[Federal Register Volume 68, Number 25 (Thursday, February 6, 2003)]
[Notices]
[Pages 6258-6259]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-2351]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Financial Crimes Enforcement Network; Proposed Collection; 
Comment Request for Form 8300

AGENCY: Internal Revenue Service (IRS) and Financial Crimes Enforcement 
Network (FinCEN), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to take this opportunity to comment 
on proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS and the FinCEN are soliciting 
comments concerning Form 8300, Report of Cash Payments Over $10,000 
Received in a Trade or Business.

[[Page 6259]]


DATES: Written comments should be received on or before April 7, 2003 
to be assured of consideration.

ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal 
Revenue Service, Room 6411, 1111 Constitution Avenue, NW., Washington, 
DC 20224; and/or Office of Chief Counsel, Financial Crimes Enforcement 
Network, Department of the Treasury, PO Box 39, Vienna, Virginia 22183. 
Attention: PRA Comments--Form 8300. 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--Form 8300.''

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form and instructions should be directed to Carol Savage, 
(202) 622-3945, [email protected], or Internal Revenue Service, 
room 6407, 1111 Constitution Avenue, NW., Washington, DC 20224; Russell 
Stephenson, Senior Compliance Administration Specialist, FinCEN, (800) 
949-2732, or Laurence Levine, Attorney-Advisor, FinCEN, (703) 905-3590. 
A copy of the form may be obtained through the Internet at www.irs.gov.

SUPPLEMENTARY INFORMATION:
    Title: Report of Cash Payments Over $10,000 Received in a Trade or 
Business.
    OMB Numbers: 1545-0892 (IRS) and 1506-0018 (FinCEN).
    Form Number: 8300.
    Abstract: Internal Revenue Code section 6050I requires any person 
in a trade or business who, in the course of the trade or business, 
receives more than $10,000 in cash or foreign currency in one or more 
related transactions to report it to the IRS and provide a statement to 
the payer. Form 8300 is used for this purpose.
    Section 365 of the USA Patriot Act of 2001 (Pub. L. 107-56), adding 
new section 5331 to title 31 of the United States Code, authorized the 
Financial Crimes Enforcement Network to collect the information 
reported on Form 8300. In a joint effort to develop a dual use form, 
IRS and FinCEN worked together to ensure that the transmission of the 
data collected to FinCEN on Forms 8300 does not violate the provisions 
of section 6103. FinCEN makes the Forms 8300 available to law 
enforcement through its Bank Secrecy Act information sharing 
agreements.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, farms, 
and the Federal government.
    Estimated Number of Respondents: 46,800.
    Estimated Time Per Respondent: 1hr., 22 min.
    Estimated Total Annual Burden Hours: 63,539.\1\
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    \1\ The burden for the information collection in 31 CFR 103.30 
(also approved under control number 1506-0018) relating to the Form 
8300, is reflected in the burden of the form.
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    The following paragraph applies to all of the collections of 
information covered by 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. Books or records 
relating to a collection of information must be retained as long as 
their contents may become material in the administration of any 
internal revenue law. Generally, tax returns and tax return information 
are confidential, as required by 26 U.S.C. 6103.
    Request 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.

    Approved: January 15, 2003.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
William F. Baity,
Deputy Director Administration, Financial Crimes Enforcement Network.
[FR Doc. 03-2351 Filed 2-5-03; 8:45 am]
BILLING CODE 4830-01-P