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Extended reporting deadlines for businesses affected by Hurricanes Helene and Milton.

This law grants companies affected by Hurricanes Helene or Milton an extension for submitting mandatory beneficial ownership reports. Instead of the original deadline, these companies now have until January 1, 2026, to complete the required paperwork. This provides crucial relief to business owners focused on disaster recovery by temporarily lifting immediate bureaucratic burdens.
Key points
Deadline Extension: Companies affected by Hurricanes Helene or Milton have until January 1, 2026, to submit their Beneficial Ownership Information reports.
Eligibility Criteria: The relief applies to companies located in areas for which the President has declared a major disaster due to these hurricanes.
Purpose: To reduce administrative burdens on businesses in disaster zones, allowing them to prioritize recovery and stability.
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Additional Information
Print number: 118_S_5518
Sponsor: Sen. Budd, Ted [R-NC]
Process start date: 2024-12-12
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Flexible Compliance for Emergencies and Natural Disasters Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_5518.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-12-12.

What are the main provisions?

Key points include:

  • Deadline Extension: Companies affected by Hurricanes Helene or Milton have until January 1, 2026, to submit their Beneficial Ownership Information reports.
  • Eligibility Criteria: The relief applies to companies located in areas for which the President has declared a major disaster due to these hurricanes.
  • Purpose: To reduce administrative burdens on businesses in disaster zones, allowing them to prioritize recovery and stability.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Budd, Ted [R-NC].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

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