[Federal Register Volume 71, Number 144 (Thursday, July 27, 2006)]
[Notices]
[Pages 42719-42720]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-12045]


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

DEPARTMENT OF THE TREASURY


Financial Crimes Enforcement Network; Proposed Collection; 
Comment Request; Currency Transaction Report

AGENCY: Financial Crimes Enforcement Network, Department of the 
Treasury.

ACTION: Notice and request for comments.

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

SUMMARY: As part of its continuing effort to reduce paperwork and 
respondent burden, the Financial Crimes Enforcement Network (FinCEN) 
invites comment on the proposed extension, without change, of the 
Currency Transaction Report (CTR), FinCEN Form 104. This request for 
comments is being made pursuant to the Paperwork Reduction Act of 1995, 
Public Law 104-13, 44 U.S.C. 3506(c)(2)(A).

DATES: Written comments are welcome and must be received on or before 
September 25, 2006.

ADDRESSES: Written comments should be submitted to: Office of Chief 
Counsel, Financial Crimes Enforcement Network, Department of the 
Treasury, P.O. Box 39, Vienna, VA 22183, Attention: PRA Comments--CTR 
Form. Comments also may be submitted by electronic mail to the 
following Internet address: [email protected], again with a 
caption, in the body of the text, ``Attention: PRA Comments--CTR 
Form.''
    Inspection of comments. Comments may be inspected, between 10 a.m. 
and 4 p.m., in the FinCEN reading room in Washington, DC. Persons 
wishing to inspect the comments submitted must request an appointment 
by telephoning (202) 354-6400 (not a toll-free number).

FOR FURTHER INFORMATION CONTACT: Financial Crimes Enforcement Network, 
Regulatory Policy and Programs Division, at (800) 949-2732.

SUPPLEMENTARY INFORMATION:
    Title: Currency Transaction Report (CTR).
    OMB Number: 1506-0004.
    Form Number: FinCEN Form 104.
    Abstract: The statute generally referred to as 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. 5311-5332, authorizes 
the Secretary of the Treasury, inter alia, to require financial 
institutions to keep records and file reports that are determined to 
have a high degree of usefulness in criminal, tax, and regulatory 
investigations or proceedings, or in the conduct of intelligence or 
counter-intelligence activities, to protect against international 
terrorism, and to implement counter-money laundering programs and 
compliance procedures.\1\ Regulations implementing Title II of the Bank 
Secrecy Act appear at 31 CFR Part 103. The authority of the Secretary 
to administer the Bank Secrecy Act has

[[Page 42720]]

been delegated to the Director of FinCEN.
---------------------------------------------------------------------------

    \1\ Language expanding the scope of the Bank Secrecy Act to 
intelligence or counter-intelligence activities to protect against 
international terrorism was added by Section 358 of the Uniting and 
Strengthening America by Providing Appropriate Tools Required to 
Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001, Pub. L. 
107-56.
---------------------------------------------------------------------------

    Section 5313(a) of the Bank Secrecy Act authorizes the Secretary to 
issue regulations that require a report when ``a domestic financial 
institution is involved in a transaction for the payment, receipt, or 
transfer of United States coins or currency (or other monetary 
instruments the Secretary of the Treasury prescribes), in an amount, 
denomination, or amount and denomination, or under circumstances the 
Secretary prescribes.'' Regulations implementing section 5313(a) are 
found at 31 CFR 103.22. In general, the regulations require the 
reporting of transactions in currency to, by, or through a financial 
institution in excess of $10,000 by or on behalf of any one person in 
any one business day. Financial institutions, as defined in 31 CFR 
103.11(n), are subject to the currency transaction reporting 
requirement. The Currency Transaction Report, FinCEN Form 104, is the 
form that financial institutions (other than casinos) use to comply 
with the currency transaction reporting requirements.
    Action: This is an extension, without change, of a currently 
approved collection. A copy of the Currency Transaction Report, FinCEN 
Form 104, may be obtained from the FinCEN Web site at http://www.fincen.gov/forms/fin104_ctr.pdf, or by calling (800) 949-2732 and 
selecting option 5.
    Type of Review: Regular review of a currently approved information 
collection.
    Affected Public: Business or other for-profit and non-profit 
institutions.
    Frequency: As required.
    Estimated Burden: Reporting average of 20 minutes per response. 
Form recordkeeping average of five (5) minutes per response, for a 
total of 25 minutes.
    Estimated number of respondents: 54,524.
    Estimated Total Annual Responses: 15,090,000.
    Estimated Total Annual Burden Hours: 6,287,500.
    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 pursuant to the Bank Secrecy Act must be retained for five 
years.
    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.

    Dated: July 20, 2006.
Robert W. Werner,
Director, Financial Crimes Enforcement Network.
[FR Doc. E6-12045 Filed 7-26-06; 8:45 am]
BILLING CODE 4810-02-P