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Senate Bill 505
119th Congress(2025-2026)
‘Protect Small Businesses from Excessive Paperwork Act of 2025
Introduced
Introduced
Introduced in Senate on Feb 11, 2025
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Introduced in Senate 
Feb 11, 2025
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Introduced in Senate(Feb 11, 2025)
Feb 11, 2025
Not Scanned for Linkage
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
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S. 505 (Introduced-in-Senate)


119th CONGRESS
1st Session
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

February 11, 2025

Mr. Scott of South Carolina (for himself, Mr. Rounds, Mr. Moran, Mr. Hagerty, Mr. Ricketts, Mr. Lankford, Mr. Cramer, Ms. Lummis, Mrs. Britt, Mr. Tillis, and Mr. Banks) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

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.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “‘Protect Small Businesses from Excessive Paperwork Act of 2025”.

SEC. 2. Modification of 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” and all that follows through “under this subsection” and inserting “before January 1, 2024, shall, not later than January 1, 2026”.