Are some companies exempt from the FinCEN beneficial ownership reporting rule?

Yes, 23 types of entities are exempt from the beneficial ownership information reporting requirements. These entities include publicly traded companies meeting specified requirements, many nonprofits, certain regulated companies, and certain large operating companies.

Related FAQs

• What is the Corporate Transparency Act (CTA)?
• What is the Corporate Transparency Act (CTA) Beneficial Ownership Information (BOI) reporting rule?
• What is FinCEN?
• What is the FinCEN beneficial ownership reporting rule?
• If my company must make a FinCEN beneficial ownership report, when is it due?
• What is a “company applicant” under the FinCEN beneficial ownership reporting rules?
• How does the FinCEN beneficial ownership reporting rule “large operating company” exemption work?
• Do wholly owned subsidiaries have to file the beneficial ownership report to FinCEN?
• What is a “FinCEN identifier?”
• If required, how can I file a FinCEN beneficial ownership report for my company?
• What information must be included in a FinCEN beneficial ownership report for the reporting company?
• What information must be included in a FinCEN beneficial ownership report about each beneficial owner of the reporting company?
• What information must be included in a FinCEN beneficial ownership report about its company applicants?
• Do I have to update a FinCEN beneficial ownership report?  If so, when?

Related Resources

• Orrick’s Corporate Transparency Act (CTA) Resource Center
• Orrick’s FinCEN Beneficial Ownership Reporting Tool
• FinCEN Beneficial Ownership Information (BOI) Website
• FinCEN Beneficial Ownership Information Reporting FAQs
• FinCEN Small Entity Compliance Guide