https://www.acams.org/en/news/breaking-news-fincen-permanently-eliminates-beneficial-ownership-reporting-us-entities

The U.S. Financial Crimes Enforcement Network has permanently axed the Corporate Transparency Act's requirement that U.S. legal entities identify their beneficial owners and will delete all such information previously submitted by them.

FinCEN wrote in a 73-page final rule Tuesday that limited liability companies, limited partnerships and other legal entities formed in the U.S. will no longer have to provide the names, birthdates and other details of anyone who controls them or owns at least 25 percent of their shares.

The bureau immediately halted enforcement of the CTA for domestic companies in March 2025 and issued an interim final rule that same month, bypassing a formal notice of proposed rulemaking.

Tuesday's final rule enshrines all changes from the interim version while newly exempting foreign entities from having to share the details of any domestic person who helped register them in the U.S.

It also exempts U.S. persons who have applied for "identifiers" with FinCEN from having to update or correct the information they submitted in their applications.

The CTA enjoyed bipartisan support when lawmakers passed the legislation as part of the National Defense Authorization Act in January 2021 over President Donald Trump's veto.