FinCEN–SBA Coordination on Beneficial Ownership Registration Act

This bill requires the Financial Crimes Enforcement Network (FinCEN) and the Small Business Administration (SBA) to coordinate outreach to small businesses about existing beneficial ownership reporting requirements under the Corporate Transparency Act. It mandates joint efforts to disseminate information through SBA resource partners (like small business development centers), provide multilingual materials, host educational events, and combat fraudulent schemes related to reporting. The coordination focuses on helping small businesses that must report beneficial ownership information to comply with current law, which aims to prevent money laundering and other illicit activities. The bill does not create new reporting requirements but ensures clearer communication and support for affected small businesses.