Securing Accountability in Foreign Entries Act

The Securing Accountability in Foreign Entries (SAFE) Act proposes to tighten regulations on who can act as an "importer of record" for goods entering the United States. Currently, foreign entities can often import products without a significant physical presence in the U.S., which proponents of the bill argue makes it difficult for the government to collect unpaid duties or penalize fraudulent actors. This bill would require importers to maintain a "meaningful U.S. nexus," such as having a physical office and at least one full-time employee who is a U.S. citizen or permanent resident.

Beyond physical presence, the legislation aims to increase financial transparency by requiring importers to pay all duties, taxes, and fees directly from a verified U.S. bank account. This account would be subject to anti-money laundering verification before any goods could be cleared for entry. The bill also proposes increasing the minimum bond requirement to $100,000 for certain importers to ensure they have sufficient financial backing to cover potential debts to U.S. Customs and Border Protection.