Rep. Arrington Introduces Bill Requiring Foreign Importers to Have a Physical U.S. Presence
The Securing Accountability in Foreign Entries Act is currently in the early stages of the legislative process. It was recently introduced and referred to the House Committee on Ways and Means for review. The bill is actively moving, but no further committee hearings or votes have been scheduled at this time.
Part of: story →Companion bill: Sen. Cassidy Introduces the Securing Accountability in Foreign Entries Act →Small importers face higher compliance costs due to the new $100,000 minimum bond requirement (up from a typical $50,000) and the need to maintain verified U.S. bank accounts. Small businesses that relied on foreign-based entities or intermediaries to serve as importers of record will need to restructure their import arrangements, potentially increasing overhead and administrative burden.
“to maintain, in the name of the importer, a continuous import bond of not less than $100,000”
Referred to the House Committee on Ways and Means.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
No votes have been recorded for this legislation yet.
A new Senate bill aimed at tightening rules on who can act as an 'importer of record' could reshape the cross-border e-commerce model. The SAFE Act targets 'non-resident' importers that assume legal responsibility for shipments but have little real presence in the country.
The Securing Accountability in Foreign Entries Act would require foreign companies acting as importers of record to become resident importers. It mandates a physical U.S. business location, a U.S. citizen/resident owner, and duties paid from verified U.S. bank accounts.
Document Type
Congressional Bill
Official Title
Securing Accountability in Foreign Entries Act
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