Beneficial Ownership Information Reporting Requirements
Revision of a currently approved collection
No
Regular
09/24/2026
table that charts list comparision
Requested
Previously Approved
36 Months From Approved
11/30/2026
12,790
133,089
10,824
86,125
0
0
On August 14, 2026, FinCEN issued a final rule to adopt as final and with certain limited changes the interim final rule issued on March 26, 2025, which narrowed beneficial ownership information (BOI) reporting requirements under FinCENâs regulations implementing the Corporate Transparency Act (CTA). In particular, this final rule not only continues to exempt reporting companies from having to report the BOI of U.S. person beneficial owners and U.S. person beneficial owners from having to provide BOI to reporting companies; it also exempts reporting companies from having to submit information about their U.S. person company applicants to FinCEN and exempts U.S. person company applicants from any obligation to provide their information. In addition, the final rule exempts all U.S. persons from the requirement to update information already provided to FinCEN in connection with obtaining a FinCEN identifier (FinCEN ID).
The estimated change in total aggregate reporting burden hours, for PRA purposes on a going-forward basis from the IFR to the Final Rule, is an additional reduction of burden by approximately 75,301 burden hours per year, on average. The estimated change in total reporting cost is a reduction by approximately $20 million dollars per year, on average. This reduction in burden reflects several changes, which can be broadly grouped as (1) changes due to rule modifications and (2) changes due to data evaluation refinements since the IFR.
Changes due to rule modifications: The Final Rule further narrows the IFRâs reporting requirements by exempting reporting companies from having to submit BOI about their U.S. person company applicants to FinCEN. This change is expected to lower both (1) the complexity of future BOIRs in terms of the number of reported persons and (2) the number of FinCEN ID applications submitted. The Final Rule also newly exempts U.S. persons from the requirement to update information filed when applying for a FinCEN ID, lowering the expected number of future updates submitted for existing FinCEN IDs.
Changes due to data evaluation refinements: For the Final Rule, FinCEN updated the data analysis prepared for the IFR on existing reporting company exemptions, reporting company complexity, and the proportion of reporting companies and FinCEN ID holders that make updates to the information previously provided to FinCEN. These analytical updates resulted in a lower number of expected BOIRs due to a higher share of foreign companies registered to do business in the United States being exempt under the Final Rule, less complex reports for those who submit BOIRs, and fewer updates to information provided to FinCEN through BOIRs or FinCEN ID applications.
Together, these changes resulted in downward revisions to FinCENâs previously estimated aggregate burden hours and expected costs.
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
FinCEN Identifier Application
BOI Reporting Final Rule Supporting Statement 8_21_2026_FINAL.docx
Individual FinCEN Identifier - Updated Reports