BOI Filing for US LLCs in 2026: No Longer Required
FinCEN's August 2026 final rule removed Beneficial Ownership Information (BOI) reporting for US-formed LLCs and US persons. Here is what changed, who (if anyone) still reports, and what non-resident founders should do instead.
Published by HynoGo — US LLC & UK LTD Formation for Non-Residents — From Anywhere.. Dedicated corporate formation, international taxation, and business compliance intelligence for cross-border founders.
Quick answer
No. Since FinCEN's final rule took effect on 14 August 2026, US-formed LLCs, including single-member LLCs owned entirely by non-residents, no longer have to file a BOI report. Reporting now applies only to certain foreign-formed entities registered to do business in a US state.
What was BOI filing?
The Beneficial Ownership Information (BOI) report was a filing created under the Corporate Transparency Act (CTA) and administered by FinCEN, the US Financial Crimes Enforcement Network. It asked companies to disclose the individuals who own or control them.
From 2024 to 2025 it applied to most US LLCs, including those owned by non-residents, and it generated a lot of confusion, conflicting court rulings and a stream of marketing that pushed owners into paid filings.
The 2026 update: US-formed LLCs no longer have to file
FinCEN issued its final rule on 11 August 2026, effective 14 August 2026. It removes BOI reporting requirements for entities formed in the United States and for US persons. A standard Wyoming, Delaware, New Mexico or Florida LLC owned by a non-resident is therefore no longer required to file a BOI report.
Earlier in 2025 FinCEN had already suspended enforcement against US-formed companies through an interim rule, so no new daily penalties were being pursued for them. The final rule makes that position permanent. The large daily-penalty figures quoted in older articles apply only to entities that are still required to report.
Who might still have a reporting obligation?
- US-formed LLCs and corporations (including non-resident-owned single-member LLCs): no BOI report required under the final rule
- US persons who own or control a company: not required to report
- Foreign companies registered to do business in a US state: the rules for these entities are narrower and change over time, so check FinCEN's current guidance or ask a US tax professional before assuming either way
- Any state-level annual report or ownership disclosure: separate from BOI and still applies (for example Florida annual reports, Wyoming annual report fees)
This article is general information, not legal advice. Rules in this area have changed several times, so confirm against FinCEN's website or a licensed US adviser if your structure is unusual.
What non-resident LLC owners should still do
- Keep your LLC in good standing: pay the state annual fee and keep your registered agent active
- File IRS Form 5472 and a pro forma 1120 every year if you own a single-member LLC as a foreign person. This is still required and carries a $25,000 penalty if missed
- Keep your own record of members, ownership percentages and the operating agreement, since banks and payment processors still ask for it during KYC
- Maintain a valid EIN, a US business address and a bank account that matches the LLC's legal name
Do banks and payment providers still ask for ownership information?
Yes. Banks, Stripe, Wise, Mercury and other providers carry out their own know-your-customer checks and request ownership details, ID and proof of address regardless of FinCEN's rule. Having a clean operating agreement and consistent documents makes onboarding faster.
HynoGo's formation packages therefore focus on the items that actually affect approvals: Articles of Organization, EIN, operating agreement, registered agent and a US business address.
What this means if someone sold you a BOI filing
If you paid for a BOI report in 2024 or 2025 in good faith, there is nothing you need to undo. If a provider is still selling BOI filing as mandatory for a US-formed LLC with a daily-penalty warning, ask them to cite the current FinCEN rule before you pay.
HynoGo no longer includes BOI filing in its formation packages. We do not charge for a report that the law no longer requires.
Official sources
Figures and rules last checked against these sources on October 4, 2026.
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