To amend title 31, United States Code, to modify the deadline for filing beneficial ownership information reports for reporting companies formed or registered before January 1, 2024.
Sponsors
Legislative Progress
Passed HouseReceived; read twice and referred to the Committee on Banking, …
Passed House (inferred from eh version)
Mr. Nunn of Iowa (for himself, Ms. Davids of Kansas, …
Summary
What This Bill Does
Modifies the Corporate Transparency Act beneficial ownership reporting deadline, giving companies formed before January 1, 2024 until January 1, 2026 to file (extended from original 2-year deadline).
Who Benefits and How
Small businesses gain additional time to comply with beneficial ownership reporting. Companies avoid immediate compliance burden and potential penalties.
Who Bears the Burden and How
FinCEN loses earlier data collection. Anti-money laundering enforcement delayed.
Key Provisions
- Changes filing deadline for pre-existing companies
- Applies to companies formed before January 1, 2024
- New deadline is January 1, 2026
- Amends Section 5336(b)(1)(B) of title 31
Evidence Chain:
This summary is derived from the structured analysis below. See "Detailed Analysis" for per-title beneficiaries/burden bearers with clause-level evidence links.
Primary Purpose
Extends beneficial ownership filing deadline for pre-existing companies to January 1, 2026
Policy Domains
Legislative Strategy
"Provide compliance relief for small businesses under CTA"
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
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