The Constituency

H.R. 736 · Finance and Financial Sector

Protect Small Businesses from Excessive Paperwork Act of 2025

Introduced Jan 24, 2025 · Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

What does this mean?

If you own a business that was set up before January 1, 2024, the government requires you to report who actually owns and controls the company to a federal agency called FinCEN, which collects this information to help detect money laundering and financial crimes. Under current rules, that report was due by January 1, 2025, but this bill pushes that deadline back a full year, to January 1, 2026. This gives affected business owners more time to gather the required ownership information and file it without facing a rushed deadline.

Read the official CRS summary on Congress.gov →

Bill Lifecycle

Real action history from Congress.gov — where this bill is in the process, and every recorded step along the way.

Introduced in House

Jan 24, 2025

Referred to Committee

Jan 24, 2025

Passed House

Feb 10, 2025

Received in Senate

Feb 11, 2025

Full action history (11)

Jan 24, 2025Referred to the House Committee on Financial Services.

Jan 24, 2025Introduced in House

Feb 10, 2025Motion to reconsider laid on the table Agreed to without objection.

Feb 10, 2025On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 408 - 0 (Roll no. 37). (text: CR H599)

Feb 10, 2025Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 408 - 0 (Roll no. 37). (text: CR H599)

Feb 10, 2025Considered as unfinished business. (consideration: CR H606)