Press Release from Idaho Secretary of State
We are pleased to inform you of a significant update regarding the Corporate Transparency Act (CTA) requirements for businesses in Idaho and across the United States.
On March 21, 2025, the U.S. Department of the Treasury issued an interim final rule eliminating the Beneficial Ownership Information (BOI) reporting requirement under the CTA for business entities created in the United States. This decision follows sustained efforts by Secretary of State Phil McGrane and other leaders to highlight the unnecessary burden these requirements placed on small businesses. After hearing these concerns, the federal government has finally acted to relieve small businesses of this reporting obligation. Thanks to these efforts, Idaho businesses are no longer required to submit BOI reports.
For more information regarding Beneficial Ownership Information reporting visit Fin CEN: https://www.fincen.gov/boi
You may also submit comments or questions by contacting FinCEN.
Our office is hopeful that this will be our final update regarding the Corporate Transparency Act (CTA). We appreciate your patience during this process.
