‘Protect Small Businesses from Excessive Paperwork Act of 2025

Summary

Official

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.

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Bill Progress

Bill has been introduced and assigned a number

Introduced(2/11/25)

Committee

Passed House

Passed Senate

President

Law

Sponsor

Mr. Nunn

House (R) Iowa – 3

Cosponsors (12)

De La Cruz

House (R) Texas

Davis

House (D) North Carolina

Emmer

House (R) Minnesota

Barr

House (R) Kentucky

Davids

House (D) Kansas

Downing

House (R) Montana

Meuser

House (R) Pennsylvania

Steil

House (R) Wisconsin

Salazar

House (R) Florida

Huizenga

House (R) Michigan

Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Feb 11, 2025

View Bill on Congress.gov

Votes

House of Representatives

Feb 10, 2025

On Motion to Suspend the Rules and Pass

408 Yes0 No

Passed