H.R. 5978 — Foreign Remittance Accountability and Transparency Act

This section directs the Comptroller General of the United States, in consultation with the Secretary of the Treasury, to conduct a study on foreign government programs that facilitate federal tax evasion. The study must (1) identify foreign programs explicitly designed to support remittance transfers from individuals in the United States, (2) determine whether such programs bypass U.S. tax or reporting laws and if the bypass is intentional, and (3) identify the scope, financial volume, and policy implications of such programs. The Comptroller General must submit a report to Congress with the study results and policy recommendations for enforcement or regulatory responses not later than 180 days after enactment.