Securing Accountability in Foreign Entries Act

Key Points

• This bill requires the importer of record—the person or company responsible for bringing goods into the U.S.—to be a U.S. citizen, permanent resident, or a company with a real physical office and at least one full-time employee who is a U.S. citizen or permanent resident. Virtual offices, mailboxes, and shared spaces don't count.
• All import duties, taxes, and fees must be paid electronically from a U.S. bank account verified under anti-money-laundering rules. Customs cannot accept payments from anyone other than the importer of record, a surety, or a licensed customs broker.
• The minimum continuous import bond is raised to $100,000, a significant increase from the current typical $50,000 floor. This ensures the government has enough financial backing to collect duties if an importer fails to pay.
• Foreign companies that don't meet the new requirements but have a U.S. subsidiary must use that subsidiary—or another qualifying entity—as their importer of record. Companies from Canada, Australia, or other countries with equivalent import rules get an exemption.
• Massive express delivery companies with at least 300,000 U.S. employees get a special carve-out allowing them to designate a customs broker they fully own to act as importer of record and use the broker's bond. This effectively exempts companies like FedEx and UPS.