The Protect Small Business from Excessive Paperwork Act (H.R. 736) has PASSED the House, but is currently STUCK in the Senate. This bipartisan bill will extend the deadline for the Corporate Transparency Act’s (CTA's) Beneficial Ownership Information (BOI) reporting requirement to Jan. 1, 2026, protecting small businesses from unfair compliance costs and regulatory burdens created by the law.

The CTA was signed into law in December 2020 and will require ONLY certain businesses with fewer than 20 employees to disclose owners’ information to the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). While the intent of the law was to stem money laundering, the CTA is not only bad policy, it is unconstitutional. Failure of a small business to comply—intentional or not—could result in up to $10,000 in fines and up to two years in prison.

While the Trump Administration is trying to address this issue administratively, and the CTA's unconstitutional requirements continue to be fought in court, this bill will provide business owners with relief from confusing and contradictory information concerning their legal responsibilities.

Reach out to your Senators TODAY and encourage them to support H.R.736 to ensure that small businesses are protected from the CTA.