United States · Bill · S
S. 725 (117th)
Stop Tax Haven Abuse Act
Introduced
11 March 2021
Last action
11 March 2021 · Introduced
Status
Read twice and referred to the Committee on Finance.
Sponsors
Sen. Whitehouse, Sheldon [D-RI]
Subjects
Taxation
Source updated
10 January 2026
Summary
Stop Tax Haven Abuse Act This bill authorizes the Department of the Treasury to impose restrictions on foreign jurisdictions or financial institutions to counter money laundering and efforts to significantly impede U.S. tax enforcement. Among other provisions, the bill expands reporting requirements for certain foreign investments and accounts held by U.S. persons, establishes a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under the Foreign Account Tax Compliance Act, treats certain foreign corporations managed and controlled primarily in the United States as domestic corporations for tax purposes, treats swap payments sent offshore as taxable U.S. source income, requires corporations to disclose certain financial information on a country-by-country basis, imposes penalties for failing to disclose offshore holdings, modifies the base erosion anti-abuse tax to lower the gross receipts applicability threshold from $500 million to $100 million, makes investment advisers and persons engaged in forming new business entities subject to new anti-money laundering requirements, requires reporting of U. S. beneficial owners of foreign-owned financial accounts, and imposes additional requirements for third party summonses used to obtain information in tax investigations that do not identify the person with respect to whose liability the summons is issued (i.e., John Doe summons).
This text is taken from the official record. PoliticalRepo does not editorialize.
Timeline
11 March 2021
Introduced
Read twice and referred to the Committee on Finance.
Source: IntroReferral
11 March 2021
Introduced
Introduced in Senate
Source: IntroReferral
Votes
No vote records are attached yet.
Versions
- Introduced in Senate · 11 March 2021 · Download file
Documents
3 official files
Introduced in Senate (text)
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Introduced in Senate (text)
Introduced in Senate · EN · 11 March 2021
Introduced in Senate (PDF)
Introduced in Senate · EN · 11 March 2021
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Introduced in Senate
summary · EN · 11 March 2021
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.
Sponsors
- Sen. Whitehouse, Sheldon [D-RI] · D · Sponsor
- · ssfi00 · Standing
Related records
- related to ← Stop Tax Haven Abuse Act
Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/117th-congress/senate-bill/725
- Open data entity: https://api.congress.gov/v3/bill/117/s/725
- us · 117-s-725 · source updated 10 January 2026