Improving Disclosure for Investors Act of 2025

This bill tells the SEC to let financial firms send required investor documents by email or through a website or app. The SEC must propose rules within 180 days and finish within 1 year. If the SEC misses the deadline, firms can still switch to e-delivery by following the bill’s safeguards, and it will count as proper delivery . Investors can opt out anytime and keep getting paper copies. The substance and timing of what must be sent do not change—only how it can be delivered .

To protect consumers, the rules must include an initial paper letter about e-delivery, a transition period of up to 180 days, and then (for up to 2 years after that) one paper reminder each year that you can opt out. Firms must fix failed e-deliveries, make e-documents easy to read and save, and protect personal information. The SEC and market regulators also have to update their own rules to allow e-delivery. One section removes a specific e-signature law hurdle so these documents can be delivered electronically as set out in this bill .

• Who is affected: Investors and SEC-regulated financial firms that send required disclosures
• What changes: Allows electronic delivery of required documents, with an opt-out to paper at any time
• When: SEC proposes rules within 180 days and finalizes within 1 year; firms follow set timelines for notices and transitions
• Safeguards: Initial paper notice, limited transition period, annual paper reminders (up to 2 years), failed-delivery fixes, readability, and privacy protections; substance/timing of disclosures stay the same