Corporate Transparency Act Update: FinCEN Finalizes BOI Rule

September 3, 2026  |  Carole Clark Isakson

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Rachel R. Schwankl, Paralegal, contributed to this article.

On August 11, 2026, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued a final rule which permanently removes the requirement for United States companies and United States persons to report beneficial ownership information (“BOI”) to FinCEN under the Corporate Transparency Act. The final rule became effective on August 14, 2026.

FinCEN also announced that it will delete previously reported information by U.S. persons—now exempt from the reporting requirements—from the beneficial ownership information database by working with the National Archives and Records Administration (NARA). When the deletion will occur is unclear.

Updated FAQs directly from FinCEN may be accessed here.

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