App. 102(a)), with respect to each source of income, 
each asset, and each liability associated with the 
country; and 
(2) a detailed description of the nature of the 
association of each such source of income, asset, or 
liability with the country. 
SEC. 6. EFFECT OF FAILURE TO TIMELY DISCLOSE. 
(a) TARIFF MODIFICATIONS.—If the President fails 
to submit a report required by this Act with respect to 
an action modifying tariff treatment with respect to arti-
cles imported from a country by the time required by this 
Act, any instrument providing for the modification of such 
tariff treatment shall have no force or effect. 
(b) TRADE AND INVESTMENT AGREEMENTS.—If the 
President fails to submit a report required by section 2 
with respect to negotiations for a trade or investment 
agreement with a country by the time required by that 
section, the implementing bill submitted to Congress with 
respect to that agreement shall not be eligible for the trade 
authorities procedures under section 103 of the Bipartisan 
Congressional Trade Priorities and Accountability Act of 
2015 (19 U.S.C. 4202). 
SEC. 7. DEFINITIONS. 
In this Act: 
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(1) ASSOCIATED WITH A COUNTRY.—The term 
‘‘associated with a country’’ or ‘‘associated with the 
country’’— 
(A) with respect to an asset, means— 
(i) any financial account maintained 
by a financial institution that is a person 
of the country; 
(ii) any stock or security issued by a 
person of the country; 
(iii) any financial instrument or con-
tract held for investment that has an 
issuer or counterparty that is a person of 
the country; 
(iv) any interest in a person of the 
country; or 
(v) any real property located in the 
country or in which a person of the coun-
try, including any representative or agent 
of the government of the country, has a fi-
nancial interest; 
(B) with respect to income, includes divi-
dends, rents, interest, or capital gains or any 
other income (as defined in section 61 of the 
Internal Revenue Code of 1986) received di-
rectly or indirectly from an asset associated 
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with the country or any gift or reimbursement 
received from a person of the country, including 
any representative or agent of the government 
of the country; and 
(C) with respect to a liability, refers to any 
liability owed to any creditor that is a person of 
the country, including an enterprise owned or 
controlled by the government of the country. 
(2) PERSON OF THE COUNTRY.— 
(A) IN GENERAL.—Except as provided in 
subparagraph (B), with respect to a country, 
the term ‘‘person of the country’’ means— 
(i) an individual who is a citizen of 
the country; or 
(ii) a branch, partnership, group or 
subgroup, association, estate, trust, cor-
poration or division of a corporation, or 
other organization if— 
(I) it is organized under the laws 
of the country; 
(II) its principal place of business 
is in the country; or 
(III) its equity securities are pri-
marily traded on one or more ex-
changes of the country. 
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(B) EXCEPTION.—The term ‘‘person of the 
country’’ does not include any branch, partner-
ship, group or subgroup, association, estate, 
trust, corporation or division of a corporation, 
or other organization for which it is dem-
onstrated that a majority of the equity interest 
in the organization is ultimately owned by na-
tionals of the United States. 
Æ 
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