1. (1) in subsection (a)—

(A) by striking paragraph (2) and inserting the following:

1. (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:

(C) in paragraph (11), by striking subparagraph (A) and inserting the following:

1. (2) in subsection (b)(2)(A)(iv)—

(A) in subclause (I), by striking “or” at the end;

(B) in subclause (II), by striking the period at the end and inserting a semicolon; and

(C) by adding at the end the following:

1. (b) Exemptions.—

1. (1) DEFINITIONS.—In this subsection, the terms “beneficial owner”, “reporting company”, and “United States person” have the meanings given the terms in section 5336 of title 31, United States Code.
2. (2) EXEMPTIONS.—Notwithstanding any other provision of law—
   1. (A) no reporting company shall be required to report the beneficial ownership information of any United States person who is a beneficial owner; and
   2. (B) no United States person shall be required to provide beneficial ownership information with respect to any reporting company for which they are a beneficial owner.
      1. (c) Deletion of information.—
3. (1) IN GENERAL.—Not later than 90 days after the date of enactment of this Act, the Financial Crimes Enforcement Network of the Department of the Treasury shall delete all beneficial ownership information of any United States person.
4. (2) RETENTION.—The Financial Crimes Enforcement Network may maintain any beneficial ownership information relating to any person that is not a United States person.

1. (1) in subsection (a)—

(A) by striking paragraph (2) and inserting the following:

1. (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:

(C) in paragraph (11), by striking subparagraph (A) and inserting the following:

1. (2) in subsection (b)(2)(A)(iv)—

(A) in subclause (I), by striking “or” at the end;

(B) in subclause (II), by striking the period at the end and inserting a semicolon; and

(C) by adding at the end the following:

1. (b) Exemptions.—

1. (1) DEFINITIONS.—In this subsection, the terms “beneficial owner”, “reporting company”, and “United States person” have the meanings given the terms in section 5336 of title 31, United States Code.
2. (2) EXEMPTIONS.—Notwithstanding any other provision of law—
   1. (A) no reporting company shall be required to report the beneficial ownership information of any United States person who is a beneficial owner; and
   2. (B) no United States person shall be required to provide beneficial ownership information with respect to any reporting company for which they are a beneficial owner.
      1. (c) Deletion of information.—
3. (1) IN GENERAL.—Not later than 90 days after the date of enactment of this Act, the Financial Crimes Enforcement Network of the Department of the Treasury shall delete all beneficial ownership information of any United States person.
4. (2) RETENTION.—The Financial Crimes Enforcement Network may maintain any beneficial ownership information relating to any person that is not a United States person.