Requires many U.S. tax-exempt organizations to file annual reports listing any gifts or contributions over $10,000 from specified foreign governments, foreign political parties, or foreign-directed entities, and directs the Treasury/IRS to publish that information in a searchable public database. The law also directs the IRS to report annual totals specifically for the People’s Republic of China, the Chinese Communist Party, and entities directed or controlled by them.

The change is added to the Internal Revenue Code, applies to returns for taxable years beginning after enactment, and creates new recordkeeping, reporting, and public-transparency obligations for affected nonprofits, colleges, think tanks, museums, and other tax-exempt groups, while imposing a new publication duty on the Secretary of the Treasury/IRS.