A bill to amend title 31, United States Code, to require only foreign entities to report beneficial ownership information, and for other purposes.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4419 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4419 To amend title 31, United States Code, to require only foreign entities to report beneficial ownership information, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES April 28, 2026 Mr. Kennedy (for himself, Mrs. Blackburn, Mr. Justice, Mr. Marshall, Mr. Lee, Mr. Sheehy, Mrs. Capito, Mr. Ricketts, Mr. Cruz, and Mr. Banks) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs _______________________________________________________________________ A BILL To amend title 31, United States Code, to require only foreign entities to report beneficial ownership information, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. BENEFICIAL OWNERSHIP INFORMATION REPORTING REQUIREMENTS. (a) In General.--Section 5336 of title 31, United States Code-- (1) in subsection (a)-- (A) by striking paragraph (2) and inserting the following: ``(2) Applicant.--The term `applicant' means any individual who registers or files an application to register a corporation, limited liability company, or other similar entity formed under the laws of a foreign country to do business in the United States by filing a document with the secretary of state or similar office under the laws of a State or Indian Tribe.''; (B) in paragraph (3)(B)-- (i) in clause (iv), by striking ``or'' at the end; (ii) in clause (v), by striking the period at the end and inserting ``; or''; and (iii) by adding at the end the following: ``(vi) any United States person.''; and (C) in paragraph (11), by striking subparagraph (A) and inserting the following: ``(A) means a corporation, limited liability company, or other similar entity tha