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The Corporate Transparency Act (CTA) introduced Beneficial Ownership Information (BOI) reporting requirements for U.S. companies. However, recent federal directives confirm that LLCs formed on or after March 26, 2025, are exempt from filing a BOI report. This exemption simplifies compliance for newly created businesses, but it does not remove other federal and state reporting obligations.

BOI Reporting Exemption for New LLCs

If your LLC is formed after March 26, 2025, you do not need to file a BOI report with the Financial Crimes Enforcement Network (FinCEN).

Example Case:

• GREENSTONE MUSIC LLC was founded in Wyoming on April 11, 2025.

• Because it was established after the exemption date, it is not required to file a BOI report.

• This exemption applies across all states, provided the business entity is officially formed on or after the exemption date.

Compliance Requirements for LLCs Formed After March 26, 2025

Even though BOI reporting is not required, new LLCs must still meet other ongoing compliance obligations:

1. Annual State Reports

Every state requires periodic filings to maintain good standing.

• Example: GREENSTONE MUSIC LLC must file its first annual report in April 2026 with the Wyoming Secretary of State.

2. Federal IRS Tax Filings

LLCs must file federal taxes by April 15 each year.

Required forms may include:

• Form 5472 – for reportable transactions with foreign owners

• Form 1120 – for certain LLCs taxed as corporations

3. Foreign Bank Account Reporting (FBAR)

If the LLC holds foreign bank accounts with an aggregate value exceeding $10,000 at any point during the calendar year, it must file FinCEN Form 114 (FBAR).

Key Takeaway

• LLCs formed after March 26, 2025 → Exempt from BOI reporting

• Still required → Annual state reports, federal tax filings, and FBAR (if applicable)

Conclusion

LLCs established on or after March 26, 2025 enjoy an exemption from BOI reporting, easing one compliance burden for new entrepreneurs. However, these businesses are still required to file annual state reports, federal IRS forms, and FBAR reports where applicable.

To ensure your LLC remains in good standing and fully compliant, consult a business attorney, enrolled agent, or tax professional who can guide you through ongoing obligations.