To passively achieve an inertial device with unidirectional force transmission similar to Bang Bang control, this study introduces a novel energy dissipation device known as the resettable‐inertia damper (RID). The ingenious motion principles of the RID, encompassing a rack‐and‐pinion, bevel gear commutation system, speed transmission, and eddy current damping, are elucidated in detail. In particular, a unidirectional rotational flywheel within the device selectively engages when the primary structure reciprocates. The physical mass of the flywheel undergoes conversion into an amplified inertia through the rack‐and‐pinion mechanism, which enables the enhancement of damping effects coupling the flywheel rotation and eddy current configuration. A coupled multibody dynamic model, combining the clutching effect, the flywheel inertia, and the rotational damping, is formulated to analyze the system with RID (RIDS). Currently, an analysis of the hysteretic behaviors of RID is carried out. To facilitate the design and evaluation of the performance of RIDS, an equivalent linearization method is proposed for RIDS. The feasibility of this simplified method is validated under harmonic excitation. Additionally, the study examines the performance of equivalent linear systems (ELSs) and RIDS under natural ground motions and stochastic stationary excitation in peak and variance responses levels, respectively. Comparison of RID with traditional inerter shows that RID can achieve a more pronounced control with less force transferred to the structure and with the potential to recover vibration energy, highlighting its unique advantages.