Current beneficial ownership reporting rules
Updated October 18, 2026. On August 11, 2026, FinCEN issued a final rule that removed the Corporate Transparency Act beneficial ownership information reporting requirement for companies created in the United States and for U.S. persons. Certain foreign-formed entities registered to do business in the United States may still have reporting obligations, subject to the rule’s definitions and exemptions.
Requirements can depend on an organization’s formation and registration details. Review FinCEN’s current guidance before taking action, and consult qualified legal or tax counsel for advice about a specific entity.
Bank account due diligence is separate
FinCEN reporting and a bank’s customer due diligence are separate processes. When opening or maintaining a business account, Noven CreditUnion may request ownership, identity, and business information under applicable requirements. Provide sensitive information only through the secure channel Noven CreditUnion identifies for your request. Do not send account credentials or identity documents through ordinary email or the general contact form.
Where to find reliable updates
