# 119-s-5019: Disclosure of Tax Havens and Offshoring Act

119-s-5019, Disclosure of Tax Havens and Offshoring Act, is a 119th Congress bill sponsored by Sen. Van Hollen, Chris [D-MD] (D-MD); status introduced; PRIA reads it as touching household money (as of 2026-08-01).

- Canonical: https://policyrisk.com/legislation/119-s-5019
- As of: 2026-08-01
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-5019
- Congress: 119
- Title: Disclosure of Tax Havens and Offshoring Act
- Status: introduced
- Introduced: 2026-07-16
- Sponsor: Sen. Van Hollen, Chris [D-MD] (D-MD)
- Cosponsors: 9
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-08-01

## Summary

**Establishes public, machine-readable country-by-country financial reporting for large multinational issuers to show where profits, employees, assets, and taxes are recorded.** This bill would require covered issuers to file consolidated and constituent-level reports with the Securities and Exchange Commission that align with U.S. and international country-by-country reporting standards. - Companies: Covered issuers would have to list constituent entities and key data for each, including legal name, tax residence and incorporation, tax ID, main business activity, and aggregated jurisdiction figures like revenues, profit or loss before tax, cash-basis tax paid, accrued tax expense, stated capital, accumulated earnings, full-time equivalent employees, and net book value of tangible assets. Reporting covers a 12-month period tied to the issuer's financial statement. - Investors and the public: The data must be machine-readable and publicly accessible online, making it easier to compare where multinationals report income and taxes. - Regulators and implementation: The SEC would need to propose rules within 270 days and finalize them within 1 year, and the disclosure requirement would take effect 1 year after the final rule. Filing deadlines are tied to the due date for the issuer's tax return in the group's residence jurisdiction.

## Cosponsors (9)

- Sen. Durbin, Richard J. [D-IL] (D-IL), 2026-07-16T00:00:00.000Z
- Sen. Sanders, Bernard [I-VT] (I-VT), 2026-07-16T00:00:00.000Z
- Sen. Whitehouse, Sheldon [D-RI] (D-RI), 2026-07-16T00:00:00.000Z
- Sen. Smith, Tina [D-MN] (D-MN), 2026-07-16T00:00:00.000Z
- Sen. Blumenthal, Richard [D-CT] (D-CT), 2026-07-16T00:00:00.000Z
- Sen. Baldwin, Tammy [D-WI] (D-WI), 2026-07-16T00:00:00.000Z
- Sen. Duckworth, Tammy [D-IL] (D-IL), 2026-07-16T00:00:00.000Z
- Sen. Warren, Elizabeth [D-MA] (D-MA), 2026-07-16T00:00:00.000Z
- Sen. Welch, Peter [D-VT] (D-VT), 2026-07-16T00:00:00.000Z

## Provisions PRIA read

- Large multinationals must report taxes: benefit, medium. This bill would require covered issuers in large multinational groups to file country-by-country tax reports with the SEC. Reports would list each business unit's legal name, tax residence, tax ID, and main business activity. For each tax jurisdiction, reports would give aggregated figures for rela…

## Related bills

- 119-s-5066: Health Equity and Accountability Act of 2026
- 119-s-3990: PrEP Access and Coverage Act of 2026
- 119-s-2823: FAMILY Act
- 119-s-3869: Healthy Families Act
- 119-s-51: Washington, D.C. Admission Act
- 119-s-5108: Right to IVF Act of 2026

## Sources
- [119-s-5019 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/5019)

## Related
- [119-s-5066: Health Equity and Accountability Act of 2026](https://policyrisk.com/legislation/119-s-5066)
- [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-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)
- [119-s-5108: Right to IVF Act of 2026](https://policyrisk.com/legislation/119-s-5108)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-5019 (as of 2026-08-01).