Disclosure of Tax Havens and Offshoring Act
Sponsored By: Representative Pettersen, Brittany [D-CO-7]
Introduced
Summary
**This bill would require *country-by-country reporting by multinational issuers* to the Securities and Exchange Commission.** It adds a new subsection (t) to section 13 of the Securities Exchange Act of 1934 that would obligate a defined class of issuers to prepare and submit a country-by-country financial performance report to the SEC.
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 0 benefits, 0 costs, 2 mixed.
Country-by-country reporting for multinationals
This bill would require large multinational issuers to file a country-by-country report with the SEC each 12-month period. The report would list each local entity's legal name, tax residence, tax ID if any, main business, and jurisdiction totals for intercompany revenue, third-party revenue, profit or loss before tax, cash tax paid, accrued tax expense, stated capital, accumulated earnings, full-time-equivalent employees, and net tangible assets. The bill would set special rules for entities with no tax residence. Issuers would file by the multinational group's tax-return due date, including extensions, and the SEC would publish the reports online in a machine-readable format.
SEC rule deadlines and delayed start
This bill would require the SEC to publish a proposed rule within 270 days of enactment and a final rule within one year of enactment. The new reporting requirement would take effect one year after the SEC issues that final rule. That means rulewriting would be on a faster timetable, but actual filings and public reports would not start until after the SEC finishes rulemaking and a one-year waiting period.
Sponsors & CoSponsors
Sponsor
Pettersen, Brittany [D-CO-7]
CO • D
Cosponsors
Del. Norton, Eleanor Holmes [D-DC-At Large]
DC • D
Sponsored 7/16/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov