Requires the Small Business Administration (SBA) Administrator and the Financial Crimes Enforcement Network (FinCEN) Director to quickly sign and publish a written memorandum of understanding (MOU) to coordinate outreach, information-sharing, and assistance related to beneficial ownership reporting. The MOU must cover outreach methods (including language access and scam-prevention), website links, use of field offices and liaisons, and must be reviewed at least every six months.

Also requires joint progress reports to certain congressional committees within 30 days after the MOU is signed and every 30 days thereafter, with counts/estimates of companies reached and compliance status, a description of recent outreach and assistance, and plans for the next 30 days.