Ending Corporate Transparency Act Reporting for U.S. Companies: What it Means for Freelancers Who Filed
By Terry Ann Donner, RN, JD, CCM, CSA
On August 11, 2026, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) permanently eliminated the requirement that U.S. businesses submit their Beneficial Ownership Information (“BOI”) to FinCEN.
What is the Corporate Transparency Act
Enacted in 2021, the Corporate Transparency Act, §§ 6401-6403 of the National Defense Authorization Act, (“CTA”) was created to prevent businesses from being used as a cover for criminal activities, such as money laundering, tax evasion and the financing of terrorism.
Select U.S. and foreign companies were required to report their BOI to FinCEN before January 1, 2025. Freelancers and many small businesses in the U.S. were required to report. The BOI was to be stored in a database in each state so business owners could be identified, and criminal activity could be detected.
Legal challenges to the CTA resulted in a number of reporting deadline extension.
What Should You Do
If you are a U.S. business or freelancer and have not filed your BOI with FinCEN, you no longer need to watch for updates on filing requirements. For U.S. companies and freelancers that have filed with FinCEN, yout BOI will be deleted from the databases.
It is noted that CTA will continue to require reporting by certain foreign companies.
Nothing in this article is intended to be legal advice. Please contact your legal advisor if you have any questions regarding your BOI or the CTA.
August 11, 2026
Donner Health Communications LLC