# 119-hr-3829: FinCEN–SBA Coordination on Beneficial Ownership Registration Act

119-hr-3829, FinCEN–SBA Coordination on Beneficial Ownership Registration Act, is a 119th Congress bill sponsored by Rep. Velázquez, Nydia M. [D-NY-7] (D-NY); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-hr-3829
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-3829
- Congress: 119
- Title: FinCEN–SBA Coordination on Beneficial Ownership Registration Act
- Status: introduced
- Introduced: 2025-06-06
- Sponsor: Rep. Velázquez, Nydia M. [D-NY-7] (D-NY)
- Cosponsors: 6
- Policy area: Commerce
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**Aligns FinCEN and the Small Business Administration to help reporting companies comply with beneficial ownership rules.** It would set up a public memorandum of understanding to coordinate outreach, reduce burdens on small businesses, and counter scams tied to beneficial ownership reporting. - Small businesses and other reporting companies would get clearer, language-accessible guidance and direct outreach through SBA-hosted town halls, webinars, and field office support. These steps aim to reduce confusion and help firms meet reporting requirements. - Small business resource partners such as Small Business Development Centers, Women’s Business Centers, and Veteran Business Outreach Centers would be used to disseminate covered information and assist reporting companies. - The bill would require a meeting within 30 days and a written MOU within 90 days, make the MOU public within 7 days, hold meetings at least every six months, and deliver joint reports every 30 days to specified congressional committees. Neither the Director nor the Administrator would receive compensation for attending meetings.

## Cosponsors (6)

- Rep. Waters, Maxine [D-CA-43] (D-CA), 2025-06-06T00:00:00.000Z
- Rep. McIver, LaMonica [D-NJ-10] (D-NJ), 2025-07-15T00:00:00.000Z
- Rep. Williams, Nikema [D-GA-5] (D-GA), 2025-07-16T00:00:00.000Z
- Rep. Beatty, Joyce [D-OH-3] (D-OH), 2025-07-16T00:00:00.000Z
- Rep. Fields, Cleo [D-LA-6] (D-LA), 2025-07-16T00:00:00.000Z
- Rep. Simon, Lateefah [D-CA-12] (D-CA), 2025-07-21T00:00:00.000Z

## Provisions PRIA read

- More help on ownership reporting for small businesses: benefit, low. This bill would make SBA and Treasury’s FinCEN team up to guide small businesses on beneficial ownership reporting. They would meet within 30 days and sign a written plan within 90 days. The plan would be posted online within 7 days. The SBA homepage would link to FinCEN’s reporting pages. They wou…

## Related bills

- 119-hr-9877: Health Equity and Accountability Act of 2026
- 119-hr-6644: 21st Century ROAD to Housing Act
- 119-hr-7973: Momnibus Act
- 119-hr-7977: Energy Bills Relief Act
- 119-hr-2045: Medicare Dental, Vision, and Hearing Benefit Act of 2025
- 119-hr-51: Washington, D.C. Admission Act

## Sources
- [119-hr-3829 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/3829)

## Related
- [119-hr-9877: Health Equity and Accountability Act of 2026](https://policyrisk.com/legislation/119-hr-9877)
- [119-hr-6644: 21st Century ROAD to Housing Act](https://policyrisk.com/legislation/119-hr-6644)
- [119-hr-7973: Momnibus Act](https://policyrisk.com/legislation/119-hr-7973)
- [119-hr-7977: Energy Bills Relief Act](https://policyrisk.com/legislation/119-hr-7977)
- [119-hr-2045: Medicare Dental, Vision, and Hearing Benefit Act of 2025](https://policyrisk.com/legislation/119-hr-2045)
- [119-hr-51: Washington, D.C. Admission Act](https://policyrisk.com/legislation/119-hr-51)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-3829 (as of 2026-04-21).