Requires companies formed or registered before January 1, 2024 to file beneficial ownership reports by January 1, 2026, replacing a deadline that was tied to future regulations.

Official title: Protect Small Businesses from Excessive Paperwork Act of 2025

Next stop Senate: awaiting action

Timeline each lane is a chamber; dates pull from congress.gov actions

House

Introduced 24-JAN-2025

Referred 24-JAN-2025

Passed 10-FEB-2025

Senate

Received 11-FEB-2025

Key points

Replaces the existing deadline, which was two years after the effective date of implementing regulations, with a fixed date of January 1, 2026.
Applies to reporting companies formed or registered before January 1, 2024.
Amends section 5336(b)(1)(B) of title 31, United States Code, and is cited as the Protect Small Businesses from Excessive Paperwork Act of 2025.

AI-generated from the Referred in Senate text of 11-FEB-2025 · verify · report an error

Official CRS summary

Covers an older version. The newest CRS summary describes the bill as of "Introduced in House" (24-JAN-2025); the text has changed since (Engrossed in House, 10-FEB-2025).

CRS is the Library of Congress's nonpartisan research office. Read it on congress.gov

Committee referrals (2)

Financial Services Committee (House)
Banking, Housing, and Urban Affairs Committee (Senate)

Policy area

Finance and Financial Sector

Sponsor Zachary Nunn (R-IA) Cosponsors · 12

■ 10 R■ 2 D

10 Republicans

2 Democrats

congress.gov page Referred in Senate (11-FEB-2025) Engrossed in House (10-FEB-2025) Introduced in House (24-JAN-2025) House: On motion to suspend the rules and pass the bill Agreed to, 408-0, 10-FEB-2025