H.R. 736 · Passed House · Finance and Financial Sector

Protect Small Businesses from Excessive Paperwork Act of 2025

Sponsor: Zachary Nunn (R-IA)

What it does

• Extend the beneficial ownership information filing deadline to January 1, 2026 for companies formed or registered before January 1, 2024
• Allow affected companies one additional year to comply with Financial Crimes Enforcement Network (FinCEN) beneficial ownership reporting requirements

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.

Latest action

Feb 11, 2025: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Committee: Senate Banking, Housing, and Urban Affairs