II
119THCONGRESS
1
STSESSION S. 505
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.
IN THE SENATE OF THE UNITED STATES
FEBRUARY11, 2025
Mr. S
COTTof South Carolina (for himself, Mr. ROUNDS, Mr. MORAN, Mr.
H
AGERTY, Mr. RICKETTS, Mr. LANKFORD, Mr. CRAMER, Ms. LUMMIS,
Mrs. B
RITT, Mr. TILLIS, and Mr. BANKS) introduced the following bill;
which was read twice and referred to the Committee on Banking, Hous-
ing, and Urban Affairs
A BILL
To amend title 31, United States Code, to modify the dead-
line for filing beneficial ownership information reports
for reporting companies formed or registered before Jan-
uary 1, 2024.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘‘Protect Small Busi-4
nesses from Excessive Paperwork Act of 2025’’. 5
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•S 505 IS
SEC. 2. MODIFICATION OF FILING DEADLINE FOR CERTAIN 1
PRE-EXISTING REPORTING COMPANIES. 2
Section 5336(b)(1)(B) of title 31, United States 3
Code, is amended by striking ‘‘before the effective date’’ 4
and all that follows through ‘‘under this subsection’’ and 5
inserting ‘‘before January 1, 2024, shall, not later than 6
January 1, 2026’’. 7
Æ
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