BGOV Bill Analysis: H.R. 736, Beneficial Ownership Reporting

The deadline for businesses to report ownership information to the government would be delayed by about a year, until January 2026, under H.R. 736.

Under the 2021 Corporate Transparency Act (Public Law 116-283), which aims to combat money laundering and other illicit financial activity, most incorporated businesses must disclose their beneficial owners to the Treasury Department’s Financial Crimes Enforcement Network. The law defines a beneficial owner as any individual who exercises substantial control over a company or owns or controls at least 25% of a company.

While most companies were required to file with FinCEN by Jan. ...