Update: March 21, 2025
In January 2024, the US Treasury Department introduced a new reporting requirement for registered businesses, like LLCs. As the original Jan 1, 2025 deadline neared, enforcement was halted by a federal court.
After a lot of back and forth, it seems we have a final answer.
In its final rule, FinCEN has removed the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act (CTA).
The ruling still stands for foreign entities. More information can be found here.
Other Resources on this Topic
BOIR Filing Requirement Update for Registered Music Studios in the US [Article]
Music Studio Startup Episode 156 – Beneficial Ownership Information (BOI) Reporting Requirement [Podcast]
FinCEN ID Application for Individuals
FinCEN Beneficial Ownership Information Report Help & Resources
Beneficial Ownership Information Reporting FAQs | FinCEN.gov
Beneficial Ownership Information Reporting Rule Fact Sheet | FinCEN.gov