You probably do not need a BOI report
FinCEN's interim final rule of 21 March 2025 exempted every entity created in the United States from beneficial ownership reporting. A Wyoming or Delaware LLC is a US-formed entity. Much of the industry is still selling this filing.
The essentials
Verified July 28, 2026
- US-formed LLC
- ExemptEntities previously defined as "domestic reporting companies" do not report BOI, and do not need to update or correct anything previously filed.
- Rule date
- 21 March 2025FinCEN interim final rule; Federal Register notice 2025-05199, published 26 March 2025.
- Who still files
- Foreign reporting companiesEntities formed outside the US that register to do business in a US state.
- RazorFile's price
- Not soldWe removed this from our own marketplace when we checked the current rule. We are not charging for a filing our customers do not need.
What's included
- Nothing — there is no service to buy here if your LLC was formed in the US
What's not included
- BOI filing for domestic entities, because it is no longer required
- Advice on whether a foreign reporting company's obligations apply to your specific structure — that needs a lawyer, not a formation service
Paying for a filing that stopped being required in March 2025
This is the failure mode, and it is ours as much as anyone's. Until we checked the current rule while writing this page, RazorFile's own marketplace listed a BOI filing at $49, marked popular, describing it as required within 90 days of formation. That was accurate before March 2025 and false afterwards. We have corrected it. If another provider is quoting you for this on a US-formed LLC, ask them which rule they are working from.
What actually changed
The Corporate Transparency Act originally required most US companies to report their beneficial owners to FinCEN. On 21 March 2025 FinCEN issued an interim final rule narrowing the requirement to entities previously defined as foreign reporting companies. All entities created in the United States, and their beneficial owners, are exempt — and are not required to update or correct information previously reported.
Who does still report
Companies formed under the law of a foreign country that register to do business in a US state. If you formed a company in your home country and then registered it as a foreign entity in, say, Delaware, the requirement may still reach you. Forming a Wyoming LLC directly, which is what most non-US founders here are doing, creates a domestic entity that does not report.
Why so much published guidance is wrong
The rule changed mid-stream after a period of litigation and shifting deadlines, and an enormous volume of content was written during the period when domestic filing was required. Most of it was never updated. Check the date on anything you read about BOI, including this page — we have dated it for exactly that reason.
Worth knowing
This describes the position as of the date shown. BOI has already changed direction once and could change again through further rulemaking or litigation. We are a formation service, not a law firm — if your structure involves a foreign entity registering in a US state, that is a question for a lawyer.
Common questions
Do I need to file a BOI report for my Wyoming LLC?
No, assuming it was formed in Wyoming rather than registered there from abroad. FinCEN's March 2025 interim final rule exempted all entities created in the United States. You also do not need to update or correct anything you filed before the rule changed.
I filed a BOI report last year. Do I need to do anything?
Per the rule, entities previously defined as domestic reporting companies do not have to report, update or correct BOI. If your circumstances changed after filing, there is no obligation to send FinCEN an update.
Someone is charging me for a BOI filing. Should I pay?
Ask them which rule they are working from and whether they are aware of the March 2025 interim final rule. If your LLC was formed in the US, the filing is not required. We are not saying this to win your business — we removed the same product from our own marketplace when we checked.
Could this change again?
Possibly. This area moved several times through 2024 and 2025 via litigation and rulemaking. That is why this page carries a verification date rather than presenting itself as permanent. Check the date before relying on it.
Form your US LLC with RazorFile
Wyoming filing, Registered Agent and EIN guidance from $249 plus the state fee. Filed in one to three business days.
RazorFile files companies. We are not a law firm or tax advisor, and nothing on this page is legal or tax advice.