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This bill generally addresses the disclosure of corporate ownership and the prevention of money laundering and the financing of terrorism.
DIVISION A--CORPORATE TRANSPARENCY ACT OF 2019
Corporate Transparency Act of 2019
This division requires certain new and existing small corporations and limited liability companies to disclose information about their beneficial owners. A beneficial owner is an individual who (1) exercises substantial control over a corporation or limited liability company, (2) owns 25% or more of the interest in a corporation or limited liability company, or (3) receives substantial economic benefits from the assets of a corporation or limited liability company. Specifically, if certain entities apply to form a corporation or limited liability company, they must file beneficial ownership information with the Financial Crimes Enforcement Network (FinCEN). Furthermore, certain existing corporations and limited liability companies must file this information with FinCEN two years after the implementation of final regulations required under this division. The division imposes a civil penalty and authorizes criminal penalties—a fine, a prison term for up to three years, or both—for providing false or fraudulent beneficial ownership information or for willfully failing to provide complete or updated beneficial ownership information. The Government Accountability Office must study and report on (1) the availability of beneficial ownership information for other legal entities (e.g., partnerships), and (2) the effectiveness of incorporation practices implemented under this division. DIVISION B--COUNTER ACT OF 2019 Coordinating Oversight, Upgrading and Innovating Technology, and Examiner Reform Act of 2019 or the COUNTER Act of 2019 This division generally revises requirements related to anti-money-laundering and counter-terrorism-financing laws. Among other things, the division establishes new offices within financial regulatory agencies related to privacy and civil liberties;
The division also increases penalties for violations of anti-money-laundering and counter-terrorism-financing laws, requires antiquities dealers to comply with these laws, and requires the reporting of beneficial ownership information to FinCEN in certain commercial real estate transactions. Every five years, Treasury must update the threshold amounts for currency transaction reports to reflect inflation.
Oct 22, 2019Each bar: ✓ Yea from the bottom, ✕ Nay aboveOct 22, 2019
House Oct 22, 2019 · the primary vote
Corporate Transparency Act
Passed
249 Yea 173 Nay 9 not voting
Party-line vote 30 of 422 voting members broke with their own party: 5 Democrats, 25 Republicans.
DemocratsRepublicansFilled: YeaRing: NayGrey: not voting or present
431 members on this roll call, from the official House record. Party majorities need at least five voting members, so an independent never counts as breaking with a party.
Signing on is not a vote: a member can cosponsor H.R. 2513 and vote against it. 2 signed when it was filed.
Written by the nonpartisan Congressional Research Service, describing H.R. 2513 as passed House on Oct 22, 2019. It is not the text of the measure; a later amendment may have changed what it does.
Organizations that named H.R. 2513 in a lobbying disclosure. Only those that cited the bill by number appear, so this is a floor, not a full list.
435 disclosures name this measure. Retrieved from LDA.gov on 2026-10-05. Senate Office of Public Records cannot vouch for the data or analyses derived from these data after the data have been retrieved from LDA.gov.