# 119-s-1995: FinCEN–SBA Coordination on Beneficial Ownership Registration Act

119-s-1995, FinCEN–SBA Coordination on Beneficial Ownership Registration Act, is a 119th Congress bill sponsored by Sen. Markey, Edward J. [D-MA] (D-MA); status introduced; PRIA reads it as touching household money (as of 2026-09-10).

- Canonical: https://policyrisk.com/legislation/119-s-1995
- As of: 2026-09-10
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-1995
- Congress: 119
- Title: FinCEN–SBA Coordination on Beneficial Ownership Registration Act
- Status: introduced
- Introduced: 2025-06-09
- Sponsor: Sen. Markey, Edward J. [D-MA] (D-MA)
- Cosponsors: 2
- Policy area: Commerce
- Touches household money: yes
- Last recorded action: 2026-09-10

## Summary

**Improve beneficial ownership reporting compliance** by creating a formal partnership between the Financial Crimes Enforcement Network and the Small Business Administration. The bill would set rules for sharing guidance, running outreach, offering multilingual materials, and tracking which companies meet beneficial ownership reporting duties. - Small businesses and reporting companies would get clearer guidance and assistance through linked SBA and FinCEN webpages, webinars, town halls, and materials to counter scams. - Resource partners such as Small Business Development Centers, Women's Business Centers, and Veteran Business Outreach Centers would be used to distribute information and assist reporting companies. - FinCEN and the SBA would sign a publicly available memorandum of understanding within 7 days of execution, conduct implementation reviews every 6 months, and report to relevant House and Senate committees starting 30 days after the MOU and then every 30 days on outreach, estimated numbers assisted, and compliance status.

## Cosponsors (2)

- Sen. Warren, Elizabeth [D-MA] (D-MA), 2025-06-09T00:00:00.000Z
- Sen. Whitehouse, Sheldon [D-RI] (D-RI), 2025-06-09T00:00:00.000Z

## Provisions PRIA read

- Help for small businesses filing owner reports: benefit, medium. If enacted, the bill would require SBA and FinCEN to sign a written agreement within 90 days to help businesses that must file beneficial ownership reports. The agreement would share FinCEN guidance with reporting companies, trade groups, and SBA resource partners like Small Business Development Ce…

## Related bills

- 119-s-5071: Children's Safe Welcome Act of 2026
- 119-s-3990: PrEP Access and Coverage Act of 2026
- 119-s-2823: FAMILY Act
- 119-s-2763: Keep Billionaires Out of Social Security Act
- 119-s-3869: Healthy Families Act
- 119-s-51: Washington, D.C. Admission Act

## Sources
- [119-s-1995 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/1995)

## Related
- [119-s-5071: Children's Safe Welcome Act of 2026](https://policyrisk.com/legislation/119-s-5071)
- [119-s-3990: PrEP Access and Coverage Act of 2026](https://policyrisk.com/legislation/119-s-3990)
- [119-s-2823: FAMILY Act](https://policyrisk.com/legislation/119-s-2823)
- [119-s-2763: Keep Billionaires Out of Social Security Act](https://policyrisk.com/legislation/119-s-2763)
- [119-s-3869: Healthy Families Act](https://policyrisk.com/legislation/119-s-3869)
- [119-s-51: Washington, D.C. Admission Act](https://policyrisk.com/legislation/119-s-51)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-1995 (as of 2026-09-10).