S. 5518 proposes extending the deadline for certain companies to submit beneficial ownership information reports if they are affected by Hurricane Helene or Milton. The bill identifies affected companies as those in areas where the President has declared a major disaster....
Simple Explanation
This bill wants to give some extra time to certain companies to share important ownership details if they are in places hit by big storms called Hurricane Helene or Milton. These companies won't have to send their papers until January 1, 2026, because it might be hard for them to do so right now.