RIFA Act

HR 6165, the RIFA Act, requires large private U.S. colleges and universities (non-public institutions with over $6 billion in assets or over $250 million in "investments of concern") to annually report foreign-linked investments. These institutions must disclose the types, total value, and sales of investments tied to foreign countries or entities deemed security threats (e.g., nations under sanctions or listed as national security risks). Reports, due July 1 each year, include detailed financial data and must be published in a public online database. The law also mandates institutions to appoint a compliance officer and share reports with federal agencies like the FBI and National Security Council.