| 1 | 1 | | II |
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| 2 | 2 | | 119THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION S. 505 |
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| 5 | 5 | | To amend title 31, United States Code, to modify the deadline for filing |
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| 6 | 6 | | beneficial ownership information reports for reporting companies formed |
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| 7 | 7 | | or registered before January 1, 2024. |
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| 8 | 8 | | IN THE SENATE OF THE UNITED STATES |
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| 9 | 9 | | FEBRUARY11, 2025 |
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| 10 | 10 | | Mr. S |
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| 11 | 11 | | COTTof South Carolina (for himself, Mr. ROUNDS, Mr. MORAN, Mr. |
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| 12 | 12 | | H |
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| 13 | 13 | | AGERTY, Mr. RICKETTS, Mr. LANKFORD, Mr. CRAMER, Ms. LUMMIS, |
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| 14 | 14 | | Mrs. B |
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| 15 | 15 | | RITT, Mr. TILLIS, and Mr. BANKS) introduced the following bill; |
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| 16 | 16 | | which was read twice and referred to the Committee on Banking, Hous- |
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| 17 | 17 | | ing, and Urban Affairs |
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| 18 | 18 | | A BILL |
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| 19 | 19 | | To amend title 31, United States Code, to modify the dead- |
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| 20 | 20 | | line for filing beneficial ownership information reports |
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| 21 | 21 | | for reporting companies formed or registered before Jan- |
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| 22 | 22 | | uary 1, 2024. |
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| 23 | 23 | | Be it enacted by the Senate and House of Representa-1 |
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| 24 | 24 | | tives of the United States of America in Congress assembled, 2 |
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| 25 | 25 | | SECTION 1. SHORT TITLE. 3 |
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| 26 | 26 | | This Act may be cited as the ‘‘‘Protect Small Busi-4 |
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| 27 | 27 | | nesses from Excessive Paperwork Act of 2025’’. 5 |
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| 28 | 28 | | VerDate Sep 11 2014 04:51 Mar 07, 2025 Jkt 059200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S505.IS S505 |
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| 29 | 29 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB 2 |
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| 30 | 30 | | •S 505 IS |
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| 31 | 31 | | SEC. 2. MODIFICATION OF FILING DEADLINE FOR CERTAIN 1 |
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| 32 | 32 | | PRE-EXISTING REPORTING COMPANIES. 2 |
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| 33 | 33 | | Section 5336(b)(1)(B) of title 31, United States 3 |
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| 34 | 34 | | Code, is amended by striking ‘‘before the effective date’’ 4 |
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| 35 | 35 | | and all that follows through ‘‘under this subsection’’ and 5 |
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| 36 | 36 | | inserting ‘‘before January 1, 2024, shall, not later than 6 |
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| 37 | 37 | | January 1, 2026’’. 7 |
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| 38 | 38 | | Æ |
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| 39 | 39 | | VerDate Sep 11 2014 04:51 Mar 07, 2025 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\S505.IS S505 |
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| 40 | 40 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB |
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