[Federal Register Volume 61, Number 156 (Monday, August 12, 1996)]
[Notices]
[Pages 41833-41834]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-20496]


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DEPARTMENT OF THE TREASURY

Proposed Collection; Comment Request

AGENCY: Financial Crimes Enforcement Network, Treasury.

ACTION: Notice.

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SUMMARY: In order to comply with the requirements of the Paperwork 
Reduction Act of 1995 concerning proposed extensions of information 
collection requirements, the Financial Crimes Enforcement Network 
(``FinCEN'') is soliciting public comments on the information collected 
on currency and monetary instrument transportation involving 
individuals under the Bank Secrecy Act regulations on U.S. Customs 
Service Form 4790, Report of International Transportation of Currency 
or Monetary Instruments (``CMIR'').

DATES: Submit written comments by October 11, 1996.

ADDRESSES: Direct all written comments to the Financial Crimes 
Enforcement Network, Office of Regulatory Policy and Enforcement, 
Attn.: CMIR Comments, Suite 200, 2070 Chain Bridge Road, Vienna, VA 
22182-2536.


[[Page 41834]]


FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
for a copy of the form should be directed to Charles D. Klingman, 
Office of Financial Institutions Policy, at (703) 905-3920; or Cynthia 
A. Langwiser, Attorney-Advisor, Office of Legal Counsel, at (703) 905-
3590. A copy of the CMIR form, as well as all other forms required by 
the Bank Secrecy Act, can be obtained through the Internet at http://
www.irs.ustreas.gov/prod/forms__pubs/forms.html.

SUPPLEMENTARY INFORMATION: The Bank Secrecy Act, Titles I and II of 
Pub. L. 91-508, as amended, codified at 12 U.S.C. 1829b, 12 U.S.C. 
1951-1959, and 31 U.S.C. 5311-5314, 5316-5330, authorizes the Secretary 
of the Treasury, inter alia, to issue regulations requiring records and 
reports that are determined to have a high degree of usefulness in 
criminal, tax, and regulatory matters. Regulations implementing Title 
II of the Bank Secrecy Act (codified at 31 U.S.C. 5311-5314, 5316-5330) 
appear at 31 CFR Part 103. The authority of the Secretary to administer 
the Bank Secrecy Act regulations has been delegated to the Director of 
FinCEN.
    The Bank Secrecy Act specifically states that ``a person or an 
agent or bailee of the person shall file a report * * * when the 
person, agent, or bailee knowingly--(1) Transports, is about to 
transport, or has transported, monetary instruments of more than 
$10,000 at one time--(A) from a place in the United States to or 
through a place outside the United States; or (B) to a place in the 
United States from or through a place outside the United States; or (2) 
receives monetary instruments of more than $10,000 at one time 
transported into the United States from or through a place outside the 
United States.'' 31 U.S.C. 5316(a). The requirement of 31 U.S.C. 
5316(a) has been implemented through regulations promulgated at 31 CFR 
103.23 and through the instructions to the Report of International 
Transportation of Currency or Monetary Instruments, U.S. Customs 
Service Form 4790.
    Information collected on the CMIR is made available, in accordance 
with strict safeguards, to appropriate criminal law enforcement and 
regulatory personnel in the official performance of their duties. The 
information contained is of use in investigations involving 
international and domestic money laundering, tax evasion, fraud, and 
other financial crimes.
    This notice does not propose any change to the current text of the 
Report of International Transportation of Currency or Monetary 
Instruments or to its instructions. However, FinCEN intends to replace 
the current OMB Control Number for this collection requirement (1515-
0079) with a new OMB Control Number, 1506-0005. FinCEN believes that by 
centralizing responsibility for Bank Secrecy Act information collection 
requirements, it will be easier to maintain oversight over the 
collection requirement. Accordingly, this collection requirement notice 
is in the form of an extension, and if approved, the existing OMB 
Control Number 1515-0079 for this collection requirement will be 
withdrawn, so as to avoid duplication.
    In accordance with requirements of the Paperwork Reduction Act of 
1995, 44 U.S.C. 3506(c)(2)(A), and its implementing regulations, 5 CFR 
1320, the following information concerning the collection of 
information on U.S. Customs Service Form 4790 is presented to assist 
those persons wishing to comment on the information collection. (The 
number of respondents has significantly varied each year; the estimates 
below are based on an average.)
    Title: Report of International Transportation of Currency or 
Monetary Instruments.
    Form Number: U.S. Customs Service Form 4790.
    OMB Number: 1506-0005.
    Description of Respondents: All persons.
    Estimated Number of Respondents: 200,000.
    Frequency: As required.
    Estimate of Burden: Reporting average of 13 minutes per response; 
recordkeeping average of 2 minutes per response.
    Estimate of Total Annual Burden on Respondents: Reporting burden 
estimate = 43,333 hours; recordkeeping burden estimate = 6,667 hours. 
Estimated combined total of 50,000 hours.
    Estimate of Total Annual Cost to Respondents for Hour Burdens: 
Based on $20 per hour, the total cost to the public is estimated to be 
$1,000,000.
    Estimate of Total Other Annual Costs to Respondents: None.
    Type of Review: Extension.
    FinCEN specifically invites comments on the following subjects: (a) 
Whether the proposed collection of information is necessary for the 
proper performance of the mission of FinCEN, including whether the 
information shall have practical utility; (b) the accuracy of FinCEN's 
estimate of the burden of the proposed collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; and (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology.
    In addition, the Paperwork Reduction Act of 1995 requires agencies 
to estimate the total annual cost burden to respondents or 
recordkeepers resulting from the collection of information. Thus, 
FinCEN also specifically requests comments to assist with this 
estimate. In this connection, FinCEN requests commenters to identify 
any additional costs associated with the completion of the form. These 
comments on costs should be divided into two parts: (1) Any additional 
costs associated with reporting; and (2) any additional costs 
associated with recordkeeping.
    Responses to this notice will be summarized and included in 
FinCEN's request for Office of Management and Budget approval. All 
comments will become a matter of public record.

    Dated: August 6, 1996.
Stanley E. Morris,
Director, Financial Crimes Enforcement Network.
[FR Doc. 96-20496 Filed 8-9-96; 8:45 am]
BILLING CODE 4820-03-P