BOI / FinCEN Status Tracker: Do US LLCs Still File?
Short answer as of November 8, 2026: no. A federal final rule permanently exempts US-formed companies from beneficial ownership reporting. A multistate lawsuit is trying to undo that. This tracker follows it, dated and sourced.
Current status: November 8, 2026
US-formed LLCs do not file beneficial ownership information (BOI) reports with FinCEN (the Financial Crimes Enforcement Network, part of the U.S. Treasury Department). The exemption is permanent under the final rule published August 14, 2026 (91 FR 52508). Foreign companies registered to do business in the US still report. On October 27, 2026, 20 states and the District of Columbia sued to vacate the final rule. Until a court rules, the exemption stands. If anyone offers to file a BOI report for your US LLC for a fee, you do not need it.
What BOI reporting was
The Corporate Transparency Act required most small companies to report their beneficial owners, the people who own or control them, to FinCEN, the Treasury Department's financial crimes bureau. Reporting began January 1, 2024. Companies formed before 2024 had a year to file. Companies formed in 2024 had 90 days. Penalties for willful failure were severe: the statute sets $500 per day, which FinCEN currently publishes as $591 per day after inflation adjustment, plus fines up to $10,000 and up to two years in prison. That severity is why a cottage industry of paid filing services sprang up, and why so many old guides still carry frightening warnings. For US-formed companies, those warnings are out of date.
Timeline: how we got here
| Date | What happened |
|---|---|
| Jan 1, 2024 | BOI reporting begins under the Corporate Transparency Act for most small companies, domestic and foreign. |
| 2024 to early 2025 | Court challenges and injunctions pause and restart enforcement more than once. Filing deadlines shift repeatedly. |
| Mar 26, 2025 | FinCEN's interim final rule exempts US companies and US beneficial owners. Only foreign reporting companies remain covered. |
| Aug 14, 2026 | The final rule is published (91 FR 52508), making the domestic exemption permanent and directing FinCEN to delete, in a one-time sweep, the earlier-submitted information it reasonably believes belongs to US persons. |
| Oct 27, 2026 | Twenty states and the District of Columbia sue to vacate both the 2025 interim rule and the final rule, arguing the exemption contradicts the statute. The suit also asks the court to block the planned deletion of previously filed data. |
| Today | The exemption is in force while the case proceeds. No ruling has changed it as of this page's last check. |
The October 2026 lawsuit
The states suing argue that the Corporate Transparency Act's text covers domestic companies and that FinCEN cannot exempt them by rule. If the states win and the rule is vacated, domestic BOI reporting could return, presumably with new deadlines set by FinCEN rather than retroactive penalties, but that outcome is speculation. What is not speculation: litigation like this takes months to years, courts usually announce changes with lead time, and this page will be updated when anything moves. That is the point of a tracker.
What this means for your LLC
- Formed in the US? You have no BOI filing to make today. Decline paid filing offers.
- Already filed in 2024 or 2025? Nothing to do, and nothing to request. The final rule directs FinCEN to delete the information it reasonably believes belongs to US persons, identified for example by a US passport or driver's license on file. Keep your own filing confirmation in your records regardless; it costs nothing to keep.
- Foreign company registered in a US state? You still have BOI obligations. The exemption never covered you. The deadlines are the original ones: companies registered before March 26, 2025 had to file by April 25, 2025, and companies registered on or after March 26, 2025 file within 30 calendar days after their registration becomes effective. One narrowing does help: foreign companies no longer report beneficial owners or company applicants who are US persons.
- Watching the lawsuit? Check back here. We log changes with dates in our corrections and updates log.
State transparency laws are separate
The federal exemption does not repeal state experiments. New York's LLC Transparency Act took effect January 1, 2026, and requires covered LLCs to disclose beneficial owners to the New York Department of State. Because the New York law's definitions track the federal rule, its disclosure duty currently lands on LLCs formed outside the United States that are authorized to do business in New York; US-formed LLCs, including New York ones, are exempt from that filing as the law now stands. Covered foreign LLCs authorized before 2026 file by December 31, 2026; later ones file within 30 days of authorization, with annual updates after. A covered foreign LLC that fits one of the Act's exemptions does not skip filing: under section 1107 of the LLC Law it files a signed attestation of exemption instead, on the same deadlines, and each disclosure or attestation carries a $25 filing fee through the Department of State's system. If you form or register an LLC in a state building its own registry, that obligation is separate from FinCEN and survives everything on this page.
Common questions
I filed a BOI report in 2024. Is my information deleted?
The final rule directs FinCEN to delete, in a one-time sweep, the submitted information it reasonably believes belongs to US persons, identified for example by a US passport or driver's license in the filing. You do not need to request deletion, and there is no confirmation step for you. Keep your own copy of the filing confirmation in your records anyway.
How do I tell a BOI scam from a real filing notice?
Work through three checks. First, who is asking: FinCEN does not email, text, or call companies demanding a filing fee, and it never charges to file. Second, what is being sold: a paid "BOI filing service" for a US-formed LLC is selling a filing the government does not want, as of the August 14, 2026 final rule. Third, compare the document against a real obligation you know: your state's annual report comes from your Secretary of State on a known schedule with a known fee, and it never asks for your beneficial owners' ID documents. A notice that wants passport details and a card payment is neither.
If the lawsuit wins, how fast would I have to file?
Nobody knows yet, and anyone who gives you a date is guessing. Vacating the rule would restart a rulemaking or a court-set schedule, and changes of this size have historically come with lead time rather than retroactive penalties. This tracker will carry the new deadlines the week they exist, which is the practical reason to check here before paying anyone.
My LLC is foreign-formed but operates in the US. What are my deadlines?
The original ones, unchanged by the final rule. Registered before March 26, 2025: the deadline was April 25, 2025. Registered on or after March 26, 2025: within 30 calendar days after your registration becomes effective. You do not report beneficial owners or company applicants who are US persons.
Sources
- FinCEN, Beneficial Ownership Information Reporting final rule, 91 FR 52508 (Aug 14, 2026), via the Federal Register.
- FinCEN, interim final rule (Mar 26, 2025) and BOI reporting guidance at fincen.gov.
- Complaint filed Oct 27, 2026 by 20 states and the District of Columbia challenging the final rule.
Last checked: November 8, 2026. This tracker covers the federal rule only. A few states are building their own transparency registries (New York's LLC Transparency Act is the notable one); those are separate state obligations, covered on the relevant state pages as they take effect.
General Information Only
LLCForming publishes general information about forming and running an LLC. It is not legal, tax, or accounting advice, and it does not create an attorney or advisor relationship. Rules vary by state and by your situation. For a decision that matters, talk to a licensed attorney or tax professional in your state.