Small Business Reporting Flexibility Act

S 5414, the Small Business Reporting Flexibility Act, delays the enforcement of beneficial ownership reporting requirements for small businesses. It requires the Treasury Secretary to withhold funding for enforcement unless FinCEN postpones the reporting deadline by at least one year, finalizes all related rules, and allows businesses to submit reports by mail. This directly affects small businesses subject to the beneficial ownership reporting rules under Section 5336(a) of Title 31. The bill changes the implementation timeline and method, giving businesses an extended deadline and a paper filing option instead of requiring online submission.