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Congress·In Committee·S. 4003

Sen. Cassidy Introduces the Securing Accountability in Foreign Entries Act

Securing Accountability in Foreign Entries Act

15 days ago·View on Congress.gov

Legislative Progress

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Key Points

  • Any company or individual importing goods into the U.S. must have a real physical office here — not a virtual address, mailbox, or shared office space. This ensures someone in the U.S. can be held legally responsible for imported goods.

    From policy text

    “The term `physical location'-- ``(aa) means a location, with a street address, where the importer conducts substantive business operations, including maintaining the presence of employees; and ``(bb) does not include-- ``(AA) a shared office space, unless the importer permanently occupies the office; ``(BB) an address associated with a registered agent, other agent, customs broker, or freight forwarder, or mailbox services; or ``(CC) an address that exists solely for the purpose of collecting mail or establishing a virtual business address.”
    View in full text
  • Foreign companies without a U.S. presence must either set up a U.S. subsidiary with at least one full-time American employee or permanent resident, or partner with a large established U.S. affiliate that has 1,500+ employees and $1 million in assets.
  • All import duties, taxes, and fees must be paid electronically from a U.S. bank account that has been verified under anti-money laundering rules. CBP can no longer accept payments from foreign banks or unverified accounts.

    From policy text

    “shall, in accordance with paragraphs (3) and (4), pay directly to U.S. Customs and Border Protection all duties, taxes, and fees assessed with respect to the entry of the merchandise.”
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  • The minimum continuous import bond jumps to $100,000, up from much lower amounts currently allowed. This guarantees money is available to cover unpaid duties if an importer defaults or disappears.

    From policy text

    “to maintain, in the name of the importer, a continuous import bond of not less than $100,000”
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  • Special exceptions exist for companies from countries with equivalent import rules (like Canada and Australia) and for massive express carriers employing at least 300,000 people in the U.S., who can designate their own licensed customs brokers as importers of record.

    From policy text

    “that is organized under the laws of Canada, Australia, or a covered country”
    View in full text
Economy FinanceImmigrationCriminal Justice

Impact Analysis

Personal Impact

Scores: 1 = low, 5 = highSentiment: -5 to +5 (net benefit)

Milestones

2 milestones2 actions
Mar 5, 2026Senate

Read twice and referred to the Committee on Finance.

Mar 5, 2026

Introduced in Senate

What Happens Next

Projected impacts based on AI analysis

60 days after enactment

New $100,000 minimum bond requirement takes effect for newly issued bonds

Importers getting new continuous import bonds must meet the higher $100,000 minimum within 60 days of enactment, raising costs for smaller importers immediately.

1 year after enactment

New importer-of-record requirements and payment rules take full effect

One year after enactment, all importers must have a real U.S. physical presence, pay duties from verified U.S. bank accounts, and meet the new eligibility rules. Foreign companies without qualifying U.S. operations can no longer act as their own importers.

360 days after enactment

CBP must finalize regulations for verifying importer compliance

Within 360 days, Customs and Border Protection must publish detailed rules on how it will check that importers meet the new requirements, including penalties for false statements.

Source Information

Document Type

Congressional Bill

Official Title

Securing Accountability in Foreign Entries Act

Bill NumberS 4003
Congress119th Congress
ChamberSenate
Latest ActionRead twice and referred to the Committee on Finance.

Sponsor

Analysis generated by AI. Always verify with official sources.