Companies formed before 2024 would get until January 1, 2026 to file beneficial ownership reports with the government. The bill doesn't change what's required — just the deadline for older businesses. Newer companies still follow their current timelines.
Modern Action explains what the legislation does, helps you choose whether to support, oppose, or ask for changes, and drafts a message tied to the bill, your stance, and the elected officials who can act on it.
‘Protect Small Businesses from Excessive Paperwork Act of 2025 is a Senate bill committee Action. The latest recorded action: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Latest action on S. 505: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Who this affects: This bill mostly affects small and medium-sized businesses that were formed before 2024 and haven't yet filed their ownership reports. It also affects federal agencies like FinCEN that rely on this data to track financial crimes. Companies formed after January 1, 2024 are not affected — their deadlines stay the same.
Why this matters: Millions of small businesses are now required to tell the federal government who really owns them, part of a broader push to fight money laundering and fraud. Many of these businesses are struggling to understand the new rules and meet the deadline. This bill would give them breathing room, but it also means law enforcement won't have the full picture as soon as originally planned.
You do not have to start with a blank letter. Modern Action turns the bill, your position, and the relevant congressional context into a message you can edit and send. The goal is to make contacting Congress clear, specific, and useful without forcing you to parse bill text or figure out the right office on your own.
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Officially: ‘Protect Small Businesses from Excessive Paperwork Act of 2025
Companies formed before 2024 would get until January 1, 2026 to file beneficial ownership reports with the government. The bill doesn't change what's required — just the deadline for older businesses. Newer companies still follow their current timelines.
Use this page to support, oppose, or ask Congress to amend S505. Modern Action explains what the bill does, helps identify the right senators or representative, and drafts a bill-specific message you can edit and send.
Where it stands
Sitting in Banking
No vote scheduled. Constituent contact is what moves bills out of committee.
↓ Why your message matters here
This bill is sitting in committee with no scheduled vote — which means a small number of constituent messages can decide whether it moves forward or quietly dies.
Enter your ZIP to see how your senators and member of Congress have voted, sponsored, or spoken on this bill.
The debate
Where this bill is in the process
Introduced
Introduced in Senate
Senate Committee
Under Senate committee consideration
Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (2/11/2025)
Senate Floor Vote
Voted on by Senate
Passed Senate
Approved by Senate
House Review
Sent to House for consideration
Passed Both Chambers
Approved by both House and Senate
Signed into Law
Signed by the President
For more detail
Choose one clear position: support, oppose, or amend. Then pick any reasons or personal context you want included. Modern Action uses that input and the bill context to draft a message you can edit and send.
Congressional offices prioritize messages from their own constituents. Modern Action uses your address to route the drafted message to your senators when that is the most relevant target for this bill.
The draft includes the bill number, your position, the reasons you selected, any personal context you added, and a direct ask such as voting yes, voting no, cosponsoring, opposing, or seeking changes. You stay in control because you can edit the message before sending.
This page gives you an opportunity to support, oppose, or ask for changes to ‘Protect Small Businesses from Excessive Paperwork Act of 2025, then contact the elected officials who can act. Modern Action drafts the message from your position and the reasons you select.
Modern Action keeps the action tied to the bill itself: what it does, where it is in the process (Committee Action), which office can still act, and what ask belongs in the message.
You are not starting from a blank form. Modern Action drafts the message around S505, your stance, and the reasons you choose, then lets you edit and send when ready.
