A FinCEN rule issued in March 2025 exempted virtually all U.S.-formed entities from Beneficial Ownership Information reporting under the Corporate Transparency Act. If your LLC or corporation was formed in the U.S., you currently don’t need to file. But the exemption is a policy pause, not a repeal — the law remains on the books, and FinCEN is expected to finalize its rule in 2026. Smart move: keep your ownership records current and ready to file, so a future change doesn’t catch you flat-footed. Foreign-formed entities registered here still have obligations.