H.R. 4035 · 118th Congress
Protecting Small Business Information Act of 2023
- Stage
- In committee
- Sponsor
- Patrick McHenry
- Introduced
- 2023-06-12
- Latest action
- 2023-06-12 · Introduced in House
Summary
Protecting Small Business Information Act of 2023
This bill requires the Department of the Treasury to ensure all rules issued under the Corporate Transparency Act have the same effective date. Any final rules already issued must not take effect until all final rules under the act have been issued. The act requires companies to report beneficial ownership information (i.e., the identity of individuals behind a corporate entity) to the Financial Crimes Enforcement Network (FinCEN).