This bill makes the Treasury’s Financial Crimes Enforcement Network (FinCEN) and the Small Business Administration (SBA) work together to help small businesses understand and meet federal “beneficial ownership” reporting rules. These rules require many companies to report who actually owns or controls them, to fight crimes like money laundering and fraud. The goal is to share clear, easy-to-find guidance, cut confusion, and reduce scams aimed at small business owners .

Within 90 days, FinCEN and the SBA must sign a plan to: share guidance in English, Spanish, and other needed languages; post clear links on the SBA homepage; hold in-person town halls and webinars with FinCEN speakers; and warn businesses about fake notices or scam fees. They must review progress every six months and publish the plan online within a week of signing it. They also have to send monthly updates to Congress showing outreach efforts and how many companies are in compliance. A first meeting to start this work is required within 30 days of the law taking effect .

• Who is affected: Companies that have to report their real owners under federal rules; small business groups and trade associations that help them .
• What changes: More plain-language guidance, multilingual resources, official SBA links to FinCEN, free town halls/webinars, and active scam warnings; ongoing coordination to boost compliance .
• When: First meeting within 30 days; formal plan within 90 days; plan posted within 7 days after signing; progress reviews every 6 months; reports to Congress every 30 days .