119 S505 IS: ‘Protect Small Businesses from Excessive Paperwork Act of 2025 U.S. Senate 2025-02-11 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

II119th CONGRESS1st SessionS. 505IN THE SENATE OF THE UNITED STATESFebruary 11, 2025Mr. 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 AffairsA BILLTo 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.

1.

Short title

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

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.