To amend section 5336 of title 31, United States Code, to provide existing small businesses with an additional year to file beneficial ownership information, and for other purposes.
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Summary
This bill amends federal beneficial ownership reporting requirements under the Corporate Transparency Act to extend the filing deadline for small businesses. Specifically, it allows small business concerns, as defined under the Small Business Act, an additional year to file beneficial ownership information with FinCEN (the Financial Crimes Enforcement Network), with the new deadline set for December 31, 2025.
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