This bill extends the deadline for certain companies to submit beneficial ownership information reports if they were affected by Hurricane Helene or Milton. Normally, companies must file these reports to help combat money laundering and financial fraud, but this legislation allows affected businesses to delay their submissions until January 1, 2026. The bill applies to reporting companies located in areas where the President declared a major disaster related to either hurricane. By providing additional time, the legislation aims to reduce compliance burdens on businesses still recovering from the natural disasters. The Treasury Secretary will determine which companies qualify for this extension based on their location in officially declared disaster areas.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.