31 CFR 1010.311 Filing obligations for reports of transactions in currency (CTR)
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Financial Crimes Enforc. Network, Treas. § 1010.311
[81 FR 29451, May 11, 2016, as amended at 82 tary instruments not physically ac-
FR 45183, Sept. 28, 2017] companying a person entering or de-
parting from the United States, may be
Subpart C—Reports Required To filed by mail on or before the date of
Be Made entry, departure, mailing or shipping.
All reports required by § 1010.340(b) may
§ 1010.300 General. also be filed by mail. Reports filed by
Each financial institution (as defined mail shall be addressed to the Commis-
in 31 U.S.C. 5312(a)(2) or (c)(1)) should sioner of Customs and Border Protec-
refer to its chapter X part for any addi- tion, Attention: Currency Transpor-
tional reporting requirements. Unless tation Reports, Washington, DC 20229.
otherwise indicated, the reporting re- (c) Reports required to be filed by
quirements contained in this subpart C § 1010.350 shall be filed with FinCEN on
apply to all financial institutions. or before June 30 of each calendar year
with respect to foreign financial ac-
§ 1010.301 Determination by the Sec- counts exceeding $10,000 maintained
retary. during the previous calendar year.
The Secretary hereby determines (d) Reports required by § 1010.311,
that the reports required by this chap- § 1010.313, § 1010.340, § 1010.350, § 1020.315,
ter have a high degree of usefulness in § 1021.311 or § 1021.313 of this chapter
criminal, tax, or regulatory investiga- shall be filed on forms prescribed by
tions or proceedings. the Secretary. All information called
for in such forms shall be furnished.
§ 1010.305 [Reserved] (e) Forms to be used in making the
reports required by § 1010.311, § 1010.313,
§ 1010.306 Filing of reports. § 1010.350, § 1020.315, § 1021.311 or § 1021.313
(a)(1) A report required by § 1010.311 of this chapter may be obtained from
or § 1021.311, shall be filed by the finan- BSA E-Filing System. Forms to be
cial institution within 15 days fol- used in making the reports required by
lowing the day on which the reportable § 1010.340 may be obtained from the U.S.
transaction occurred. Customs and Border Protection or
(2) A copy of each report filed pursu- FinCEN.
ant to §§ 1010.311, 1010.313, 1020.315, [75 FR 65812, Oct. 26, 2010, as amended at 81
1021.311 and 1021.313, shall be retained FR 76864, Nov. 4, 2016]
by the financial institution for a period
of five years from the date of the re- § 1010.310 Reports of transactions in
port. currency.
(3) All reports required to be filed by Sections 1010.310 through 1010.314 set
§§ 1010.311, 1010.313, 1020.315, 1021.311 and forth the rules for the reporting by fi-
1021.313, shall be filed with FinCEN, un- nancial institutions of transactions in
less otherwise specified. currency. Unless otherwise indicated,
(b)(1) A report required by the transactions in currency reporting
§ 1010.340(a) shall be filed at the time of requirements in §§ 1010.310 through
entry into the United States or at the 1010.314 apply to all financial institu-
time of departure, mailing or shipping tions. Each financial institution should
from the United States, unless other- refer to subpart C of its chapter X part
wise specified by the Commissioner of for any additional transactions in cur-
Customs and Border Protection. rency reporting requirements.
(2) A report required by § 1010.340(b)
shall be filed within 15 days after re- § 1010.311 Filing obligations for re-
ceipt of the currency or other mone- ports of transactions in currency.
tary instruments. Each financial institution other than
(3) All reports required by § 1010.340 a casino shall file a report of each de-
shall be filed with the Customs officer posit, withdrawal, exchange of cur-
in charge at any port of entry or depar- rency or other payment or transfer, by,
ture, or as otherwise specified by the through, or to such financial institu-
skersey on DSK4WB1RN3PROD with CFR
Commissioner of Customs and Border tion which involves a transaction in
Protection. Reports required by currency of more than $10,000, except
§ 1010.340(a) for currency or other mone- as otherwise provided in this section.
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§ 1010.312 31 CFR Ch. X (7–1–25 Edition)
In the case of the U.S. Postal Service, in currency reporting requirements in
the obligation contained in the pre- this chapter.
ceding sentence shall not apply to pay- (b) Multiple transactions. In the case
ments or transfers made solely in con- of financial institutions other than ca-
nection with the purchase of postage or sinos, for purposes of the transactions
philatelic products. in currency reporting requirements in
this chapter, multiple currency trans-
§ 1010.312 Identification required. actions shall be treated as a single
Before concluding any transaction transaction if the financial institution
with respect to which a report is re- has knowledge that they are by or on
quired under § 1010.311, § 1010.313, behalf of any person and result in ei-
§ 1020.315, § 1021.311 or § 1021.313 of this ther cash in or cash out totaling more
chapter, a financial institution shall than $10,000 during any one business
verify and record the name and address day (or in the case of the U.S. Postal
of the individual presenting a trans- Service, any one day). Deposits made
action, as well as record the identity, at night or over a weekend or holiday
account number, and the social secu- shall be treated as if received on the
rity or taxpayer identification number, next business day following the de-
if any, of any person or entity on whose posit.
behalf such transaction is to be ef-
fected. Verification of the identity of § 1010.314 Structured transactions.
an individual who indicates that he or No person shall for the purpose of
she is an alien or is not a resident of evading the transactions in currency
the United States must be made by reporting requirements of this chapter
passport, alien identification card, or with respect to such transaction:
other official document evidencing na- (a) Cause or attempt to cause a do-
tionality or residence (e.g., a Provin- mestic financial institution to fail to
cial driver’s license with indication of file a report required under the trans-
home address). Verification of identity actions in currency reporting require-
in any other case shall be made by ex- ments of this chapter;
amination of a document, other than a (b) Cause or attempt to cause a do-
bank signature card, that is normally mestic financial institution to file a re-
acceptable within the banking commu- port required under the transactions in
nity as a means of identification when currency reporting requirements of
cashing checks for nondepositors (e.g., this chapter that contains a material
a driver’s license or credit card). A omission or misstatement of fact; or
bank signature card may be relied upon (c) Structure (as that term is defined
only if it was issued after documents in § 1010.100(xx)) or assist in struc-
establishing the identity of the indi- turing, or attempt to structure or as-
vidual were examined and notation of sist in structuring, any transaction
the specific information was made on with one or more domestic financial in-
the signature card. In each instance, stitutions.
the specific identifying information
(i.e., the account number of the credit § 1010.315 Exemptions for non-bank fi-
card, the driver’s license number, etc.) nancial institutions.
used in verifying the identity of the A non-bank financial institution is
customer shall be recorded on the re- not required to file a report otherwise
port, and the mere notation of ‘‘known required by § 1010.311 with respect to a
customer’’ or ‘‘bank signature card on transaction in currency between the
file’’ on the report is prohibited. institution and a commercial bank.
§ 1010.313 Aggregation. § 1010.320 Reports of suspicious trans-
(a) Multiple branches. A financial in- actions.
stitution includes all of its domestic Each financial institution (as defined
branch offices, and any recordkeeping in 31 U.S.C. 5312(a)(2) or (c)(1)) should
facility, wherever located, that con- refer to subpart C of its financial insti-
skersey on DSK4WB1RN3PROD with CFR
tains records relating to the trans- tution part in this chapter for any ad-
actions of the institution’s domestic ditional suspicious transaction report-
offices, for purposes of the transactions ing requirements.
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