II
119th CONGRESS
1st Session
S. 505
IN THE SENATE OF THE UNITED STATES
February 11, 2025
Mr. 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 Affairs
A BILL
To 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.
Short title
This Act may be cited as the ‘Protect Small Businesses from Excessive Paperwork Act of 2025
.
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
.