A BOI (Beneficial Ownership Information) report is a filing to FinCEN under the Corporate Transparency Act that names the people who own or control a US company. As of June 2026, a FinCEN interim final rule exempts US-formed entities and US persons, so only foreign reporting companies file.
How the BOI report works
The report identifies each beneficial owner, the individuals who own at least 25% of a company or exercise substantial control, and is filed directly with FinCEN, the Treasury's financial-crimes bureau.
Under the March 2025 interim final rule, entities formed in the US and US persons are exempt; the requirement now applies only to foreign reporting companies registered to do business in a US state. This is an interim rule with litigation ongoing and a final rule still pending, so the scope can change. Non-compliance can carry civil penalties of roughly $591 per day and criminal penalties up to $10,000 and two years. **Always re-verify the current rule at fincen.gov/boi before relying on any exemption.**
Why it matters for a global or India-based founder
If you form a Wyoming LLC or Delaware C-Corp from outside the US, the current rule means a US-formed company likely has no BOI filing today, but a foreign entity you register into a US state still might.
BOI sits alongside the other federal obligations a foreign-owned US company carries, like the Form 5472 + pro forma 1120 that a foreign-owned single-member LLC must file annually even with zero activity. Treat all of them as one compliance picture rather than separate chores. See the Form 5472 filing rules and how to get an EIN without an SSN.
Where it fits with StableCorp
StableCorp runs the full path on compliant rails, not a grey area: formation, EIN, US bank account, then USD and USDC/USDT payments, with the compliance filings tracked so deadlines do not slip. You can receive USDC from US clients and off-ramp to INR through proper RBI purpose codes. See pricing or how to receive USDC payments from US clients.
This is general information, not tax or legal advice, and BOI rules are time-sensitive; verify current guidance at fincen.gov/boi.
Sources
FinCEN — Beneficial Ownership Information — https://www.fincen.gov/boi
FinCEN — Beneficial Ownership Information Reporting Rule Fact Sheet — https://www.fincen.gov/boi-faqs