Improving Disclosure for Investors Act of 2025

This bill makes it easier for firms to send required investment documents to you by email or online, while keeping a paper option. It tells the SEC to write rules within one year so companies can deliver these documents electronically, with clear standards for readability, saving, and fixing failed deliveries. You can opt out at any time to keep getting paper. It does not change what has to be sent or when—only how it’s delivered. If the SEC misses the deadline, firms may still switch to electronic delivery under the bill’s safeguards.

To move people over smoothly, firms must first send a paper notice about the change, allow up to 180 days to transition, and then send one paper reminder each year for up to two years about your right to opt out. The SEC must also set rules for notices when documents are posted on a website, and require steps to protect your personal information in electronic documents. Self-regulatory organizations must update their own rules to match.

• Who is affected: Investors and financial firms that must send required investment documents.
• What changes: Electronic delivery becomes the default, with an easy opt-out to paper; firms must ensure documents are easy to read/save and fix failed deliveries; some firms must take extra steps to protect personal info; this does not change the content or timing of required documents.
• When: SEC proposes rules within 180 days and finalizes within one year; transition to electronic delivery can start with a paper notice and up to 180 days to switch, plus annual paper reminders for up to two years; if the SEC is late, firms may proceed under the bill’s standards.