# 119-s-4206: Know Your American Customer Act

119-s-4206, Know Your American Customer Act, is a 119th Congress bill sponsored by Sen. Cotton, Tom [R-AR] (R-AR); status introduced; PRIA reads it as touching household money (as of 2026-07-25).

- Canonical: https://policyrisk.com/legislation/119-s-4206
- As of: 2026-07-25
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-4206
- Congress: 119
- Title: Know Your American Customer Act
- Status: introduced
- Introduced: 2026-03-25
- Sponsor: Sen. Cotton, Tom [R-AR] (R-AR)
- Cosponsors: 0
- Policy area: Immigration
- Touches household money: yes
- Last recorded action: 2026-07-25

## Summary

**Verify citizenship or lawful presence for retail bank accounts.** This bill would require insured banks and credit unions to check specific identity and immigration documents before opening or continuing most individual deposit accounts. - People not lawfully present in the United States would generally be barred from opening or maintaining an account at a covered institution. - People with a limited period of authorized stay would need to certify their basis and expiration on a Treasury form. They would get a 30-day full-access grace period after expiration and a 60-day restricted period where deposits are allowed but withdrawals and transfers are blocked unless they update documentation. - Covered institutions would have to verify listed documents starting 90 days after enactment, such as REAL ID-compliant state IDs, U.S. passports, birth certificates, permanent resident cards, or DHS I-94/visa records. The Financial Crimes Enforcement Network would enforce civil penalties, safe harbors would protect good-faith reliance, and accounts opened by legal entities are excluded.

## Provisions PRIA read

- Exempt business and foreign accounts: benefit, medium. If enacted, the verification and eligibility rules would not apply to accounts opened by legal entities such as corporations or partnerships. The rules would also exclude accounts held by nonresident aliens who are not physically in the U.S., accounts of foreign persons or entities not resident or…
- Account bans for people without lawful presence: cost, high. If enacted, covered banks and credit unions generally could not open or keep accounts for people who are not lawfully present in the United States. For people who opened accounts using a temporary authorized stay, the bill would require a Treasury form showing the stay and its end date. After that…
- New ID checks to open accounts: cost, medium. If enacted, beginning 90 days after enactment, people who try to open most retail accounts at insured banks or credit unions would have to show one original or certified document proving U.S. citizenship or lawful presence. Acceptable documents would include REAL ID driver's licenses or IDs, U.S. p…
- Bank enforcement rules and protections: mixed, medium. If enacted, the Treasury would enforce these rules through FinCEN and coordinate with the National Credit Union Administration for credit unions. The Treasury must issue interim guidance within 30 days and final regulations within 90 days covering freeze and close procedures, notices, handling inco…

## Related bills

- 119-s-2342: Intelligence Authorization Act for Fiscal Year 2026
- 119-s-4615: Intelligence Authorization Act for Fiscal Year 2027
- 119-s-2142: GOLDEN DOME Act of 2025
- 119-s-1748: Kids Online Safety Act
- 119-s-2010: TERMS Act
- 119-s-292: Educational Choice for Children Act of 2025

## Sources
- [119-s-4206 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/4206)

## Related
- [119-s-2342: Intelligence Authorization Act for Fiscal Year 2026](https://policyrisk.com/legislation/119-s-2342)
- [119-s-4615: Intelligence Authorization Act for Fiscal Year 2027](https://policyrisk.com/legislation/119-s-4615)
- [119-s-2142: GOLDEN DOME Act of 2025](https://policyrisk.com/legislation/119-s-2142)
- [119-s-1748: Kids Online Safety Act](https://policyrisk.com/legislation/119-s-1748)
- [119-s-2010: TERMS Act](https://policyrisk.com/legislation/119-s-2010)
- [119-s-292: Educational Choice for Children Act of 2025](https://policyrisk.com/legislation/119-s-292)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-4206 (as of 2026-07-25).