BOI compliance for SaaS founders

BOI Compliance Update for SaaS Founders (January 2026) As of FinCEN's interim final rule published March 26, 2025, most U.S.-formed SaaS businesses are now exempt from reporting Beneficial Ownership Information (BOI) under the Corporate Transparency Act (CTA).

FinCEN has revised the definition of 'reporting company' to primarily include foreign entities registered to do business in a U.S. State or Tribal jurisdiction.

Key Actions for SaaS Founders: 1. Verify Exemption: If your company is formed in the U.S., you are likely exempt from BOI filing to FinCEN.

Confirm your status using FinCEN's Small Entity Compliance Guide.

BOI Compliance Update for SaaS Founders (January 2026) As of FinCEN's interim final rule published March 26, 2025, most U.S.-formed SaaS businesses are now exempt from reporting Beneficial Ownership Information (BOI) under the Corporate Transparency Act (CTA).

FinCEN has revised the definition of 'reporting company' to primarily include foreign entities registered to do business in a U.S. State or Tribal jurisdiction.

Key Actions for SaaS Founders: 1. Verify Exemption: If your company is formed in the U.S., you are likely exempt from BOI filing to FinCEN.

Confirm your status using FinCEN's Small Entity Compliance Guide.

Maintain Records

Even if exempt, securely preserve internal ownership and control records (names, DOB, addresses, ID records, and company applicant info).

Foreign Entities

If your entity is foreign and registered in the U.S., you must file BOI reports. Deadlines vary: entities registered before March 26, 2025, had until April 25, 2025; those registered on or after March 26, 2025, have 30 days from registration notice. 4. Monitor Updates: The regulatory landscape can change. Continuously monitor FinCEN announcements and FAQs for any further rulemaking or reversals. For detailed guidance, refer to FinCEN's official BOI pages and the Small Entity Compliance Guide.