; nonresident importer The terms importer and nonresident importer have the meanings given those terms in section 641(i). (2) Resident importer The term resident importer means any importer other than a nonresident importer. (b) Requirements for nonresident importers Except as provided in subsection (c), the Commissioner of U.S. Customs and Border Protection shall— (1) require a nonresident importer that imports merchandise into the United States to maintain assets in the United States sufficient to pay all duties that may potentially be applied to the merchandise; and (2) require a bond with respect to the merchandise in an amount sufficient to ensure full liability on the part of a nonresident importer and the surety of the importer based on the amount of assets the Commissioner determines to be sufficient under subsection (c). (c) Determination of amount of assets required To Be maintained For purposes of subsection (b)(1), the Commissioner shall calculate the amount of assets sufficient to pay all duties that may potentially be applied to merchandise imported by a nonresident importer based on an amount that exceeds the amount, calculated using the fair market value of the merchandise, of all duties, fees, interest, taxes, or other charges, and all deposits for duties, fees, interest, taxes, or other charges, that would apply with respect to the merchandise if the merchandise were subject to the highest rate of duty applicable to such merchandise imported from any country. (d) Maintenance of assets in the United States (1) In general For purposes of subsection (b)(1), a nonresident importer of merchandise meets the requirement to maintain assets in the United States if the importer has clear title, at all times between the entry of the merchandise and the liquidation of the entry, to assets described in paragraph (2) with a value equal to the amount determined under subsection (c). (2) Assets described An asset described in this paragraph is— (A) an asset held by a United States financial institution