A new legislative proposal would impose new requirements on non-resident businesses that wish to serve as the importer of record (IOR) for imports to the United States.
The Securing Accountability in Foreign Entries Act would require foreign companies that act as IORs to become resident importers, by requiring them to be:
- a U.S. citizen or lawful permanent resident or an entity with a physical U.S. business location and at least one owner who is a U.S. citizen or permanent resident;
- a company from Canada or Australia (additional countries could be added as exceptions if they provide non-resident reciprocal status for U.S. entities);
- an affiliate of a U.S. entity that (1) has been operating continuously for at least three years, maintains at least 1,500 full-time employees in the U.S., and has at least $1 million in U.S. gross receipts or assets, and (2) is designated as the agent for service of process and has accepted liability for all duties, taxes, fees, and penalties when acting as the IOR.
The bill would also impose minimum financial security obligations and third-party payment restrictions on those entities acting as the IOR. If the bill becomes law, U.S. Customs and Border Protection would have a year to establish the accompanying regulations and compliance requirements.
The text of the bill can be found here: https://www.cassidy.senate.gov/wp-content/uploads/2026/03/ROS26221.pdf