Hi, I’m CPA Maximiliano Mira Salas. In this edition, we address the current status of the BOI Report (Beneficial Ownership Information Report) before FinCEN — a requirement that has generated confusion following recent court rulings and regulatory changes in the U.S.

Below, we summarize the current state of the regulation based on the type and origin of the entity.

🇺🇸 Domestic Entities (LLCs or Corporations Formed in the U.S.):
As of March 3, 2025, FinCEN issued a temporary exemption rule suspending the BOI Report filing requirement for domestic entities. If your company was formed in the U.S., you are currently not required to file the report, and FinCEN will not impose penalties for failing to do so while this rule remains in effect.

Technical Note:
This measure responds to constitutional litigation related to the Corporate Transparency Act. Although the Act remains formally in force, it is not being enforced for domestic entities under this new directive.

🌍 Foreign Entities Registered in the U.S.:
If your company was formed outside the U.S. but is registered to operate in the country (e.g., as a foreign LLC in Florida or Delaware), the BOI Report remains mandatory, with new deadlines established by FinCEN.

📋 What Should Companies Do Today?

Domestic Entities (Formed in the U.S.): If your company was formed in the U.S., you are currently not required to file the BOI Report.
Foreign Entities Registered in the U.S.: If your company was formed abroad but is registered to do business in the U.S., you are still subject to the requirement and must comply with the new deadlines.

Important Considerations:

No penalties will be imposed for noncompliance during the exemption period.
You may file voluntarily if deemed appropriate.
The regulation is subject to ongoing judicial and regulatory developments, so technical follow-up and up-to-date documentation are strongly recommended.

📌 Legal and Accounting Notice
This communication is for informational purposes only and does not constitute legal or tax advice. Each case must be evaluated individually, considering the taxpayer’s country of residence, global assets, and applicable international treaties. The decision to file or postpone the BOI Report should be made in consultation with a qualified accounting professional familiar with U.S. federal regulations.

At FINANCERS, we monitor real-time regulatory changes affecting our clients with U.S. entities and help you determine whether your company must file the BOI Report, how to file correctly, or when it may be appropriate to defer the filing.

CPA Maximiliano Mira Salas
International Tax Advisor | FINANCERS 🇦🇷🇺🇸