‘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.

How would you vote on this bill?

Yes No

Bill Progress

Bill has been introduced and assigned a number

Introduced(2/11/25)

Committee

Passed House

Passed Senate

President

Law

Sponsor

Mr. Scott

Senate (R) South Carolina

Cosponsors (12)

Ricketts

Senate (R) Nebraska

Lummis

Senate (R) Wyoming

Lankford

Senate (R) Oklahoma

Tillis

Senate (R) North Carolina

Banks

Senate (R) Indiana

Moreno

Senate (R) Ohio

Crapo

Senate (R) Idaho

Cramer

Senate (R) North Dakota

Rounds

Senate (R) South Dakota

Moran

Senate (R) Kansas

Latest Action

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

Feb 11, 2025

View Bill on Congress.gov