Beneficial Ownership Information Reporting Requirements

Forms and Documents

Document Name	Status
Individual FinCEN Identifier - Updated Reports Form	Modified
Individual FinCEN Identifier - Initial Reports Form	Modified
Beneficial Ownership Reports- Updated Reports Form	Modified
Beneficial Ownership Reports- Initial Reports Form	Modified
BOIReportingInterimFinalRuleSupportingStatement FINAL 9_18_2025.docx Supporting Statement A	2025-09-18

IC Document Collections

IC ID	Document Title	Status
250726	Individual FinCEN Identifier - Updated Reports Form	Modified
250725	Individual FinCEN Identifier - Initial Reports Form	Modified
250724	Beneficial Ownership Reports- Updated Reports Form	Modified
250722	Beneficial Ownership Reports- Initial Reports Form	Modified

ICR Details

OMB Control No: 1506-0076	ICR Reference No: 202505-1506-002
Status: Received in OIRA	Previous ICR Reference No: 202309-1506-001
Agency/Subagency: TREAS/FINCEN	Agency Tracking No:
Title: Beneficial Ownership Information Reporting Requirements
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 09/22/2025

	Requested	Previously Approved
Expiration Date	36 Months From Approved	11/30/2026
Responses	133,089	23,519,866
Time Burden (Hours)	86,125	53,319,713
Cost Burden (Dollars)	0	0

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Abstract: On March 26, 2025, FinCEN issued an interim final rule entitled “Beneficial Ownership Information Reporting Requirement Revision and Deadline Extension”(IFR). The IFR revised the information collection requirements in 31 CFR 1010.380, and FinCEN is submitting this information collection request to support revisions to 31 CFR 1010.380. The attached supporting statement, included with this information collection request, identifies the estimated burden hours for the OMB control number associated with these revised requirements.

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Authorizing Statute(s): PL: Pub.L. 116 - 283 6403 Name of Law: Corporate Transparency Act
  

Citations for New Statutory Requirements: PL: Pub.L. 116 - 283 6403 Name of Law: Corporate Transparency Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1506-AB49	Final or interim final rulemaking	90 FR 13688	03/26/2025

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 4

IC Title	Form No.	Form Name
Beneficial Ownership Reports- Initial Reports	N/A	Beneficial Ownership Information Report
Beneficial Ownership Reports- Updated Reports	N/A	Beneficial Ownership Information Report
Individual FinCEN Identifier - Initial Reports	N/A	FinCEN Identifier Application
Individual FinCEN Identifier - Updated Reports	N/A	FinCEN Identifier Application

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ICR Summary of Burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	133,089	23,519,866	0	-23,386,777	0	0
Annual Time Burden (Hours)	86,125	53,319,713	0	-53,233,588	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Changing Regulations

Short Statement: The estimated change in total reporting burden hours, for PRA purposes on a going-forward basis, is a reduction from the previous ICR summary of burden by approximately 53 million burden hours per year, on average, rounded to the nearest million. The burden estimate has decreased due to the IFR narrowing the Reporting Rule’s BOI reporting requirement where domestic entities previously defined as “domestic reporting companies” are excluded, and foreign entities are no longer required to report the BOI of any U.S. persons who are beneficial owners of a foreign reporting company. The IFR has substantially decreased the scope and number of reporting companies, particularly with respect to domestic and foreign entities previously subject to the Reporting Rule. The estimated change in total reporting cost is a reduction by approximately $9 billion dollars per year, on average, rounded to the nearest billion. The estimated annual cost to the Federal government is expected to decrease by approximately $8 million.

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Annual Cost to Federal Government: $27,600,000

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     Yes

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 09/22/2025

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