No More BOI Reports | Numeric Strategies, LLC

🚫 No More BOI Reports for U.S. Companies

FinCEN Eliminates Reporting Requirement for U.S.-Formed Entities

We’re happy to share some good news. On March 2, 2025, the U.S. Department of the Treasury and FinCEN (Financial Crimes Enforcement Network) announced a major change: U.S. companies are no longer required to file Beneficial Ownership Information (BOI) reports under the Corporate Transparency Act.

This decision—issued via interim final rule—officially removes all U.S.-formed businesses from BOI reporting requirements, eliminating what has proven to be a complex and frustrating process for many business owners.

🧾 What’s Changing

Previously, all corporations, LLCs, and similar entities formed in the United States (called “domestic reporting companies”) were required to report detailed ownership information to FinCEN. This reporting requirement came with:

Confusing filing rules,
Onerous documentation standards,
Strict deadlines, and
The potential for steep penalties for late or inaccurate reports.

Under the new rule:

Only foreign entities registered to do business in the U.S. are considered “reporting companies” subject to BOI reporting.
U.S. companies and U.S. persons are fully exempt from BOI reporting obligations.
No BOI reports are required retroactively or going forward for U.S.-formed entities.

🙌 What This Means for You

If you previously created or planned to create a BOI report with our office—or tried to make sense of the reporting rules on your own—you can now breathe a sigh of relief. There is no further action required for U.S.-based businesses under these BOI regulations.

We know many of you spent time, money, and energy jumping through hoops for a rule that, in hindsight, turned out to be a nonstarter. We share your frustration—but we’re also glad to see that this administrative burden has been lifted before further confusion or penalties could arise.

🛑 Who Still Needs to File

The rule does still apply to foreign entities that are:

Formed under foreign law, and
Registered to do business in a U.S. state or tribal jurisdiction.

If this applies to you or your business structure, we will continue to assist you in navigating those specific requirements.

🧭 Moving Forward

At Numeric Strategies, we remain committed to staying ahead of regulatory changes so you don’t have to. We’ll continue monitoring updates from FinCEN as this interim rule moves toward finalization.

If you have questions about how this change affects your business—or if you’re unsure whether your company qualifies for the exemption—please don’t hesitate to reach out.

— The Numeric Strategies Team