Delay and Harmonization of Small Business Ownership Reporting Rules.
This bill protects small businesses by delaying the start date of new federal rules requiring companies to report beneficial ownership information. These rules cannot take effect until the Treasury Department finalizes and synchronizes all related regulations. This provides business owners with more time and clarity to prepare for the new reporting requirements.
Key points
All new rules under the Corporate Transparency Act regarding beneficial ownership reporting must take effect simultaneously on the same date.
The implementation of these reporting requirements is paused until the U.S. Treasury certifies that all necessary final rules have been issued and synchronized.
Expired
Citizen Poll