Last progress February 11, 2025 (9 months ago)
Introduced on January 24, 2025 by Zach Nunn
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
This bill gives existing companies more time to file their “beneficial ownership” report with the U.S. Treasury’s FinCEN. Companies that were formed or registered before January 1, 2024 will have until January 1, 2026 to file, instead of the earlier deadline that was one year sooner. It does not change who must file or what they must report—only the due date is moved for these older companies .
Why this matters: Many small businesses were rushing to meet the original timeline. This extra year gives them more time to gather owner information, avoid mistakes, and reduce paperwork stress.