20 employees, more than $5M revenue, physical US presence), SEC registrants, banks, and 20 others are exempt.
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. Under the August 2026 final rule, US persons are exempt, so you report only your non-US beneficial owners.
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 final rule of August 11, 2026 (effective August 14, 2026, adopting its March 2025 interim rule) 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.
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 three non-US shareholders each owning 30% would report all three. A company with a non-US CEO and CFO who own no equity but have substantial control must report both. Beneficial owners who are US persons are exempt from reporting under the August 2026 final rule.
What Information Must Be Filed?
For each beneficial owner who is not a US person, a foreign reporting company must report: full legal name, date of birth, residential address (not business address), and a unique identifying number from a state driver's license or a foreign passport, plus an image of the identifying document. For foreign companies that registered in the US on or after March 26, 2025, the same information is reported for each company applicant who is not a US person (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 can advise on complex ownership structures, multiple equity tiers, or unclear "substantial control" situations. Registered agent services 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. At that point all US-formed and foreign-formed entities registered in the US were 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.
- New foreign entities, post March 26, 2025: 30-day window. Any foreign company registered in a US state on or after March 26, 2025 must file within 30 calendar days of the state approving the registration.
- 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.
- August 11, 2026: final rule. FinCEN adopted the interim rule as final, effective August 14, 2026. It also exempts reporting companies from reporting US person beneficial owners and US person company applicants.
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 Type | BOI Required? | Key Threshold | 2026 Notes |
|---|---|---|---|
| Single-Member LLC | Exempt | N/A | Exempt since FinCEN's March 26, 2025 interim final rule, made final on August 11, 2026. No BOI filing required. |
| Multi-Member LLC | Exempt | N/A | Exempt since March 26, 2025. All US-formed LLCs regardless of member count. |
| S-Corporation | Exempt | N/A | Exempt since March 26, 2025. S-Corp election status has no effect on exemption. |
| C-Corporation | Exempt | N/A | Exempt since March 26, 2025. Both private and public C-Corps formed in the US are exempt. |
| General Partnership / LLP (US) | Exempt | N/A | Registered LLPs formed in a US state are also exempt under the March 2025 rule. |
| Non-Profit (501c3) | Exempt | N/A | Doubly exempt: US-formed entities are exempt AND 501(c) organizations are separately exempt. |
| Sole Proprietorship | Exempt | N/A | Never required to file: sole proprietorships are not "reporting companies" under the CTA. |
| Foreign Company (US-registered) | May be required | 30 days from US registration, unless a listed/large-company/regulated exemption applies | Only foreign-formed companies registered with a US secretary of state may still need to file. Use the checker above. |
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 / Law | Status | Applies To | 2026 Notes |
|---|---|---|---|
| California: CCPA/CPRA | Live since Jan 2020/2023 | $26.6M+ revenue or 100k+ consumers | Delete Act enforcement begins; data broker registry required, $6,000/yr fee |
| Virginia: VCDPA | Live since Jan 2023 | 100k consumers/year | Expanded enforcement guidance; opt-out required for targeted advertising/profiling |
| Colorado: CPA | Live since Jul 2023 | 100k consumers/year | Right to cure expired Jan 2025; full enforcement, no cure period |
| Texas: TDPSA | Live since Jul 2024 | No revenue minimum | First enforcement actions expected; AG fines up to $7,500/violation |
| Florida: FDBR | Live (partial) since Jul 2024 | $1B+ revenue controllers | High threshold limits scope; broader bill proposed |
| New York: NYPPA | Pending, legislature review | Proposed private right of action | Strictest proposed law; est. effective 2026–2027 if passed |
| Montana: MCDPA | Live since Oct 2024 | 25k+ 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) | Live | Processing EU resident data | AI Act enforcement begins Aug 2026; max fine €20M or 4% global turnover |
Frequently Asked Questions
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: