On August 11, 2026, FinCEN issued a final rule that permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information to FinCEN under the Corporate Transparency Act. FinCEN also announced that it will delete previously reported information by U.S. persons from the beneficial ownership information database.
The final rule:
Adopts the exemptions set out in the interim final rule issued in March 2025, making the rollback of beneficial ownership reporting by U.S. companies permanent;
Exempts U.S. persons who have obtained FinCEN IDs from any obligation to update or correct the information they originally provided to FinCEN to obtain their FinCEN IDs;
Eliminates the requirement for foreign companies to report U.S. person “company applicants” (i.e., the individuals who helped those foreign companies register to do business in the United States);
Exempts foreign pooled investment vehicles registered in the United States from reporting the beneficial ownership information of a U.S person in control of the investment vehicle; and
Confirms that FinCEN will delete information about any individuals, including company applicants, beneficial owners, or recipients of a FinCEN ID, that FinCEN reasonably believes is a U.S. person (e.g., the information is linked to a U.S. passport or U.S. driver’s license).
FinCEN clarified that foreign entities that are reporting companies will still be required to report beneficial ownership information for foreign individuals.
In addition to the final rule, FinCEN has issued Frequently Asked Questions in anticipation of inquiries relating to the Beneficial Ownership Information Final Rule.
Read FinCEN’s press release here.
The final rule can be found here.
The FAQs can be found here.