S 505
‘Protect Small Businesses from Excessive Paperwork Act of 2025
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill, the ‘Protect Small Businesses from Excessive Paperwork Act of 2025,’ aims to provide small businesses with more time to comply with regulations regarding beneficial ownership information. It extends the deadline for companies that were already formed or registered before January 1, 2024, to submit reports to the Financial Crimes Enforcement Network (FinCEN). Currently, these companies had to submit their reports by January 1, 2025, but this bill pushes that deadline to January 1, 2026. This change is intended to reduce the administrative burden on smaller businesses.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsors
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.