Protect Small Businesses from Excessive Paperwork Act of 2025
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Topic: Finance and Financial Sector
Sponsor: Rep. Nunn, Zachary [R-IA-3] (R) - IA
Summary
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.
Legislative Subjects
Business records; Corporate finance and management; Finance and Financial Sector; Licensing and registrations; Small business
Latest Action
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2025-02-11
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