Are certain companies exempt from beneficial ownership information (BOI) reporting requirements?

Yes. All domestic entities created in the United States, and their beneficial owners, are exempt from the requirement to file initial BOI reports, or to update or correct previously filed BOI reports. This includes companies previously known as “domestic reporting companies.” Additionally, the Corporate Transparency Act and its implementing regulations also exempt various other types of entities from the BOI reporting requirements, even if created in a foreign country.