This bill amends Title 31 of the United States Code to require certain financial institutions to verify the citizenship and legal status of individuals. Specifically, insured depository institutions and insured credit unions , termed "covered institutions," are prohibited from opening or maintaining accounts for "covered individuals" who are not lawfully present in the United States. Covered individuals include those seeking to open new accounts, certain existing account holders, and individuals exercising substantial control over legal entities opening accounts. New account holders must present specific documents, such as a U.S. passport, a REAL ID-compliant driver's license, or a Permanent Resident Card, to prove their lawful presence. For individuals with a temporary period of authorized stay, the bill requires certification of their stay's expiration date. If updated documentation of lawful presence is not provided after their authorized stay expires, accounts will enter a 30-day grace period, followed by a 60-day restriction period allowing only incoming deposits before final closure. Individuals not lawfully present who open or maintain active accounts face criminal penalties, including fines up to $1,000,000 and one year imprisonment, with exceptions for those whose authorized stay expired within 90 days or who have pending asylum applications. Covered institutions also face civil penalties for violations, though safe harbors exist for good-faith compliance, and the Secretary of the Treasury, through the Financial Crimes Enforcement Network, is tasked with enforcement and rulemaking.