The US Treasury Department finalized a rule on August 11 permanently exempting domestic companies and US individuals from beneficial ownership information reporting requirements under the Corporate Transparency Act. The rule, which takes effect on August 14, 2026, redefines reporting company to exclude any entity formed under US or tribal law. FinCEN also plans to delete all previously submitted beneficial ownership data on American persons. Foreign companies registered to do business in the US remain subject to these disclosure requirements, with some reporting deadlines set as early as April 25, 2025.
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