Prevent Corrupting Foreign Influence Act This bill amends the federal criminal code to make it unlawful for the President, the Vice President, or an immediate family member of the President or Vice President to knowingly accept or receive anything of value from a foreign state or foreign entity, subject to specified exceptions. A violator is subject to criminal penalties—a fine, a prison term of up to five years, or both. Additionally, the bill creates a new category of federal employees—immediate family members of the President or Vice President—that is subject to statutory restrictions on and penalties for soliciting or receiving a gift from a foreign government or entity. An immediate family member is a parent, parent-in-law, child, or sibling.