FinCEN Exempts U.S. Entities from Corporate Transparency Act Reporting

FinCEN has finalized a rule, effective August 14, 2026, that permanently exempts U.S. entities and individuals from Corporate Transparency Act (CTA) reporting requirements. This revision primarily narrows the definition of a 'reporting company' to foreign entities registered in the U.S., removing beneficial owner and company applicant obligations for U.S. citizens. The change significantly alters the scope of the CTA for domestic parties.