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S. 505 119th Congress Senate

‘Protect Small Businesses from Excessive Paperwork Act of 2025

Official title: 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.

Introduced: February 11, 2025 Introduced by: Tim Scott Republican · South Carolina See on congress.gov
Finance and Financial Sector Business recordsCorporate finance and managementLicensing and registrationsSmall business
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 11, 2025
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Feb 11, 2025
Introduced in Senate
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What's happening now February 11, 2025

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

 Plain-English summary Congressional Research Service

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.

 Related & companion bills 1
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Lobbying activity 19

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

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APA
U.S. Congress. (2026). S. 505: ‘Protect Small Businesses from Excessive Paperwork Act of 2025. 119th Congress. Open America. https://openamerica.io/bill/119-S-505/
MLA
"S. 505: ‘Protect Small Businesses from Excessive Paperwork Act of 2025." 119th Congress, 2026, Open America, https://openamerica.io/bill/119-S-505/.
Bluebook (legal)
S. 505, 119th Cong. (2026), https://openamerica.io/bill/119-S-505/.
Markdown link
[S. 505: ‘Protect Small Businesses from Excessive Paperwork Act of 2025](https://openamerica.io/bill/119-S-505/)
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