Bill > HR736

This bill modifies the deadline for filing beneficial ownership information reports for companies that were formed or registered before January 1, 2024. Specifically, the bill amends existing law to extend the filing deadline for these pre-existing "reporting companies" from the previously specified two-year window after regulation implementation to a fixed date of January 1, 2026. The bill, titled the "Protect Small Businesses from Excessive Paperwork Act of 2025," aims to give small businesses more time to comply with beneficial ownership reporting requirements, which are part of efforts to increase transparency and prevent financial crimes like money laundering by requiring companies to disclose their true ownership structure to the government. By providing a clear, extended deadline, the bill helps ensure that smaller businesses have adequate time to gather and submit the necessary ownership information without facing undue administrative burdens.

Business and Industry, Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/house-bill/736/all-info