Securing Accountability in Foreign Entries Act

Stricter rules for importers and payments

If enacted, importers would face tighter rules on who may be the importer of record. Individual importers would have to be U.S. citizens or lawful permanent residents. Business importers would need a real U.S. street address and at least one U.S. citizen or green-card owner or employee; affiliates would qualify only if the U.S. parent has operated 3 years, has 1,500 U.S. employees, and $1,000,000 in U.S. receipts or assets and files a liability certification. Duties, taxes, and fees would have to be paid by electronic transfer from a U.S.-chartered bank account in the importer’s (or specified affiliate’s) legal name, with account and routing numbers and a bank attestation that AML identity checks were done before first use. CBP would accept payment only from the importer, the importer’s surety, or a designated customs broker and only from qualifying accounts. Continuous import bonds would have to be at least $100,000 for new bonds issued 60 days after enactment and for renewals 360 days after enactment; CBP could require adjustments to existing bonds after 60 days. Customs brokers could not use a broker-held bond unless they are the importer of record, with a narrow exception for certain large U.S. express carriers that meet strict presence and ownership tests (including at least 300,000 U.S. employees). Most of these rules would apply to goods entered on or after one year after enactment.