Frequently asked questions
What does the INFORM Consumers Act require?
The INFORM Consumers Act requires that online marketplaces:
- Collect and verify key information (contact information, bank details, tax identification number) for high-volume sellers who earn at least $5,000 in gross revenues or complete at least 200 transactions over the course of a year
- Provide consumers with a means of reporting suspicious market activity
- Require sellers to disclose their name, contact information, and physical address to consumers if they earn at least $20,000 in revenue over the course of a year
Who needs to comply with the INFORM Consumers Act?
Any online marketplace, online retailer, or online auction site operating within the United States must comply with the requirements of the INFORM Consumers Act.
When did the INFORM Consumers Act become law?
The INFORM Consumers Act was signed into law in December 2022. Its provisions went into effect on June 27, 2023.