[Code of Federal Regulations]
[Title 31, Volume 1]
[Revised as of July 1, 2006]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR103.26]

[Page 399-400]
 
                  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

[[Page 400]]

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 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]