‘Protect Small Businesses from Excessive Paperwork Act of 2025

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 505 Introduced in Senate (IS)]

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119th CONGRESS
  1st Session
                                 S. 505

   To amend title 31, United States Code, to modify the deadline for 
filing beneficial ownership information reports for reporting companies 
              formed or registered before January 1, 2024.


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                   IN THE SENATE OF THE UNITED STATES

                           February 11, 2025

 Mr. Scott of South Carolina (for himself, Mr. Rounds, Mr. Moran, Mr. 
   Hagerty, Mr. Ricketts, Mr. Lankford, Mr. Cramer, Ms. Lummis, Mrs. 
Britt, Mr. Tillis, and Mr. Banks) introduced the following bill; which 
 was read twice and referred to the Committee on Banking, Housing, and 
                             Urban Affairs

_______________________________________________________________________

                                 A BILL


 
   To amend title 31, United States Code, to modify the deadline for 
filing beneficial ownership information reports for reporting companies 
              formed or registered before January 1, 2024.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ```Protect Small Businesses from 
Excessive Paperwork Act of 2025''.

SEC. 2. MODIFICATION OF FILING DEADLINE FOR CERTAIN PRE-EXISTING 
              REPORTING COMPANIES.

    Section 5336(b)(1)(B) of title 31, United States Code, is amended 
by striking ``before the effective date'' and all that follows through 
``under this subsection'' and inserting ``before January 1, 2024, 
shall, not later than January 1, 2026''.
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