[Federal Register Volume 66, Number 131 (Monday, July 9, 2001)]
[Notices]
[Pages 35828-35831]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-17089]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY


Financial Crimes Enforcement Network; Agency Information 
Collection Activities; Proposed Collection; Comment Request

AGENCY: Financial Crimes Enforcement Network (``FinCEN''), Treasury.

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

SUMMARY: In order to comply with the requirements of the Paperwork 
Reduction Act of 1995, FinCEN intends to submit the information 
collections addressed in this notice for a three-year extension of 
approval by the Office of Management and Budget (``OMB''). Prior to 
submission of the extension request, FinCEN is soliciting comment on 
those information collections (31 CFR 103.22-103.29, 103.32-103.38, 
103.64, 103.81-103.87, and Form TD F 90-22.1, Report of Foreign Bank 
and Financial Accounts).

DATES: Written comments should be received on or before September 7, 
2001, to be assured of consideration.

ADDRESSES: Direct all written comments to: Office of Chief Counsel, 
Financial Crimes Enforcement Network, Department of the Treasury, Suite 
200, 2070 Chain Bridge Road, Vienna, VA 22182-2536, Attention: PRA 
Comments--31 CFR Part 103. Comments also may be submitted by electronic 
mail to the following Internet address: 
``[email protected]'' with the caption in the body of the 
text,
``Attention: PRA Comments--Part 103.''

FOR FURTHER INFORMATION CONTACT: Requests for additional information 
should be directed to Stacie A. Larson (703) 905-3590, Office of Chief 
Counsel, FinCEN, or Cynthia L. Clark, Deputy Chief Counsel, FinCEN 
(703) 905-3590. A searchable guide to the Code of Federal Regulations 
can be found on the Internet at: http://www.access.gpo.gov/nara/cfr.

SUPPLEMENTARY INFORMATION: The Bank Secrecy Act, Titles I and II of 
Public Law 91-508, as amended, codified at 12 U.S.C. 1829b, 12 U.S.C. 
1951-1959, and 31 U.S.C. 5311-5330, 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. 5311-5330) appear at 
31 CFR part 103. The authority of the Secretary to administer Title II 
of the Bank Secrecy Act has been delegated to the Director of FinCEN.
    The information collected and retained under the regulations 
addressed in this notice and the information collected on Form TD F 90-
22.1 (as well as other Bank Secrecy Act reporting and recordkeeping 
requirements that are not the subject of this notice) assist federal, 
state and local law enforcement in the identification, investigation, 
and prosecution of individuals involved in money laundering, tax 
evasion, narcotics trafficking, organized crime, fraud, embezzlement 
and other crimes. The information also assists in tax collection and 
examination and other regulatory matters.
    In accordance with the requirements of the Paperwork Reduction Act 
of 1995, 44 U.S.C. 3506(c)(2)(A), and its implementing regulations, the 
following information is presented concerning the information 
collections below.\1\
---------------------------------------------------------------------------

    \1\ The information collections addressed in this notice are 
currently covered by one OMB Control Number--1506-0009. FinCEN 
intends to ask OMB to assign specific control numbers to the various 
information collections so that the administration of the 
information collections will be simpler in the future.
---------------------------------------------------------------------------

    1. Title: Reports of transactions in currency (31 CFR 103.22(b)(1), 
103.27(a), 103.27(d) and 103.28).
    OMB Number: 1506-0009.
    Abstract: Financial institutions must report transactions in 
currency that exceed $10,000 (31 CFR 103.22(b)(1)).\2\ Before 
concluding any transaction with respect to which a report must be filed 
under section 103.22(b)(1), a financial institution must verify and 
record the name and address of the individual presenting the 
transaction and must record certain information about any person on 
whose behalf the transaction is conducted (31 CFR 103.28). Records of 
reports must be maintained for 5 years (31 CFR 103.27(a)).
---------------------------------------------------------------------------

    \2\ As explained below, 31 CFR 103.22(b)(2) requires casinos 
(and card clubs) to report these transactions.
---------------------------------------------------------------------------

    Current Action: There is no change to the existing regulations.
    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: Businesses or for-profit institutions, and non-
profit institutions.
    Burden: The burden for the reporting requirement in the regulations 
is reflected in the burden for IRS Form 4789. The estimated number of 
respondents is 229,200. The estimated annual number of responses is 
13,000,000, with a reporting average of 19 minutes per response and a 
recordkeeping average of 5 minutes per response. The estimated total 
for the annual burden hours is 5,200,000.
    2. Title: Reports of transactions in currency (31 CFR 
103.22(b)(2)), 103.27(a), 102.27(d), and 103.28).
    OMB Number: 1506-0009.
    Abstract: Casinos (and card clubs) must report transactions in 
currency that exceed $10,000 in one business day (31 CFR 103.22(b)(2)). 
Before concluding any transaction with respect to which a report must 
be filed under section 103.22(b)(2), a casino must verify and record 
the name and address of the individual presenting the transaction and 
must record certain information about any person on whose behalf the 
transaction is conducted (31 CFR 103.28). Records of reports must be 
maintained for 5 years (31 CFR 103.27(a)).
    Current Action: There is no change to the existing regulations.
    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: Businesses or for-profit institutions.
    Burden: The burden for the reporting requirement in the regulations 
is reflected in the burden for IRS Form 8362. The estimated number of 
respondents is 480. The estimated number of responses is 216,500, with 
a reporting average of 19 minutes per response and a recordkeeping 
average of 5 minutes per response. The estimated total for the annual 
burden hours is 86,600.
    3. Title: Transactions of exempt person (31 CFR 103.22(d), 
103.27(a) and 103.27(d)).
    OMB Number: 1506-0009.

[[Page 35829]]

    Abstract: Banks and other depository institutions (``banks'') may 
exempt from reporting under 31 CFR 103.22(b)(1) currency transactions 
exceeding $10,000 by certain customers referred to as eligible persons 
(31 CFR 103.22(d)). Banks exempt these customers by filing a form 
designating them as exempt persons and maintaining certain records 
necessary to document the basis for the exemption and compliance with 
the exemption procedures of section 103.22(d). For two categories of 
eligible persons--non-listed businesses and payroll customers--the 
exemption must be renewed every two years by certifying the application 
of the bank's suspicious activity reporting program to those customers 
and recording any changes in control of those customers on a newly 
filed designation form. Records must be maintained for five years.
    Current Action: There is no change to the existing regulations.
    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: Businesses or for-profit institutions, and non-
profit institutions.
    Burden: The burden for the reporting requirement in the regulations 
is reflected in the burden for Form TD F 90-22.53. The estimated number 
of respondents is 22,900. The estimated number of responses is 152,000 
with a combined reporting and recordkeeping average of 82 minutes per 
response. The estimated total for annual burden hours is 182,400.
    4. Title: Reports of transportation of currency or monetary 
instruments (31 CFR 103.23 and 103.27).
    OMB Number: 1506-0009.
    Abstract: A person must file a report with Treasury if the person 
knowingly transports currency or monetary instruments of more than 
$10,000 at one time into or out of the United States, or receives 
currency or 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 CFR 103.23 and 103.27).
    Current Action: There is no change to the existing regulations.
    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: Individuals, businesses or for-profit 
institutions, and non-profit institutions.
    Burden: The burden for the reporting requirement in the regulations 
is reflected in the burden for Customs Service Form 4790. The estimated 
number of responses is 180,000, with a reporting average of 11 minutes 
per response. The estimated total for the annual burden hours is 
33,000.
    5. Title: Reports of foreign financial accounts (31 CFR 103.24, 
103.27(d), 103.32) and Form TD F 90-22.1, Report of Foreign Bank and 
Financial Accounts.
    OMB Number: 1506-0009.
    Form Number: TD F 90-22.1.
    Abstract: Every person having a financial interest in, or signature 
authority over, a foreign account over $10,000 must file a report of 
the account (31 CFR 103.24, 103.27(d)) and must maintain records that 
contain the name in which the account is maintained, the number of the 
account, the name and address of the foreign bank, and the type of 
account and maximum value of the account (31 CFR 103.32).
    Current Action: There is no change to the existing regulations or 
the form.
    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: Individuals, businesses or other for-profit 
institutions, and non-profit institutions.
    Burden: The burden for the reporting requirement in the regulations 
is reflected in the burden for Form TD F 90-22.1. The estimated number 
of respondents is 170,300. The estimated number of responses is 
170,300, with a reporting average of 10 minutes per response and a 
recordkeeping average of 5 minutes per response. The estimated total 
for annual burden hours is 42,575.
    6. Title: Reports of transactions with foreign financial agencies 
(31 CFR 103.25).
    OMB Number: 1506-0009.
    Abstract: Treasury may, by regulation, require specified financial 
institutions to report transactions by persons with designated foreign 
financial agencies.
    Current Action: There is no change to the existing regulation.
    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: Businesses or for-profit institutions, and non-
profit institutions.
    Burden: The estimated number of respondents per year is 1. The 
estimated number of responses is 1, with a reporting burden of 1 hours 
per respondent, for a total annual burden of 1 hour.\3\
---------------------------------------------------------------------------

    \3\ Should FinCEN issue regulations under this authority, it 
will provide a burden estimate specific to those regulations.
---------------------------------------------------------------------------

    7. Title: Reports of certain domestic coin and currency 
transactions (31 CFR 103.26 and 103.33(d)).
    OMB Number: 1506-0009.
    Abstract: Upon a finding that additional reporting or recordkeeping 
is necessary to carry out the purposes, or prevent the evasion, of the 
Bank Secrecy Act, Treasury may issue an order requiring financial 
institutions or groups of financial institutions in certain geographic 
locations to report certain transactions in prescribed amounts for a 
limited period of time (31 CFR 103.26). Financial institutions subject 
to a geographic targeting order must maintain records for such period 
of time as the order requires but not more than 5 years (31 CFR 
103.33(d)).
    Current Action: There is no change to the existing regulation.
    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: Businesses or for-profit institutions, and non-
profit institutions.
    Burden: The estimated number of respondents per year is 3,200. The 
estimated number of responses is 17,000, with a reporting burden of 19 
minutes per response and a recordkeeping burden of 5 minutes per 
response. The total estimated annual burden is 6,800 hours.\4\
---------------------------------------------------------------------------

    \4\ Although the burden is stated as an annual burden in 
accordance with the Paperwork Reduction Act, the estimated annual 
burden is not intended to indicate that there is a geographic 
targeting order in effect throughout a year or in each year.
---------------------------------------------------------------------------

    7. Title: Purchases of bank checks and drafts, cashier's checks, 
money orders and traveler's checks (31 CFR 103.29 and 31 CFR 103.38).
    OMB Number: 1506-0009.
    Abstract: Financial institutions must maintain records of certain 
information related to the sale of bank checks and drafts, cashiers 
checks, money orders, or traveler's checks when the sale involves 
currency between $3,000-$10,000. The records must be maintained for a 
period of five years and be made available to Treasury upon request.
    Current Action: There is no change to the existing regulation.
    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: Businesses or for-profit institutions, and non-
profit institutions.
    Burden: The estimated number of recordkeepers is 60,900. The 
average burden per recordkeeper is 7.5 hours, for a total estimated 
annual recordkeeping burden of 456,750 hours.
    9. Title: Records to be made and retained by financial institutions 
(31 CFR 103.33 and 103.38).
    OMB Number: 1506-0009.
    Abstract: Each financial institution must retain an original or 
copy of

[[Page 35830]]

records related to extensions of credit in excess of $10,000 (other 
than those secured by real property), and records related to transfers 
of funds, currency, other monetary instruments, checks, investment 
securities, or credit of more than $10,000 to or from the United States 
(31 CFR 103.33(a)-(c)). Banks and non-bank financial institutions must 
also maintain records related to, and include certain information as 
part of, funds transfers or transmittals of funds involving more than 
$3,000 (31 CFR 103.33(e)-(f), and 103.33(g)). The required records must 
be maintained for five years (31 CFR 103.38).
    Current Action: There is no change to the existing regulation.
    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: Businesses or for-profit institutions, and non-
profit institutions.
    Burden:
    31 CFR 103.33(a)-(c). The estimated number of recordkeepers is 
22,900. The estimated annual recordkeeping burden per recordkeeper is 
50 hours, for a total estimated annual recordkeeping burden of 
1,145,000 hours .
    31 CFR 103.33(e)-(f). The estimated number of recordkeepers is 
35,500. The estimated annual recordkeeping burden per recordkeeper is 
16 hours, for a total estimated annual recordkeeping burden of 568,000.
    31 CFR 103.33(g). The estimated number of recordkeepers is 35,500. 
The estimated annual recordkeeping burden per recordkeeper is 12 hours, 
for a total estimated annual recordkeeping burden of 426,000.
    10. Title: Additional records to be made and retained by banks (31 
CFR 103.34 and 103.38).
    OMB Number: 1506-0009.
    Abstract: A bank must make and retain a record of the taxpayer 
identification number (or other identifying information in the case of 
a non-resident alien) of certain customers buying or redeeming a 
certificate of deposit or opening a deposit or share account. A bank 
must maintain a list containing the names, addresses and account 
numbers of those persons from whom it has been unable to obtain the 
taxpayer identification number (and make the list available to the 
Secretary, upon request). A bank must retain an original or copy of 
certain documents, as specified in section 103.34. The required records 
must be maintained for five years (31 CFR 103.38).
    Current Action: There is no change to the existing regulation.
    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: Businesses or for-profit institutions, and non-
profit institutions.
    Burden: The estimated number of recordkeepers is 22,900. The 
estimated annual recordkeeping burden per recordkeeper is 100 hours for 
a total annual recordkeeping burden of 2,290,000 hours.
    11. Title: Additional records to be made and retained by brokers or 
dealers in securities (31 CFR 103.35 and 103.38).
    OMB Number: 1506-0009.
    Abstract: A broker or dealer in securities must make and retain a 
record of the taxpayer identification number (or other identifying 
information in the case of a non-resident alien) of customers 
maintaining an account with the broker or dealer and the social 
security number of each individual having a financial interest in the 
account. A broker or dealer must maintain a list containing the names, 
addresses and account numbers of those persons from whom it has been 
unable to obtain the taxpayer identification number (and make the list 
available to the Secretary, upon request). A broker or dealer in 
securities must retain an original or copy of certain documents, as 
specified in section 103.35. The required records must be maintained 
for five years (31 CFR 103.38).
    Current Action: There is no change to the existing regulation.
    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: Business and other for-profit institutions.
    Burden: The estimated number of recordkeepers is 8,300. The 
estimated annual recordkeeping burden per recordkeeper is 100 hours, 
for a total estimated annual recordkeeping burden of 83,000 hours.
    12. Title: Additional records to be made and retained by casinos 
(31 CFR 103.36 and 103.38).
    OMB Number: 1506-0009.
    Abstract: Casinos (and card clubs) must make and retain a record of 
the name, permanent address, and taxpayer identification number each 
person who deposits funds with the casino, opens an account at the 
casino, or to whom the casino extends a line of credit (and maintain a 
list, available to the Secretary upon request, of the names and 
addresses of persons who do not furnish a taxpayer identification 
number), and must retain the original or a copy of certain documents, 
as specified in section 103.36 (31 CFR 103.36(a)&(b)(1)-(8)). Casinos 
must also maintain a list of transactions with customers involving 
certain instruments (31 CFR 103.36(b)(9)). Card clubs must maintain 
records of currency transactions by customers and records of activity 
at cages (31 CFR 103.36(b)(11)). Casinos that input, store, or retain 
required records on computer disk, tape or other machine readable media 
must maintain the records on such media (31 CFR 103.36(c)). Required 
records must be maintained for five years (31 CFR 103.38).
    Current Action: There is no change to the existing regulation.
    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: Business and other for-profit institutions.
    Burden:
    31 CFR 103.36(a)&(b)(1)-(8). The estimated number of recordkeepers 
is 480. The estimated annual recordkeeping burden per recordkeeper is 
100 hours, for a total estimated annual recordkeeping burden of 48,000.
    31 CFR 103.36(b)(9). The estimated number of recordkeepers is 480. 
The estimated annual recordkeeping burden per recordkeeper is 7.5 
hours, for a total estimated annual recordkeeping burden of 3,600 
hours.
    31 CFR 103.36(b)(11). The estimated number of recordkeepers is 62. 
The estimated number of transactions is 215,000 annually and the total 
estimated annual recordkeeping burden is 686 hours.
    31 CFR 103.36(c). The estimated number of respondents is 480. The 
estimated annual recordkeeping burden per recordkeeper is 4 hours, for 
a total estimated annual recordkeeping burden of 1,920 hours.
    13. Title: Additional records to be made and retained by currency 
dealers or exchangers (31 CFR 103.37 and 103.38).
    OMB Number: 1506-0009.
    Abstract: A currency dealer or exchanger must make and maintain a 
record of the taxpayer identification number of certain persons for 
whom a transaction account is opened or a line of credit is extended, 
and must maintain a list containing the names, addresses, and account 
or credit line numbers of those persons from whom it has been unable to 
secure such information. A currency dealer or exchanger must retain the 
original or a copy of certain documents, as specified in section 
103.37. The required records must be maintained for five years (31 CFR 
103.38).
    Current Action: There is no change to the existing regulation.

[[Page 35831]]

    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: Business and other for-profit institutions.
    Burden: The estimated number of recordkeepers is 2,300. The 
estimated annual recordkeeping burden per recordkeeper is 16 hours, for 
a total estimated annual recordkeeping burden of 368,000 hours.
    14. Title: Nature of records and retention period (31 CFR 103.38).
    OMB Number: 1506-0009.
    Abstract: Records required to be retained by a financial 
institution under 31 CFR part 103 must be retained for 5 years, except 
for records or reports required under 103.26 which shall be retained 
for the period of time specified in the targeting order imposing the 
recordkeeping or reporting requirement to which the particular 
retention period relates.
    Current Action: There is no change to the existing regulation.
    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: Businesses or for-profit institutions, and non-
profit institutions.
    Burden: The burden for this regulation is reflected in the 
reporting and recordkeeping provisions of 31 CFR part 103.
    15. Title: Special rules for casinos (31 CFR 103.64, 103.36(b)(10), 
and 103.38).
    OMB Number: 1506-0009.
    Abstract: This section provides special rules for casinos, 
including the requirement that casinos maintain a written compliance 
program.
    Current Action: There is no change to the existing regulation.
    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: Business and other for-profit institutions.
    Burden: The estimated number of recordkeepers is 480. The estimated 
annual recordkeeping burden per recordkeeper is 100, for a total 
estimated annual recordkeeping burden of 48,000 hours.
    16. Title: Administrative rulings (31 CFR 103.81-87).
    OMB Number: 1506-0009.
    Abstract: These sections address administrative rulings under the 
Bank Secrecy Act. They explain how to submit a ruling request (103.81), 
how nonconforming requests are handled (103.82), how oral 
communications are treated (103.83), how rulings are issued (103.85), 
how rulings are modified or rescinded (103.86), and how information may 
be disclosed (103.87).
    Current Action: There is no change to the existing regulation.
    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: Individuals, businesses or for-profit 
institutions, and non-profit institutions.
    Burden: The estimated number of responses is 60 annually, with a 
burden of 1 hours per submission, for a total annual burden of 60 
hours.
    The following paragraph applies to all the collections of 
information addressed in this notice:
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number. Records required to be 
retained under the Bank Secrecy Act must be retained for five years. 
Generally, information collected pursuant to the Bank Secrecy Act is 
confidential, but may be shared as provided by law with regulatory and 
law enforcement authorities.
    Requests for Comments: Comments submitted in response to this 
notice will be summarized and/or included in the request for OMB 
approval. All comments will become a matter of public record. Comments 
are invited on: (a) Whether the collection of information is necessary 
for the proper performance of the functions of the agency, including 
whether the information shall have practical utility; (b) the accuracy 
of the agency's estimate of the burden of the collection of 
information; (c) ways to enhance the quality, utility, and clarity of 
the information to be collected; (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; and (e) estimates of capital or start-up costs and costs of 
operation, maintenance and purchase of services to provide information.

    Dated: June 24, 2001.
James F. Sloan,
 Director, Financial Crimes Enforcement Network.
[FR Doc. 01-17089 Filed 7-6-01; 8:45 am]
BILLING CODE 4820-03-P