S. 505: ‘Protect Small Businesses from Excessive Paperwork Act of 2025

S. 505 is a federal bill in the 119th Congress. Before this bill, companies formed or registered before January 1, 2024, had to submit ownership details to the Financial Crimes Enforcement Network, known as FinCEN, by January 1, 2025. If nothing changed, missing that deadline would have exposed… See its sponsors, how members voted, and a plain-English breakdown on PolityLens.