Audio Home Recording Act of 1992

Audio Home Recording Act of 1992 - Amends Federal copyright law to set forth definitions relating to digital audio recording devices and media.

Prohibits the importation, manufacture, or distribution of any digital audio recording device or interface device that does not conform to the Serial Copy Management System or any other system certified by the Secretary of Commerce as prohibiting unauthorized serial copying.

Sets forth a mandatory filing procedure for the importation, manufacture, or distribution in the United States of digital audio recording devices or media. Requires importers and manufacturers to file quarterly and annual statements of account with the Register of Copyrights (the Register). Mandates Register verification and audit of such statements. Provides for confidentiality of statement information.

Prescribes royalty payment guidelines for digital audio recording devices and media imported, manufactured, or distributed in the United States. Requires that royalty payments be deposited into the Treasury. Identifies interested copyright parties entitled to royalty payments. Prescribes royalty payment allocation and distribution procedures. Permits alternative royalty collection and distribution arrangements to be negotiated among interested copyright parties.

Prohibits certain copyright infringement actions based on the manufacture, importation, or distribution of digital or analog audio recording devices or media or on the noncommercial use by a consumer of such devices or media for making musical recordings.

Sets forth civil remedies for violations of this Act, including impoundment, remedial modification and destruction of non-complying devices, and binding arbitration.