S 5414
Small Business Reporting Flexibility Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill aims to delay and modify the implementation of requirements for businesses to report beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN). It prevents FinCEN from using funds to enforce these reporting rules until they postpone a required report, finalize all related regulations, and allow businesses to submit the report through mail instead of electronic means. The goal is to provide small businesses with more flexibility and time to adapt to the new reporting requirements.
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