Past generations of nuclear reactors have been successively developed and the next generation is currently being developed, demonstrating the constant progress and technical and industrial vitality of nuclear energy. In 2000 US Department of Energy launched Generation IV International Forum (GIF) which is one of the main international frameworks for the development of future nuclear systems. The six systems that were selected were: sodium cooled fast reactor, lead cooled fast reactor, supercritical water cooled reactor, very high temperature gas cooled reactor (VHTR), gas cooled fast reactor and molten salt reactor. This paper discusses some of the proposed advanced reactor concepts that are currently being researched to varying degrees in the United States, and highlights some of the major challenges these concepts must overcome to establish their feasibility and to satisfy licensing requirements.