Improving Disclosure for Investors Act of 2025

This bill requires the Securities and Exchange Commission (SEC) to create rules allowing covered financial entities (like investment companies, brokers, and advisers) to deliver required regulatory documents - such as prospectuses, annual reports, and proxy statements - electronically to investors. It mandates specific transition steps: initial paper delivery for investors preferring it, a 180-day shift to electronic delivery, and annual paper reminders for two years after transition to maintain opt-out options. The rules must ensure documents are readable, securely delivered, and include clear mechanisms for investors to switch back to paper at any time. The SEC must finalize these rules within one year of the bill’s enactment, while existing document delivery requirements remain unchanged.