The U.S. government has narrowed the scope of beneficial ownership information (BOI) filing requirements to only foreign entities. An interim final rule issued by FinCEN removes the requirement for U.S. companies and individuals to report BOI under the Corporate Transparency Act. The rule now defines “reporting company” as foreign entities registered to do business in the U.S. and exempts domestic companies and U.S. persons from reporting requirements. Additionally, it delays the filing deadline for foreign entities already doing business in the U.S. by 30 days and sets a 30-day deadline for future foreign entities to file an initial BOI report.