{"id":8034,"date":"2026-09-03T09:00:00","date_gmt":"2026-09-03T14:00:00","guid":{"rendered":"https:\/\/www.bgs.com\/blog\/?p=8034"},"modified":"2026-08-27T14:15:16","modified_gmt":"2026-08-27T19:15:16","slug":"corporate-transparency-act-update-fincen-finalizes-boi-rule","status":"publish","type":"post","link":"https:\/\/www.bgs.com\/blog\/2026\/09\/03\/corporate-transparency-act-update-fincen-finalizes-boi-rule\/","title":{"rendered":"Corporate Transparency Act Update: FinCEN Finalizes BOI Rule"},"content":{"rendered":"\n

<image generated by AI><\/p>\n\n\n\n

Rachel R. Schwankl, Paralegal, contributed to this article.<\/p>\n\n\n\n

On August 11, 2026, the U.S. Department of the Treasury\u2019s Financial Crimes Enforcement Network (\u201cFinCEN\u201d) issued a final rule<\/a> which permanently removes the requirement for United States companies and United States persons to report beneficial ownership information (\u201cBOI<\/a>\u201d) to FinCEN under the Corporate Transparency Act. The final rule became effective on August 14, 2026.<\/p>\n\n\n\n

FinCEN also announced that it will delete previously reported information by U.S. persons\u2014now exempt from the reporting requirements\u2014from the beneficial ownership information database by working with the National Archives and Records Administration (NARA). When the deletion will occur is unclear.<\/p>\n\n\n\n

Updated<\/a> FAQs directly from FinCEN may be accessed here<\/a>.<\/p>\n\n\n\n

Our business practice group here at Barna, Guzy & Steffen<\/a> is dedicated to staying informed and serving our clients\u2019 best interests. If you have questions regarding your Minnesota business activity, our experienced attorneys are ready to assist you. Please contact your attorney directly, or email us at info@bgs.com<\/a> or call us at (763) 780-8500. We look forward to connecting with you!<\/p>\n","protected":false},"excerpt":{"rendered":"

<image generated by AI> Rachel R. Schwankl, Paralegal, contributed to this article. On August 11, 2026, the U.S. Department of the Treasury\u2019s Financial Crimes Enforcement Network (\u201cFinCEN\u201d) issued a final rule which permanently removes the requirement for United States companies and United States persons to report beneficial ownership information (\u201cBOI\u201d) 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\u2014now exempt from the reporting requirements\u2014from 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. Our business practice group here at Barna, Guzy & Steffen is dedicated to staying informed and serving our clients\u2019 best interests. If you have questions regarding your Minnesota business activity, our experienced attorneys are ready to assist you. Please contact your attorney directly, or email us at info@bgs.com or call us at (763) 780-8500. We look forward to connecting with you!<\/p>\n","protected":false},"author":14,"featured_media":8035,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[7,17,212],"tags":[184],"coauthors":[54],"yoast_head":"\nCorporate Transparency Act Update: FinCEN Finalizes BOI Rule<\/title>\n<meta name=\"description\" content=\"FinCEN has finalized its BOI reporting rule under the Corporate Transparency Act. 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