Corporate Transparency Act
Also called CTA · BOI
Federal beneficial ownership reporting regime administered by FinCEN, now scoped to foreign-formed reporting companies.
In full
The Corporate Transparency Act directs FinCEN to collect beneficial ownership information (BOI) — the natural persons who own 25% or more of, or exercise substantial control over, a reporting company. The scope of who must report has narrowed. FinCEN's interim final rule of 26 March 2025 redefined "reporting company" to mean only entities formed under the law of a foreign country that have registered to do business in a U.S. State or tribal jurisdiction, and exempted entities created in the United States, along with U.S. person beneficial owners, from the reporting requirement. Reports remain non-public and separate from state-level filings. The rule was issued in interim form, so the position in force at the time of filing should be confirmed against FinCEN's current guidance.
Governed by: Beneficial ownership reporting rules.
This definition is general information about how the term is used in U.S. cross-border tax. It is not advice, and how it applies depends on your own facts and on the treaty, if any, in force with your country.