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S. 505

BillFederalSenateIn Committee
‘Protect Small Businesses from Excessive Paperwork Act of 2025
About This Bill
Committee
Latest Action · February 11, 2025
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Congress
119th (2025–2027)
Introduced
February 11, 2025
Sponsor
Sen. Tim ScottR
Cosponsors (12)
0D 12R
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Summary

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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.

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