Are some companies exempt from the reporting requirement?

Yes, 23 types of entities are exempt from the beneficial ownership information reporting requirements. These entities include publicly traded companies meeting specified requirements, many nonprofits, and certain large operating companies. The following table summarizes the 23 exemptions: Exemption No. Exemption Short Title 1 Securities reporting issuer 2 Governmental authority 3 Bank 4 Credit union 5 Depository institution holding company 6 Money services business 7 Broker or dealer in securities 8 Securities exchange or clearing agency 9 Other Exchange Act registered entity 10 Investment company or investment adviser 11 Venture capital fund adviser 12 Insurance company 13 State-licensed insurance producer 14 Commodity Exchange Act registered entity 15 Accounting firm 16 Public utility 17 Financial market utility 18 Pooled investment vehicle 19 Tax-exempt entity 20 Entity assisting a tax-exempt entity 21 Large operating company 22 Subsidiary of certain exempt entities 23 Inactive entity FinCEN’s Small Entity Compliance Guide includes this table and checklists for each of the 23 exemptions that may help determine whether a company meets an exemption (see Chapter 1.2, “Is my company exempt from the reporting requirements?”). Companies should carefully review the qualifying criteria before concluding that they are exempt. Please see additional FAQs about reporting company exemptions in “L. Reporting Company Exemptions” below.