On August 11, 2026, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued a final rule permanently eliminating the requirement for U.S. companies and U.S. persons to report beneficial ownership information under the Corporate Transparency Act. The rule, which will go into effect upon publication in the Federal Register on August 14, 2026, makes permanent the exemptions first introduced in an interim final rule issued in March 2025.
The final rule exempts U.S. persons who obtained FinCEN IDs from any obligation to update or correct previously provided information, eliminates the requirement for foreign companies to report U.S. person “company applicants,” and 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 vehicle. FinCEN also announced it will delete from its beneficial ownership information database any data about individuals it reasonably believes to be U.S. persons—including company applicants, beneficial owners, and FinCEN ID recipients. It is important to note 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 issued Frequently Asked Questions and intends to issue updated guidance on FinCEN.gov to reflect these changes.
U.S. Department Press Release | FinCEN Press Release | Final Rule – Federal Register | Final Rule – Frequently Asked Questions