Do telecommunications fall under the exemption to reporting requirements for public utilities?

Last modified 7/26/2024 3:15:40 AM EST

According to FinCEN’s rules, certain entities classified as regulated public utilities under U.S. tax law are exempt from reporting their BOI to FinCEN. These utilities provide telecommunications, electricity, natural gas, or water and sewer services within the U.S. For example, this exemption covers corporations that provide telephone or telegraph services at rates that meet specific requirements outlined in the tax law.