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119-hr-9772119th CongressWALLET

Foreign Funding Transparency Act

Sponsored By: Representative Schweikert, David [R-AZ-1]

In Committee

Summary

Public reporting of foreign contributions This bill would require many larger tax-exempt organizations to disclose annual totals of donations from foreign nationals and break those totals out by each foreign country of concern.

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  • Large tax-exempt organizations would report the aggregate amount of contributions from foreign nationals and the amount from each country of concern on their Form 990. Covered groups are 501(c) organizations with either $200,000 or more in gross receipts or $500,000 or more in assets in the prior year.
  • Donor rules define citizenship and country. For individuals the country is the donor's citizenship and for other donors it is the country where the entity is organized. Organizations may rely on a donor's statement of nationality unless they know it is false.
  • The Secretary of the Treasury would set timing and collection rules and could require organizations to gather this information in forms and at times the Secretary prescribes. The reporting would apply to returns for taxable years beginning one year after enactment.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

New foreign donation reports for nonprofits

If enacted, covered 501(c) nonprofits would have to report each year the total contributions they receive from foreign nationals. They would list amounts separately for each "foreign country of concern." A nonprofit is covered if its prior-year gross receipts were $200,000 or more or its prior-year year-end assets were $500,000 or more. Donations from a person would count for each country where that person is a citizen; other donors would be attributed to the country under whose laws the donor was created or organized. Organizations could rely on a donor's statement of nationality unless they knew it was false. The Treasury Secretary could require when and how nonprofits collect this information. The rule would apply to returns filed for taxable years beginning one year after enactment.

Sponsors & CoSponsors

Sponsor

Schweikert, David [R-AZ-1]

AZ • R

Cosponsors

  • Rep. Fine, Randy [R-FL-6]

    FL • R

    Sponsored 7/30/2026

Roll Call Votes

No roll call votes available for this bill.

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