What is the FinCEN BOI rule (US)?
Under the US Corporate Transparency Act 2021, most US-formed and foreign-registered companies must file beneficial ownership information with FinCEN identifying any individual who (a) owns ≥ 25% or (b) exercises substantial control. After several court challenges in 2024 and a March 2025 interim final rule, the reporting obligation now applies primarily to foreign reporting companies. Domestic reporting companies are largely exempt as of the March 2025 rule. Compliance professionals should monitor FinCEN guidance for further changes.