Protect Small Businesses from Excessive Paperwork Act of 2025
Introduced
Moved
Reached a final decision
Introduced 2025-01-24
Derived from the official record below.
Officially: “Protect Small Businesses from Excessive Paperwork Act of 2025” Read the full text
Finance and Financial Sector
What it does
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.
Summary by the Congressional Research Service, from the official record. Plain-language version below. Not legal advice.
Read it in plain language
AI plain language2 sections
Written by AI from the complete official bill text and independently fact-checked against it. Not legal advice.
1Short title
This section gives the Act a short title: the Protect Small Businesses from Excessive Paperwork Act of 2025. It states the name only and does not create any requirement on its own.
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Official text, verbatim from the record
1. Short title
This Act may be cited as the Protect Small Businesses from Excessive Paperwork Act of 2025 .
2Modification to filing deadline for certain pre-existing reporting companies
This section would change the deadline in federal law (31 U.S.C. 5336(b)(1)(B)) for when a reporting company that already existed before the beneficial ownership reporting rules took effect must file its beneficial ownership information report. Under the current rule, a reporting company formed or registered before the effective date of the regulations must file its report not later than 2 years after that effective date. This section would replace that rule so that a reporting company formed or registered before January 1, 2024, would instead have to file its report not later than January 1, 2026.
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Official text, verbatim from the record
2. Modification to 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 of the regulations prescribed under this subsection shall, in a timely manner, and not later than 2 years after the effective date of the regulations prescribed under this subsection, and inserting before January 1, 2024, shall, not later than January 1, 2026, .
The on-site text is shown verbatim from the GovInfo publication, captured 2026-07-23. The same version at GovInfo.
The numbers
29%
of bills that passed one chamber became law in the 118th Congress, 2023 to 2024 (n=939)
13
sponsors, out of 218 needed to pass
Who is lobbying on this
NATIONAL BEER WHOLESALERS ASSOCIATIONvia EB CONSULTING
7 filings
AMERICAN BANKERS ASSOCIATIONvia AMERICAN BANKERS ASSOCIATION
6 filings
CHAMBER OF COMMERCE OF THE U.S.A.via CHAMBER OF COMMERCE OF THE U.S.A.
6 filings
NATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIESvia NATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIES
6 filings
NATIONAL BEER WHOLESALERS ASSOCIATIONvia NATIONAL BEER WHOLESALERS ASSOCIATION
6 filings
NATIONAL LUMBER AND BUILDING MATERIAL DEALERS ASSOCIATIONvia SMITHBUCKLIN CORPORATION
6 filings
NATIONAL SMALL BUSINESS ASSOCIATIONvia NATIONAL SMALL BUSINESS ASSOCIATION
6 filings
AMERICAN FAMILY MUTUAL INSURANCE COMPANY, S.I.via AMERICAN FAMILY MUTUAL INSURANCE COMPANY, S.I.
5 filings
From 49 filings in federal lobbying disclosures (LDA), via lda.gov, naming this bill (2025 to 2026). Filings are self-reported by lobbying firms and show who is paid to influence this bill. They do not say which side, or whether it worked.
Every fact on this page links to its source, starting with the official bill record. Last action: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (2025-02-11).