On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) under the Corporate Transparency Act (CTA). Foreign companies are still required to report their beneficial ownership information under this rule and must do so 30 days from the date of publication.
File your Beneficial Ownership Information reports accurately and securely with BizFilings’ filing solution.
Get started on your Beneficial Ownership filing today!
Complete an initial filing as well as updates every time company or owner information changes.
FAQs
-
What is a beneficial owner?The final FinCEN rule defines a beneficial owner as follows: “the term “beneficial owner,” with respect to a reporting company, means any individual who, directly or indirectly, either exercises substantial control over such reporting company or owns or controls at least 25 percent of the ownership interests of such reporting company.
-
Which types of organizations are considered reporting companies?Under the Corporate Transparency Act, domestic companies are not required to file Beneficial Ownership Information reports. A domestic reporting company is defined as an entity that is a corporation, LLC or other entity created by the filing of a document with a secretary of state or similar office under the laws of a state or Indian tribe. Foreign companies must file Beneficial Ownership Information reports to the Financial Crimes Enforcement Network (FinCEN) 30 days from the date of formation. A foreign reporting company is an entity that is a corporation, LLC, or other entity created under the law of a foreign country and registered to do business in any state or tribal jurisdiction by filing a document with a secretary of state or similar office under the law of a state or Indian tribe.
-
Do you need to file each time you begin doing business in a new state and register with a new Secretary of State?Foreign reporting companies only report information about which state was the first state where they registered to do business.
File your Beneficial Ownership Information report now, so you can get back to what matters most – growing your new business.
BizFilings is not a law firm and cannot provide legal advice, including providing advice as to whether any specific entity will be required to file a report. BizFilings cannot provide its own interpretation of the statute or FinCEN’s final report ruling, however many of the questions can be answered by referring to the text of the final rule, sections of which have been provided where appropriate. You can also direct questions to FinCEN. Questions can be submitted to FinCEN at www.fincen.gov/contact