S 505 · ‘Protect Small Businesses from Excessive Paperwork Act of 2025
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Introduced
- Feb 11, 2025
- Latest action
- Feb 11, 2025
- Sponsor
- Sen. Tim Scott [R-SC]
- Policy area
- Finance and Financial Sector
- Cosponsors
- 12
Summary
Protect Small Businesses from Excessive Paperwork Act of 2025 This bill extends the deadline for certain companies that are required to file beneficial ownership information with the Financial Crimes Enforcement Network (FinCEN). Specifically, the bill requires companies formed or registered before January 1, 2024, to submit this information to FinCEN by January 1, 2026, instead of by January 1, 2025, as required under current regulations.
Recent actions
- Feb 11, 2025 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Feb 11, 2025 Introduced in Senate
Votes
No recorded votes are available for this bill.