# 119-s-4419: A bill to amend title 31, United States Code, to require only foreign entities to report beneficial ownership information, and for other purposes.

119-s-4419, A bill to amend title 31, United States Code, to require only foreign entities to report beneficial ownership information, and for other purposes., is a 119th Congress bill sponsored by Sen. Kennedy, John [R-LA] (R-LA); status introduced; PRIA reads it as touching household money (as of 2026-06-14).

- Canonical: https://policyrisk.com/legislation/119-s-4419
- As of: 2026-06-14
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-4419
- Congress: 119
- Title: A bill to amend title 31, United States Code, to require only foreign entities to report beneficial ownership information, and for other purposes.
- Status: introduced
- Introduced: 2026-04-28
- Sponsor: Sen. Kennedy, John [R-LA] (R-LA)
- Cosponsors: 12
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-06-14

## Summary

**This bill would shift beneficial ownership reporting to foreign-formed entities registering to do business in the United States and exempt United States persons from reporting.** It would also add required data fields for the foreign jurisdiction of formation and the State or tribal jurisdiction where the entity first registers. - United States persons would be exempt from reporting beneficial ownership information and would not have to provide that information for reporting companies they own. - Foreign-formed corporations, limited liability companies, and similar entities that register to do business in the United States would be redefined as "reporting companies" and would have to report beneficial ownership information including their foreign formation jurisdiction and the State or tribal jurisdiction of first registration. - The Financial Crimes Enforcement Network (FinCEN) would be required to delete all beneficial ownership information of any United States person not later than 90 days after enactment and may retain beneficial ownership information for persons that are not United States persons.

## Cosponsors (12)

- Sen. Blackburn, Marsha [R-TN] (R-TN), 2026-04-28T00:00:00.000Z
- Sen. Justice, James C. [R-WV] (R-WV), 2026-04-28T00:00:00.000Z
- Sen. Marshall, Roger [R-KS] (R-KS), 2026-04-28T00:00:00.000Z
- Sen. Lee, Mike [R-UT] (R-UT), 2026-04-28T00:00:00.000Z
- Sen. Sheehy, Tim [R-MT] (R-MT), 2026-04-28T00:00:00.000Z
- Sen. Capito, Shelley Moore [R-WV] (R-WV), 2026-04-28T00:00:00.000Z
- Sen. Ricketts, Pete [R-NE] (R-NE), 2026-04-28T00:00:00.000Z
- Sen. Cruz, Ted [R-TX] (R-TX), 2026-04-28T00:00:00.000Z
- Sen. Banks, Jim [R-IN] (R-IN), 2026-04-28T00:00:00.000Z
- Sen. Husted, Jon [R-OH] (R-OH), 2026-05-11T00:00:00.000Z
- Sen. Lankford, James [R-OK] (R-OK), 2026-06-08T00:00:00.000Z
- Sen. Hagerty, Bill [R-TN] (R-TN), 2026-06-11T00:00:00.000Z

## Provisions PRIA read

- U.S. persons' ownership data deleted: benefit, high. If enacted, reporting companies would not have to report ownership information about any United States person. If enacted, United States persons would not have to provide beneficial ownership information for companies they own. If enacted, FinCEN would have to delete all beneficial ownership inform…
- New BOI rules for foreign firms: mixed, medium. The bill would limit "reporting companies" to entities formed under foreign law and registered to do business in the U.S. The bill would make people who file to register foreign-formed companies the defined "applicants." The bill would require reporting companies to list the foreign country where t…

## Related bills

- 119-s-1071: National Defense Authorization Act for Fiscal Year 2026
- 119-s-3752: SAVE America Act
- 119-s-587: Death Tax Repeal Act of 2025
- 119-s-186: No Taxpayer Funding for Abortion and Abortion Insurance Full Disclosure Act of 2025
- 119-s-213: Main Street Tax Certainty Act
- 119-s-128: SAVE Act

## Sources
- [119-s-4419 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/4419)

## Related
- [119-s-1071: National Defense Authorization Act for Fiscal Year 2026](https://policyrisk.com/legislation/119-s-1071)
- [119-s-3752: SAVE America Act](https://policyrisk.com/legislation/119-s-3752)
- [119-s-587: Death Tax Repeal Act of 2025](https://policyrisk.com/legislation/119-s-587)
- [119-s-186: No Taxpayer Funding for Abortion and Abortion Insurance Full Disclosure Act of…](https://policyrisk.com/legislation/119-s-186)
- [119-s-213: Main Street Tax Certainty Act](https://policyrisk.com/legislation/119-s-213)
- [119-s-128: SAVE Act](https://policyrisk.com/legislation/119-s-128)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-4419 (as of 2026-06-14).