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FinCEN Permanently Ends BOI Reporting for U.S. Companies and U.S. Persons Under the Corporate Transparency Act 

On August 11, 2026, the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule permanently removing the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) under the Corporate Transparency Act (CTA). FinCEN states that U.S. companies are now exempt from BOI reporting requirements and no longer need to file BOI reports. The final rule also relieves U.S. persons from providing BOI to reporting companies and from updating or correcting information previously submitted to obtain a FinCEN identifier. For many domestic businesses, this marks a significant compliance shift—but foreign entities registered to do business in the United States may still have BOI obligations.

What Changed? 

FinCEN’s final rule makes permanent the relief first announced in the March 2025 interim final rule. Under the final rule, U.S. companies are exempt from BOI reporting requirements and therefore are no longer required to file BOI reports. Reporting companies also do not need to report BOI for U.S. person beneficial owners or U.S. person company applicants, and U.S. persons do not need to provide BOI to reporting companies. 

FinCEN also announced that U.S. persons with FinCEN identifiers are not required to update or correct the information they previously submitted to FinCEN. This is important for individuals who filed BOI information before the rule changed and who otherwise may have expected ongoing update obligations.

Who Still Has BOI Reporting Obligations? 

The final rule does not eliminate […]

By |2026-08-14T11:56:34-04:00August 14, 2026|Enforcement, International Business, International Law, news|0 Comments
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Five Tips for SMEs Looking to Scale Wellness Brands in the US

DTL President Jennifer Diaz was featured in Santander Navigator! Read below or on Santander here.

Pre-planning and investing in regulatory compliance measures are key to success

The US is the most lucrative wellness market in the world – and for some small and medium-sized enterprises (SMEs) that produce supplements, the potential for growth and a bigger bottom line is difficult to ignore. 

And who would blame them? The US wellness sector is valued at US$2tn and is poised to continue growing, recording an average annual growth rate of 8.3% between 2019 and 2023, according to research by the Global Wellness Institute. 

In contrast, China’s market, ranked the second-largest in the world, trails at a more modest US$870bn, followed by Germany at $310bn.

However, rushing in without being fully compliant could result in products being blacklisted or seized at the border, says Jennifer Diaz, an attorney and founding partner at Miami-based Diaz Trade Law, which specializes in customs and US Food and Drug Administration (FDA) laws and compliance.

Here, Diaz offers her top five tips for new brands to stay compliant and off the FDA’s blacklist.

1. Know the regulators

One of the first steps for SMEs planning to import supplements into the US is to register with the FDA, as they are considered a food product, Diaz says.

Companies also need to designate […]

By |2025-06-17T08:01:40-04:00June 17, 2025|Best Practices, Import Alert, International Business, International Trade, Labeling, Pre-compliance|0 Comments
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Customs Bulletin Weekly, Vol. 56, November 16, 2022, No. 45

Below is a recap for this week’s Customs Bulletin.

  • African Growth and Opportunity Act (AGOA) Textile Certificate of Origin
    • The African Growth and Opportunity Act (AGOA) was adopted by the U.S. with the enactment of the Trade and Development Act of 2000 (Pub. L. 106–200). The objectives of AGOA are (1) to provide for extension of duty-free treatment under the Generalized System of Preferences (GSP) to import sensitive articles normally excluded from GSP duty treatment, and (2) to provide for the entry of specific textile and apparel articles free of duty and free of any quantitative limits from eligible countries of sub-Saharan Africa.
    • For preferential treatment of textile and apparel articles under AGOA, the exporter or producer is required to prepare a certificate of origin and provide it to the importer. The certificate of origin includes information such as name and address of the exporter, producer, and importer; the basis for which preferential treatment is claimed; and a description of the imported article(s). The importers are required to have the certificate in their possession at the time of the claim, and to provide it to Customs and Border Protection (CBP) upon request. The collection of this information is provided for in 19 CFR 10.214, 10.215, and 10.216.
    • CBP invites the general public and other Federal agencies to comment on the proposed and/or continuing information collections pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.). This proposed information collection was previously published in the Federal Register […]
By |2022-11-18T16:33:44-05:00November 21, 2022|COVID-19, Import, International Business, International Law, International Trade, U.S. Customs and Border Protection (CBP), U.S. Office of the United States Trade Representative (USTR)|0 Comments
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Customs Bulletin Weekly, Vol. 56, November 9, 2022, No. 44

Below is a recap for this week’s Custom’s Bulletin.

  • Proposed Revocation of Three Ruling Letters and Proposed Revocation of Treatment Relating to the Tariff Classification of Wireless Headphone Sets from China and an Undisclosed Country
    • In NY N022195, NY N022204 and NY N240329, CBP classified wireless headphone sets in heading 8517, HTSUS, specifically in subheading 8517.62.00, HTSUS, which provides for “Other apparatus for transmission or reception of voice, images or other data, including apparatus for communication in a wired or wireless network (such as a local or wide area network): Machines for the reception, conversion and transmission or regeneration of voice, images or other data, including switching and routing apparatus.” CBP has reviewed NY N022195, NY N022204 and NY N240329, and has determined the ruling letters to be in error.
    • It is now CBP’s position that the wireless headphone sets are properly classified in heading 8518, HTSUS, specifically in subheading 8518.30.20, HTSUS, which provides for “Microphones and stands therefor; loudspeakers, whether or not mounted in their enclosures; headphones and earphones, whether or not combined with a microphone, and sets consisting of a microphone and one or more loudspeakers; audio-frequency electric amplifiers; electric sound amplifier sets; parts thereof: Headphones and earphones, whether or not combined with a microphone, and sets consisting of a microphone and one or more loudspeakers: Other.”
  • Country of Origin Marking Requirements for Containers or Holders
    • Section 304 of the Tariff Act of 1930, as amended, 19 U.S.C. 1304, requires each imported article of foreign origin, […]
By |2022-11-10T12:24:52-05:00November 14, 2022|AD/CVD, Country of Origin, Customs Broker, Export, Import, International Business, International Law, International Trade, U.S. Customs and Border Protection (CBP), U.S. Department of Commerce (DOC)|0 Comments
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Customs Bulletin Weekly, Vol. 56, October 26, 2022, No. 42

Below is a recap for this week’s Custom’s Bulletin.

  • Period of Admission and Extensions of Stay for Representatives of Foreign Information Media Seeking to Enter the United States
    • This rule amends Department of Homeland Security (DHS) regulations to better facilitate the U.S. Government’s ability to achieve greater reciprocity between the United States and the People’s Republic of China (PRC) relative to the treatment of representatives of foreign information media of the respective countries seeking entry into the other country.
    • For entry into the United States, such foreign nationals would seek to be admitted in I nonimmigrant status as bona fide representatives of foreign information media. Currently, foreign nationals who present a passport issued by the PRC, with the exception of Hong Kong Special Administrative Region (SAR) or Macau SAR passport holders, may be admitted in or otherwise granted I nonimmigrant status until the activities or assignments consistent with the I classification are completed, not to exceed 90 days.
    • This rule amends the DHS regulations to remove the set period of stay of up to 90 days and to allow the Secretary of Homeland Security (Secretary) to determine the maximum period of stay, no longer than one year, for PRC I visa holders, taking into account certain factors.
    • This rule also announces the Secretary has determined the maximum period of stay for which a noncitizen who presents a passport issued by the PRC (other than a Hong Kong SAR passport or a Macau SAR passport) may be admitted in or […]
By |2022-10-27T09:55:45-04:00October 31, 2022|AD/CVD, HTSUS, Import, International Business, International Law, International Trade, International Travel, U.S. Customs and Border Protection (CBP), U.S. Department of Commerce, U.S. Department of Commerce (DOC)|0 Comments
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