Compliance · Guide
Do you still need to file a BOI report? The rules changed in 2025
A short read on the 2025 rule change, who's still affected, and the scam attempts that haven't slowed down.
The short version
If you registered a business and have been bracing for a federal beneficial ownership filing, there's a good chance the requirement no longer applies to you. In March 2025, federal regulators significantly narrowed who has to file, but this rule has changed direction before, and scam attempts referencing this filing haven't slowed down.
A quick history
The original rule, in effect starting January 1, 2024, required most small corporations and LLCs to report their beneficial owners to the federal government, with real penalties attached to non-compliance. It caused a lot of last-minute scrambling among small business owners trying to figure out if, and how, they needed to file.
What changed
Regulators significantly narrowed the scope of who's required to file, shifting the requirement away from most domestically formed businesses. Depending on how and where your business was formed, you may no longer have a filing obligation at all, but the specifics matter, and this is exactly the kind of rule worth confirming rather than assuming.
Watch out for
This filing has attracted scam emails and letters demanding payment to "file your BOI report" or threatening penalties, these have continued even after the rule changed, preying on outdated information. Be skeptical of any unsolicited message about BOI filing that asks for money or personal ownership information.