‘Protect Small Businesses from Excessive Paperwork Act of 2025

Sponsored bySen. Scott, Tim [R-SC]SC· Introduced 11 février 2025

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Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

11 février 2025·1 year ago

Summary

Introduced in Senate · Updated 26 septembre 2025

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.

Timeline

2 actions

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
11 février 2025 · IntroReferral
Introduced in Senate
11 février 2025 · IntroReferral

Sponsorship

12 cosponsors

Sponsor

Sen. Scott, Tim [R-SC]SC

Cosponsors

Republican12100%

Republican:Sen. Crapo, Mike [R-ID]ID
Republican:Sen. Moreno, Bernie [R-OH]OH
Republican:Sen. Hagerty, Bill [R-TN]TN
Republican:Sen. Moran, Jerry [R-KS]KS
Republican:Sen. Britt, Katie Boyd [R-AL]AL
Republican:Sen. Tillis, Thomas [R-NC]NC
Republican:Sen. Lummis, Cynthia M. [R-WY]WY
Republican:Sen. Lankford, James [R-OK]OK
Republican:Sen. Ricketts, Pete [R-NE]NE
Republican:Sen. Rounds, Mike [R-SD]SD
Republican:Sen. Banks, Jim [R-IN]IN
Republican:Sen. Cramer, Kevin [R-ND]ND

Classification

Policy area

Finance and Financial Sector

Legislative subjects

Business recordsCorporate finance and managementLicensing and registrationsSmall business

Cosponsor momentum

Cumulative over time

Track ‘Protect Small Businesses from Excessive Paperwork Act of 2025 as it moves through Congress