FinCEN finalized its beneficial ownership rule in August 2026. U.S. companies are exempt and no longer file BOI reports. U.S. people do not have to hand their details to a reporting company, and anyone who already has a FinCEN ID does not need to go back and update it. If you formed a Florida LLC and have been worrying about this, you can stop.
What FinCEN actually says
Straight from the alert on FinCEN’s own BOI page, updated 11 August 2026:
U.S. companies are exempt from the Beneficial Ownership Information (BOI) reporting requirements and therefore, are no longer required to file BOI reports.
Three things follow from the same rule. Reporting companies do not report beneficial ownership information for U.S. people. U.S. people do not have to provide it. And a U.S. person who already holds a FinCEN ID is not required to update or correct what they submitted before.
One group this does not cover
Foreign companies. The same rule set new deadlines for them rather than removing the requirement, so if your reporting company is foreign-formed, none of the above is your exit. Check FinCEN directly. Everything else here is about U.S. companies and U.S. people.
Florida’s own filing page still tells you otherwise
Here is the part worth knowing if you are forming an LLC this week. The Division of Corporations’ LLC e-filing page — the page you read while you file — still carries a section headed “Reporting of Beneficial Ownership Information”, saying that effective 1 January 2024 there is a federal requirement to report it, and pointing you at Treasury.
That notice has not been updated. If you are a new Florida LLC owner reading it today, it tells you to go and do something you do not have to do.
Which makes the letters worse
BOI generated an enormous amount of official-looking mail: envelopes with deadlines, penalty figures and a fee to “file on your behalf”. Those letters have not stopped simply because the requirement did.
So the rule is simpler than it used to be. If something arrives telling you to file a BOI report for a U.S. company, or threatening a penalty if you do not, it is not a government notice and there is nothing to file. Throw it away.
What you do still have to do in Florida
None of this touches the things that were already true. Your LLC still files an annual report between January 1 and May 1, at $138.75, with a mandatory $400 penalty after that. You still maintain a registered agent at a Florida street address. And if you trade under a name that is not the LLC’s own, you still run a newspaper notice before registering it.
BOI going away removes one federal filing. It does not remove the state ones, and nobody is going to send you a letter reminding you about those.
Where this comes from. The exemption and the quoted wording are from FinCEN’s Beneficial Ownership Information Reporting page, alert updated 11 August 2026. The notice still shown to Florida filers is on the Division of Corporations’ LLC e-filing page. Both read 3 October 2026.
The Honest Founder is a document filing service, not a law firm, and nothing here is legal or tax advice. Rules and fees change. Confirm anything you are relying on against the source itself before you act on it.
If your reporting company is foreign-formed, this does not describe your position — check with FinCEN directly.