The U.S. Treasury Department finalized a rule eliminating beneficial-ownership reporting requirements for U.S. companies, including many LLCs and other entities used to own aircraft. ^[1] Domestic companies and U.S. persons are now exempt from the reporting requirement, and FinCEN says it will delete previously submitted information that it reasonably believes belongs to U.S. persons. ^[2] The Financial Crimes Enforcement Network (FinCEN) rule took effect on August 14 under the Corporate Transparency Act. ^[3] The law had required covered companies to provide FinCEN information on their beneficial owners, including names, dates of birth, and addresses. ^[4] The new regulation takes effect on August 14, 2026, clarifying and slightly narrowing the scope of companies required to report beneficial ownership information. ^[5] The rule modifies reporting obligations under the 2021 Corporate Transparency Act (CTA) specifically for domestic aircraft LLCs. ^[6]