Securing Accountability in Foreign Entries Act

This bill, known as the Securing Accountability in Foreign Entries Act, requires importers of record to be individuals who are U.S. citizens or permanent residents, or entities with a physical U.S. location and U.S. ownership or employment. It mandates that importers pay duties directly from U.S.-based bank accounts verified through anti-money laundering procedures, and increases the minimum continuous import bond to $100,000 for most importers. The law also restricts foreign entities from serving as importers of record unless they have a U.S. subsidiary meeting specific ownership and operational criteria, while allowing major express consignment operators to designate wholly-owned U.S. customs brokers as their importers of record. These changes apply to entries made one year after the bill is enacted, with regulations to be issued within 360 days.