The Financial Crimes Enforcement Network (FinCEN) should soon finalize its interim rule restricting beneficial ownership information (BOI) reporting requirements to foreign companies, the head of the agency told Congress. “FinCEN will very soon finalize the interim final rule on the beneficial ownership information reporting regime,” FinCEN Director Andrea Gacki told the House Financial Services Subcommittee on National Security, Illicit Finance, and International Financial Institutions. When Rep. Andy Barr, R-Ky., asked if FinCEN would issue a final rule this year, Gacki responded that she was “very optimistic.” As part of the final rule, FinCEN will address concerns that BOI information already collected from small businesses will be deleted, Gacki said. Treasury’s interim final rule, issued in March 2025, suspended BOI reporting, as included in the Corporate Transparency Act (CTA), for domestic companies and U.S. citizens, leaving only foreign-owned companies covered.