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Small Business Relief: Extended Deadline for Ownership Information Reports

This new law gives small businesses more time to report their ownership information. Instead of the previous deadline, companies formed before January 1, 2024, now have until January 1, 2026. This means less paperwork and more time for many entrepreneurs to comply with new regulations.
Key points
Extends the deadline for beneficial ownership information reports for companies formed before January 1, 2024, to January 1, 2026.
Reduces administrative burden for small businesses.
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VOTING RESULTS
2025-02-10
For 408
Against 0
Abstain 0
Full voting results open_in_new
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Status:
Passed House
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Additional Information
Print number: 119_HR_736
Sponsor: Rep. Nunn, Zachary [R-IA-3]
Process start date: 2025-01-24
Voting date: 2025-02-10
Meeting no: 1
Voting no: 37
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Protect Small Businesses from Excessive Paperwork Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_736.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-01-24.

What are the main provisions?

Key points include:

  • Extends the deadline for beneficial ownership information reports for companies formed before January 1, 2024, to January 1, 2026.
  • Reduces administrative burden for small businesses.
What is the specific legal status?

The current status is Passed House.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Where is the official voting record?

The official roll call vote is recorded at: voting record

Who is the primary sponsor?

The primary sponsor is Rep. Nunn, Zachary [R-IA-3].

What is the latest detailed status?

The latest detailed status is: 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)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy Courts and Law