Reuters reported that the US Department of Commerce would also want to have unrestricted access to the company's premises to verify that American components were being used as claimed by the company.
In 2017, ZTE paid more than US$2.3 billion to 211 American suppliers.
The US also asked for metrics about the US components used to be posted on a website.
The company paid a fine of US$1.2 billion for the offence, but did not discipline certain employees as it agreed to do as part of the settlement.
The report said that ZTE would also be asked to appoint a new board and executive team within 30 days. However, it added that the deal had not yet been finalised and the terms could change.
The US and China have been holding talks to try and avert an all-out trade war, with a third round of talks held in Beijing last week.