S. 505: ‘Protect Small Businesses from Excessive Paperwork Act of 2025
Latest action, February 11, 2025: Introduced in Senate
Official 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.