[Code of Federal Regulations]

[Title 31, Volume 1]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 31CFR103.26]



[Page 391-392]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

                       DEPARTMENT OF THE TREASURY

 

PART 103_FINANCIAL RECORDKEEPING AND REPORTING OF CURRENCY AND FOREIGN 

TRANSACTIONS--Table of Contents

 

                  Subpart B_Reports Required To Be Made

 

Sec. 103.26  Reports of certain domestic coin and currency transactions.



    (a) If the Secretary of the Treasury finds, upon the Secretary's own 

initiative or at the request of an appropriate Federal or State law 

enforcement official, that reasonable grounds exist for concluding that 

additional recordkeeping and/or reporting requirements are necessary to 

carry out the purposes of this part and to prevent persons from evading 

the reporting/recordkeeping requirements of this part, the Secretary may 

issue an order requiring any domestic financial institution or group of 

domestic financial institutions in a geographic area and any other 

person participating in the type of transaction to file a report in the 

manner and to the extent specified in such order. The order shall 

contain such information as the Secretary may describe concerning any 

transaction in which such financial institution is involved for the 

payment, receipt, or transfer of United States coins or currency (or 

such other monetary instruments as the Secretary may describe in such 

order) the total amounts or denominations of which are equal to or 

greater than an amount which the Secretary may prescribe.

    (b) An order issued under paragraph (a) of this section shall be 

directed to the Chief Executive Officer of the financial institution and 

shall designate one or more of the following categories of information 

to be reported: Each deposit, withdrawal, exchange of currency or other 

payment or transfer, by, through or to such financial institution 

specified in the order, which involves all or any class of transactions 

in currency and/or monetary instruments equal to or exceeding an amount 

to be specified in the order.

    (c) In issuing an order under paragraph (a) of this section, the 

Secretary will prescribe:

    (1) The dollar amount of transactions subject to the reporting 

requirement in the order;

    (2) The type of transaction or transactions subject to or exempt 

from a reporting requirement in the order;

    (3) The appropriate form for reporting the transactions required in 

the order;

    (4) The address to which reports required in the order are to be 

sent or from which they will be picked up;

    (5) The starting and ending dates by which such transactions 

specified in the order are to be reported;

    (6) The name of a Treasury official to be contacted for any 

additional information or questions;

    (7) The amount of time the reports and records of reports generated 

in response to the order will have to be retained by the financial 

institution; and

    (8) Any other information deemed necessary to carry out the purposes 

of the order.

    (d)(1) No order issued pursuant to paragraph (a) of this section 

shall prescribe a reporting period of more than 60 days unless renewed 

pursuant to the requirements of paragraph (a).

    (2) Any revisions to an order issued under this section will not be 

effective until made in writing by the Secretary.

    (3) Unless otherwise specified in the order, a bank receiving an 

order under this section may continue to use the exemptions granted 

under Sec. 103.22 of this part prior to the receipt of the order, but 

may not grant additional exemptions.

    (4) For purposes of this section, the term geographic area means any 

area in one or more States of the United States, the District of 

Columbia, the Commonwealth of Puerto Rico, the United States Virgin 

Islands, Guam, the Commonwealth of the Northern



[[Page 392]]



Mariana Islands, American Samoa, the Trust Territory of the Pacific 

Islands, the territories and possessions of the United States, and/or 

political subdivision or subdivisions thereof, as specified in an order 

issued pursuant to paragraph (a) of this section.



(Approved by the Office of Management and Budget under control number 

1505-0063)



[54 FR 33679, Aug. 16, 1989]