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Corporate Transparency Act Reporting

Under the August 2026 final rule from the Financial Crimes Enforcement Network (FinCEN), U.S. companies and U.S. persons no longer file Beneficial Ownership Information (BOI) reports under the Corporate Transparency Act (CTA). Foreign reporting companies registered to do business in the U.S. still report beneficial ownership information for their foreign individuals. SingleFile helps you understand which entities are still in scope and file accurately where a report is required.

Check Your BOI Reporting Obligations

Service options

Obligation assessment

Not every company needs to file a BOI report, there are 23 exemption categories. SingleFile helps you determine whether your entity is required to report and which exemptions may apply.

Beneficial owner identification

A beneficial owner is anyone who owns 25% or more of the company, or exercises substantial control. We help you identify all beneficial owners and company applicants required for your report.

Accurate report preparation

We prepare your BOI report with the required information, including beneficial owner names, addresses, dates of birth, and identifying document numbers, and file with FinCEN on your behalf.

Update filings

If beneficial ownership changes, through a sale, new investor, or officer change, an updated BOI report must be filed within 30 days. SingleFile monitors for triggering events and manages update filings.

Multi-entity management

For companies with multiple entities, SingleFile manages BOI reporting obligations across your entire portfolio from a single dashboard.

Related compliance guides

CTA Timeline

A full legal history of the Corporate Transparency Act — key legislative, regulatory, and judicial events from enactment through the August 2026 final rule.

View the timeline →

New York LLC Transparency Act (NY LLCTA)

What foreign LLCs registered in New York must know about the state-level BOI requirement effective January 1, 2026 — deadlines, what to report, annual filings, and penalties.

Read the NY LLCTA guide →

Do I Still Need to File a BOI Report in 2026?

Where CTA beneficial ownership reporting stands now — who must still file under the August 2026 final rule, who is exempt, and what changed for domestic companies.

Get the 2026 answer →

Who Counts as a Beneficial Owner for BOI Reporting?

The two tests — substantial control and 25% ownership — explained with the edge cases: trusts, holding companies, senior officers, and exempt entities.

See who counts →
FAQs

Frequently asked questions

What is the Corporate Transparency Act?
The CTA is a federal law that went into effect January 1, 2024. It requires most small U.S. businesses to report information about their beneficial owners to FinCEN. The goal is to prevent the use of shell companies for money laundering, tax evasion, and other illicit activity.
Who needs to file a BOI report?
Most corporations, LLCs, and similar entities formed or registered in the U.S. must file, unless they qualify for an exemption. Exempt entities include large operating companies (20+ employees, $5M+ revenue, physical office), publicly traded companies, banks, and certain regulated industries.
What is the deadline for BOI reporting?
Current status: FinCEN issued a final rule in August 2026 (91 FR 52508, effective August 14, 2026) adopting as final, with limited changes, its March 2025 interim final rule. US domestic companies and US persons are exempt from BOI reporting. Foreign reporting companies registered to do business in the US still report beneficial ownership information for their foreign individuals. State-level requirements, such as the New York LLC Transparency Act, apply separately. SingleFile monitors regulatory developments and will alert you to any changes affecting your obligations.
What are the penalties for not filing?
If your entity was formed in the US, there is nothing further to file, update, or correct, and no penalty applies for not filing going forward. Penalties remain relevant only for foreign reporting companies that are still required to report. For those entities, willful failure to file can result in civil penalties of up to $591 per day and criminal penalties including fines up to $10,000 and imprisonment up to 2 years.
What happens to the beneficial ownership information already filed?
Now that the reporting requirement has been removed, there is no longer a legal basis to retain the personal information collected for BOI reports. SingleFile plans to delete that personal information by September 30, 2026, with no action required on your part. For filed BOI records, SingleFile retains a basic record confirming that a report was filed on your behalf at the time, without the personal information being removed.
Are there state-level equivalents to the Corporate Transparency Act?
Yes. Some states have enacted their own beneficial ownership transparency laws that mirror or expand on the federal CTA. The most prominent is the New York LLC Transparency Act (NY LLCTA), which took effect January 1, 2026 and currently applies to foreign LLCs registered to do business in New York. Other states, including California, have similar legislation under consideration, SingleFile tracks these developments and will alert you to any new obligations that apply to your entities.

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