The SAFE HIRE Act requires large publicly traded companies to certify their compliance with federal employment eligibility verification laws in their annual financial reports filed with the Securities and Exchange Commission. Specifically, company executives—including the CEO and top human resources officer—must verify that their organization maintains proper systems to check workers' legal authorization and prevent hiring unauthorized employees, and they must disclose any significant compliance failures or violations to federal immigration authorities. The law affects any company whose securities are publicly registered or required to file reports with the SEC. Executives who knowingly provide false certifications face criminal penalties of up to $1 million in fines and 10 years in prison, with enhanced penalties of up to $5 million and 20 years in prison if the violations involve hiring unauthorized workers. The SEC, in consultation with the Department of Homeland Security and Department of Justice, has one year to establish the specific rules and procedures for implementing these new reporting requirements.
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