Risk, Compliance & Financial Integrity in the United States

Full guide · Source-checked research100% of statements checked against a source127 checked against an official source2 checked against a secondary sourceChecked 2026-10-19Not yet professionally reviewed

• FinCEN's final beneficial ownership information (BOI) rule, effective 14 August 2026, permanently exempts US companies from BOI reporting and removes the need to report US persons as beneficial owners.

  Federal rule under the Corporate Transparency Act. Applies nationwide; makes permanent the exemptions first introduced by the interim final rule of 26 March 2025.Financial Crimes Enforcement Network (FinCEN), US Department of the Treasury · checked 2026-10-18

• Foreign reporting companies must still report beneficial ownership information to FinCEN for their foreign individual beneficial owners.

  Foreign reporting company: an entity formed under foreign law that has registered to do business in a US state or tribal jurisdiction. US person beneficial owners are not reported.Financial Crimes Enforcement Network (FinCEN), US Department of the Treasury · checked 2026-10-18

• A foreign entity that registers to do business in a US state on or after 26 March 2025 has 30 calendar days to file its initial BOI report after receiving notice that its registration is effective.

  Deadline stated under the March 2025 interim final rule; FinCEN states the final rule imposes no reporting requirements beyond those already in effect.Financial Crimes Enforcement Network (FinCEN), US Department of the Treasury · checked 2026-10-18

• Under the final rule, foreign reporting companies no longer have to report US person company applicants, and US persons holding FinCEN IDs no longer have to update or correct their information.

  Federal; changes made by the final rule in addition to those in the interim final rule.Financial Crimes Enforcement Network (FinCEN), US Department of the Treasury · checked 2026-10-18

• The penalty for failing to file Form 5472, or to keep the required records, is $25,000 per reporting corporation, with a further $25,000 for each 30-day period the failure continues more than 90 days after IRS notification.

  Federal. A substantially incomplete Form 5472 counts as a failure to file.Internal Revenue Service (IRS) · checked 2026-10-18

• Employers must verify that each new employee is legally eligible to work in the US, including by completing USCIS Form I-9.

  Federal; applies to every new hire, whatever their nationality.Internal Revenue Service (IRS) · checked 2026-10-18

• Job misclassification occurs when a company incorrectly treats a worker as an independent contractor instead of an employee.

  Federal and state; tests differ between federal tax, federal wage law and state law.USAGov (official US federal government information portal) · checked 2026-10-18

• The US Department of Justice Data Security Program, issued under Executive Order 14117 and codified at 28 CFR Part 202, took effect on 8 April 2025 and prohibits or restricts certain transactions that give countries of concern or covered persons access to Americans' bulk sensitive personal data or US government-related data.

  Federal. Applies to US persons, including US companies and their staff. Due-diligence, audit and reporting duties for restricted transactions took effect on 5 October 2025 per the DOJ page.US Department of Justice, National Security Division · checked 2026-10-18

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