From www.journalofaccountancy.com: The U.S. Treasury Department has narrowed the beneficial ownership information (BOI) filing requirements to only foreign entities, exempting U.S. companies and persons from reporting.

The Financial Crimes Enforcement Network issued an interim rule formalizing that only foreign reporting companies must report BOI, and it delays the filing deadline for foreign entities registered in the U.S. to 30 days after the new rule’s announcement.

Advocacy from the AICPA and state CPA societies contributed to these changes in the reporting requirements.