S 505 · 119th CongressIn Committeecongress.gov ↗

‘Protect Small Businesses from Excessive Paperwork Act of 2025

Share Share Share

Road to The Floor

How it works

Introduced

In Committee

On The Floor

Passed a Chamber

Passed Congress

To President

Became Law

What this bill does

AI plain-language summary

This bill gives certain companies more time to report information about their owners to a government agency called the Financial Crimes Enforcement Network (FinCEN). Companies that were created or registered before January 1, 2024, would now have until January 1, 2026, to submit this information, instead of the original deadline of January 1, 2025.

Sponsor

Sen. Scott, Tim [R-SC]

R

Introduced

February 11, 2025

Policy Area

Finance and Financial Sector

Your Vote

Discussion (0)

Explain what is at stake in this bill.

Sign in to join the discussion.

No comments yet. Be the first.