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FinCEN ends beneficial ownership reporting mandates for US firms

Prime property overlooking New York's Central Park
Foreign owners of shell companies buying prime property in NYC will still need to comply with reporting obligations. Photo: Richard Levine/Corbis via Getty Images

Vlada Gurvich

2 min read
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FinCEN removes beneficial ownership reporting requirements for US companies and US persons, but introduces new deadlines for foreign ones.

In line with the US Department of the Treasury’s March 2, 2025, announcement, FinCEN has released an interim final rule that eliminates the requirement for US companies and US persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act (CTA).

Foreign companies, however, will still be required

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