Requirement for immigration status verification in customer identification programs

(a)

In general

Section 5318(l) of title 31, United States Code, is amended—(1)in paragraph (2)—(A)in subparagraph (B), by striking and at the end;(B)in subparagraph (C), by striking the period at the end and inserting ; and; and(C)by adding at the end the following:

(D)requiring any individual who is present in the United States and seeking to open an account to attest, under penalty of perjury, to the individual’s lawful presence in the United States, including by checking a box or similar affirmation on the deposit account application form indicating whether the individual is a United States citizen, a lawful permanent resident, or otherwise lawfully present in the United States, as defined by the Secretary of Homeland Security in consultation with the Secretary of the Treasury.

; and

(2)by adding at the end the following:

(7)

Prohibition on opening accounts for unlawfully present individuals

A financial institution may not open or maintain an account for any individual who fails to provide the attestation required under paragraph (2)(D).(8)

Penalties for individuals

(A)

Civil penalty

Any individual who knowingly makes a false attestation described in paragraph (2)(D) is liable for a civil penalty of not less than $10,000 and not more than $50,000.(B)

Criminal penalty

Any individual who knowingly makes a false attestation described in paragraph (2)(D) shall be fined under title 18, United States Code, imprisoned not more than 5 years, or both. Notwithstanding title 18, United States Code, the fine under this subparagraph shall not exceed $250,000.(C)

Forfeiture of assets

(i)

Civil forfeiture

In the case of an individual knowingly making a false attestation described in paragraph (2)(D) in connection with an account, any property contained in the account, regardless of when such property was placed in the account, and any property otherwise traceable to the account, may be seized and forfeited to the United States in accordance with the procedures governing civil forfeitures in money laundering cases pursuant to section 981(a)(1)(A) of title 18, United States Code.(ii)

Criminal forfeiture

(I)

In general

A court, in imposing sentence for an individual knowingly making a false attestation described in paragraph (2)(D) in connection with an account, shall order the defendant to forfeit all property contained in the account, regardless of when such property was placed in the account, and any property otherwise traceable to the account.(II)

Procedure

Forfeitures under this clause shall be governed by the procedures established in section 413 of the Controlled Substances Act.(9)

Reporting requirement

A financial institution that has reason to believe an individual has made a false attestation described in paragraph (2)(D) shall report such belief to the Secretary of Homeland Security and the Attorney General.