1. Short title This Act may be cited as the No Chinese Communist Subterfuge via Unregistered Regime Presence Rendered Invisible to Shareholders and Equivalent Parties Act or the No Chinese Communist SURPRISE Parties Act . 2. Reporting requirement (a) Definitions In this section— (1) the term Commission means the Securities and Exchange Commission; (2) the term covered issuer means an issuer, including a foreign private issuer, that is required to file annual reports with the Commission under section 13(a) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78m(a) ); (3) the term issuer has the meaning given the term in section 3(a) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a) ); (4) the term joint venture partner , with respect to a covered issuer, means— (A) a joint venture in which the covered issuer, or a subsidiary with respect to the covered issuer, is a party; or (B) any other person that is a party in a joint venture described in subparagraph (A); and (5) the term subsidiary , with respect to a covered issuer, means a wholly or partially owned subsidiary of the covered issuer. (b) Requirement Each covered issuer, in each annual report that the covered issuer files with the Commission (beginning with the second annual report that the covered issuer files with the Commission after the date of enactment of this Act), shall— (1) disclose whether the covered issuer, or any subsidiary or joint venture partner with respect to the covered issuer, has established or maintained an organization of the Chinese Communist Party during the period covered by the report; (2) if an organization of the Chinese Communist Party has participated in the operations of the covered issuer, or of any subsidiary or joint venture partner with respect to the covered issuer, during the period covered by the report, summarize that participation