‘Protect Small Businesses from Excessive Paperwork Act of 2025
The summary
What this bill does
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.
Legislative timeline
From introduction
Feb 11, 2025
Introduced & referred to committee
Congressional support
Sponsors & Cosponsors
U.S. Representative - SC · R-SC
12 cosponsors
U.S. Senator - South Dakota · R-SD
U.S. Representative - KS · R-KS
U.S. Representative - TN · R-TN
U.S. Representative - NE · R-NE
U.S. Representative - OK · R-OK
U.S. Representative - ND · R-ND
U.S. Representative - WY · R-WY
U.S. Representative - AL · R-AL
U.S. Representative - NC · R-NC
U.S. Representative - IN · R-IN
U.S. Senator - Ohio · R-OH
U.S. Representative - Idaho District 2 · R-ID
Roll-call vote
The vote, by member
The vote, by member
VERSION CHANGES
What changed,
and where.
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Bill Metadata
| Congress | 119 |
| Bill Type | S |
| Bill Number | 505 |
| Origin Chamber | Senate |
| Current Status | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
| Policy Area | Finance and Financial Sector |
| Primary Committee | Not assigned |
| Introduced | February 11, 2025 |
| Latest Action | February 11, 2025 |
| Cosponsors | 12 · House vote — · — views |