Compliance
Do you still have to file a BOI report?
For most U.S. companies the federal answer is now no, but the Corporate Transparency Act was not repealed, and several states wrote their own rules while nobody was looking.
Verify before you rely on this
This area has changed repeatedly and may change again. This page is general information reflecting our understanding as of August 2026, not legal advice, and Tresp Corporate Services is not a law firm. Confirm current requirements at FinCEN’s BOI page and with your own attorney before acting or declining to act.
Who still has to file a BOI report?
What actually happened
The Corporate Transparency Act took effect January 1, 2024 and required most U.S. companies to report their beneficial owners to FinCEN. Through 2024 and into 2025 the requirement was enjoined, reinstated, and re-enjoined by a series of court decisions, with deadlines moving each time.
On March 26, 2025, FinCEN issued an interim final rule that revised the definition of “reporting company” to cover only entities formed under foreign law that register to do business in a U.S. state or tribal jurisdiction. Entities formed in the United States, the overwhelming majority of companies the CTA was written to capture, became exempt, and were no longer required to report, update, or correct previously reported information.
Two things follow that are easy to get wrong:
What the exemption is and is not
- It is a regulatory change, not a repeal. The Corporate Transparency Act remains on the books and appellate courts have upheld its constitutionality. A rule that was created by regulation can be narrowed by regulation.
- It does not touch state law. A state beneficial-ownership statute operates independently of the federal rule.
The state laws nobody mentions
While attention was on FinCEN, states began enacting their own versions. New York’s LLC Transparency Act took effect January 1, 2026 and applies to LLCs formed or qualified in New York. California has been advancing its own proposal. More states are likely to follow, and they are not uniform.
The practical consequence: “I don’t have to file BOI anymore” is a statement about federal law only. If your entity is formed or registered in a state with its own disclosure statute, you may still have an obligation, on a different form, to a different agency, on a different schedule.
Why this matters for jurisdiction choice
Wyoming has not enacted a state-level beneficial ownership disclosure regime and does not publish member or manager names in its ordinary entity record. That is one of several reasons holding entities are commonly formed here. It is not a promise of anonymity, see our public record address service page for a plain account of what a state record does and does not conceal.
I already filed a BOI report. Now what?
If you filed before the exemption, the information you submitted is with FinCEN. Under the interim final rule, exempted domestic entities are not required to update or correct previously reported information. Whether you should take any further step, and whether that changes if a final rule reinstates reporting, is a question for your attorney.
What Tresp Corporate Services does and does not do
The honest boundary
We form entities, act as registered agent, and file annual reports with Secretaries of State. We do not determine whether you have a federal or state beneficial-ownership reporting obligation, and we do not file BOI reports on your behalf. That determination depends on facts about ownership and control that are legal questions.
What we do provide is the entity records that make answering the question straightforward: a current, accurate picture of who owns and controls each of your companies, which is exactly what a corporate compliance program maintains. For the legal determination, the independent firm Tresp, Day & Associates, Inc. advises on it.
Want your entity records in order either way?
Whatever the rule ends up being, knowing who owns what across your entities is the prerequisite.
Common questions
Frequently asked
Do I still have to file a BOI report in 2026?
For entities formed in the United States, no. Under a FinCEN interim final rule issued March 26, 2025, domestic entities are exempt from the beneficial ownership information reporting requirement and are not required to report, update, or correct previously reported information. Entities formed under foreign law that have registered to do business in a U.S. state remain reporting companies. This reflects our understanding as of August 2026 and is not legal advice, confirm current requirements with FinCEN and your attorney.
Was the Corporate Transparency Act repealed?
No. The exemption for domestic entities came from a regulation, not from Congress. The statute remains law and appellate courts have upheld its constitutionality, so the scope of reporting could be changed again by a future final rule.
Do state beneficial ownership laws still apply?
Yes, and they are independent of the federal rule. New York's LLC Transparency Act took effect January 1, 2026, and California has been advancing its own version. An entity exempt from federal BOI reporting may still have a state-level obligation.
Does Wyoming require beneficial ownership disclosure?
Wyoming has not enacted a state-level beneficial ownership disclosure regime, and its ordinary entity record does not publish member or manager names. That is not the same as anonymity, banks, the IRS, and courts with jurisdiction still require accurate ownership information.
Does Tresp Corporate Services file BOI reports for clients?
No. We form entities, serve as registered agent, and file Secretary of State reports. We do not determine whether you have a beneficial ownership reporting obligation and we do not file BOI reports. That determination is a legal question.
Tresp Corporate Services, LLC provides corporate, registered-agent, and compliance services and does not provide legal advice. For legal matters, we work in tandem with the independent law firm Tresp, Day & Associates, Inc. This page is general information only.
Ready to form or move your company?
Tell us what you need and we’ll take it from there, most clients are set up within a day.