Protect Small Businesses from Excessive Paperwork Act of 2025

# Summary of HR 736: Protect Small Businesses from Excessive Paperwork Act of 2025 **What the Bill Does** This bill delays a federal reporting requirement for small and larger businesses. It extends the deadline for companies to file information about their true owners (called "beneficial ownership information") with FinCEN, a Treasury Department agency that fights financial crimes. Companies established before January 1, 2024, would have until January 1, 2026, to submit this information instead of the current deadline of January 1, 2025—giving them one extra year to comply. **Who It Affects and Key Details** The bill primarily affects existing small businesses, corporations, and other business entities formed before 2024.

The beneficial ownership reporting requirement was created to increase transparency and help prevent money laundering and financial fraud. By extending the deadline, the bill aims to reduce paperwork burdens on established businesses while still eventually requiring them to disclose their owners to federal authorities. **Current Status** The bill has passed the House of Representatives. It now moves to the Senate for consideration.