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Client Alert | Griffith Xidias Law Group LLC | August 17, 2026
If you formed an LLC, corporation, or limited partnership in Indiana over the past few years, you heard about beneficial ownership information — BOI — reporting. The deadlines, the penalties, the court rulings that turned the requirement on and off.
Here is where it finally landed: for U.S. companies, it is over.
What FinCEN did
On August 14, 2026, FinCEN’s final rule took effect. Beneficial Ownership Information Reporting Requirement Revision, 91 Fed. Reg. 52508 (Aug. 14, 2026). The rule adopts as final the interim rule FinCEN issued in March 2025 and permanently narrows BOI reporting under the Corporate Transparency Act. FinCEN’s announcement is blunt: the rule “permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information.”
What it means for your business
Your Indiana entity does not file. All entities created in the United States — everything previously called a “domestic reporting company” — are exempt.
U.S. owners are not reported. Reporting companies do not report BOI for U.S. person beneficial owners or company applicants.
You do not hand over your information. U.S. persons no longer have to provide BOI to a reporting company.
FinCEN IDs are frozen in place. A U.S. person with a FinCEN ID is not required to update or correct what was already submitted.
What you already filed is being erased. FinCEN says it “will delete previously reported information by U.S. persons” from the BOI database.
Who still has to report
Foreign entities.
A company organized under the laws of another country and registered to do business in Indiana is still a reporting company — but it reports only its non-U.S. beneficial owners, and it leaves U.S. person company applicants out entirely. A foreign entity registering now generally has 30 calendar days after notice that its registration is effective to file an initial report.
The exemption rests on the Treasury Secretary’s authority to exempt a class of entities where reporting “would not serve the public interest” and “would not be highly useful in national security, intelligence, and law enforcement agency efforts.” 31 U.S.C. § 5336(a)(11)(B)(xxiv).
What to do now
Cancel the reminder — and the invoice. Do not pay a filing service for a report that is no longer required.
Read your paperwork. Operating agreements, buy-sell agreements, and loan documents signed in 2024 and 2025 often carry BOI covenants — promises to supply ownership information or certify CTA compliance. Those contractual obligations do not disappear because the rule changed. Clean them up at your next amendment.
Look hard at any foreign-formed entity. If a company in your structure was organized outside the United States and registered here, the requirement still applies to it.
Questions about your structure?
Griffith Xidias Law Group helps Indiana business owners and real estate investors keep their entities clean, current, and compliant. If you are not sure whether anything in your structure is still caught by what remains of the rule, call us at (317) 663-0650 or email Matt@GXlawgroup.com.
This article is general information about Indiana and federal law and is not legal advice. Reading it does not create an attorney-client relationship. Laws and regulations change; consult a lawyer about your specific situation.