Protect Small Businesses from Excessive Paperwork Act of 2025

Bill: 119-hr-736
Sponsor: full_name: Rep. Nunn, Zachary [R-IA-3]
Introduced: 2025-01-24
Policy area: Finance and Financial Sector
Subjects: Business records

Corporate finance and management

Licensing and registrations

Small business
Latest action: action_date: 2025-02-11
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2025-01-24
action_desc: Introduced in House
text: <p><strong>Protect Small Businesses from Excessive Paperwork Act of 2025</strong></p><p>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,&nbsp;as required under current regulations.</p>

tv_txt: IIB 119th CONGRESS 1st Session H. R. 736 IN THE SENATE OF THE UNITED STATES February 11, 2025 Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs AN ACT To amend title 31, United States Code, to modify the deadline for filing beneficial ownership information reports for reporting companies formed or registered before January 1, 2024.

1. Short title This Act may be cited as the Protect Small Businesses from Excessive Paperwork Act of 2025 . 2. Modification to filing deadline for certain pre-existing reporting companies Section 5336(b)(1)(B) of title 31, United States Code, is amended by striking before the effective date of the regulations prescribed under this subsection shall, in a timely manner, and not later than 2 years after the effective date of the regulations prescribed under this subsection, and inserting before January 1, 2024, shall, not later than January 1, 2026, .

Passed the House of Representatives February 10, 2025. Kevin F. McCumber, Clerk.

tv_txt: I 119th CONGRESS 1st Session H. R. 736 IN THE HOUSE OF REPRESENTATIVES AN ACT To amend title 31, United States Code, to modify the deadline for filing beneficial ownership information reports for reporting companies formed or registered before January 1, 2024.

1. Short title This Act may be cited as the Protect Small Businesses from Excessive Paperwork Act of 2025 . 2. Modification to filing deadline for certain pre-existing reporting companies Section 5336(b)(1)(B) of title 31, United States Code, is amended by striking before the effective date of the regulations prescribed under this subsection shall, in a timely manner, and not later than 2 years after the effective date of the regulations prescribed under this subsection, and inserting before January 1, 2024, shall, not later than January 1, 2026, .

Passed the House of Representatives February 10, 2025. Kevin F. McCumber, Clerk.

tv_txt: I 119th CONGRESS 1st Session H. R. 736 IN THE HOUSE OF REPRESENTATIVES January 24, 2025 Mr. Nunn of Iowa (for himself, Ms. Davids of Kansas , Mr. Emmer , and Mr. Davis of North Carolina ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend title 31, United States Code, to modify the deadline for filing beneficial ownership information reports for reporting companies formed or registered before January 1, 2024.

1. Short title This Act may be cited as the Protect Small Businesses from Excessive Paperwork Act of 2025 . 2. Modification to filing deadline for certain pre-existing reporting companies Section 5336(b)(1)(B) of title 31, United States Code, is amended by striking before the effective date of the regulations prescribed under this subsection shall, in a timely manner, and not later than 2 years after the effective date of the regulations prescribed under this subsection, and inserting before January 1, 2024, shall, not later than January 1, 2026, .