BOI reporting update — September 2026: U.S. companies are exempt from FinCEN beneficial ownership information reporting. The former advice to assume every domestic LLC, S corporation or partnership must file no longer applies.
Who Should Review a BOI Filing Obligation?
Some entities formed outside the United States and registered to do business here remain subject to reporting, unless an exemption applies. Eligibility should be checked before preparing a report or paying for filing assistance.
FinCEN’s final rule took effect August 14, 2026. Reporting companies do not report U.S. person beneficial owners or company applicants. Read FinCEN’s current BOI guidance for the rule, exemptions and filing information.
Legal and Filing Assistance
Colorado Legal can help evaluate an entity’s reporting status and the information needed for an applicable filing. Bring the formation documents, jurisdiction of formation, U.S. registration records, ownership information and any previous BOI report to the discussion.
The previously advertised $349 fee is for a straightforward report where a filing is actually required. Confirm eligibility and the scope of work before engaging the firm. Filing directly with FinCEN carries no government filing fee.
Earlier BOI Guidance
The 2024 BOI video is retained as historical background. Its original discussion of domestic-company filing requirements should not be used as current instructions.
Discuss an Entity or Reporting Question
Schedule a Tax Attorney Consultation with Philip Falco, Attorney & CPA, to discuss your circumstances. The consultation and any subsequent filing work have separate scopes.
Related Business Legal and Tax Services
Business decisions often involve overlapping legal, tax, financial-reporting, ownership and entity-structure considerations.