Do I need to file a Beneficial Ownership Information (BOI) report for my LLC?

As of FinCEN's interim final rule from March 2025, all US-formed companies (including LLCs) are exempt from Beneficial Ownership Information (BOI) reporting, regardless of when they were formed - you don't need to file a BOI report for your LLC. What changed Previously, most US LLCs and corporations had to file a BOI report under the Corporate Transparency Act. FinCEN's March 2025 rule removed that requirement entirely for domestic (US-formed) companies and their beneficial owners. This isn't limited to companies formed after a specific date - it applies whether your LLC was formed in 2015 or next month. Who's still affected Only foreign companies (entities formed under another country's law) that are registered to do business in a US state still have BOI reporting obligations, and even then, they no longer have to report US persons as beneficial owners. What you still need to do Being exempt from BOI reporting doesn't mean you're off the hook for everything else. You still need to: 1. File your state's annual report on time to stay in good standing. 2. File your federal tax return each year (including Form 5472 and a pro forma Form 1120, if you're a foreign-owned single-member LLC). 3. File an FBAR (FinCEN Form 114) if your LLC's foreign bank accounts combined exceed $10,000 at any point during the year. If you already started or completed a BOI filing before this exemption took effect, you don't need to do anything further -the exemption covers you going forward. If your situation is more complex (for example, foreign ownership involved with a foreign entity), check with the doola team or a compliance professional to confirm how it applies to you.