[Federal Register Volume 74, Number 190 (Friday, October 2, 2009)]
[Notices]
[Pages 50999-51000]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-23750]


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DEPARTMENT OF THE TREASURY

Financial Crimes Enforcement Network


Proposed Collection; Comment Request; Currency Transaction Report

AGENCY: Financial Crimes Enforcement Network, Treasury.

ACTION: Notice and request for comments.

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SUMMARY: As part of its continuing effort to reduce paperwork and 
respondent burden, the Financial Crimes

[[Page 51000]]

Enforcement Network (FinCEN) invites comment on the proposed renewal 
without change of the Currency Transaction Report (CTR), FinCEN Form 
104. This request for comment 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 
December 1, 2009.

ADDRESSES: Written comments should be submitted to: Regulatory Policy 
and Programs Division, Financial Crimes Enforcement Network, Department 
of the Treasury, P.O. Box 39, Vienna, Virginia 22183, Attention: PRA 
Comments--CTR-Currency Transaction Report, FinCEN Form 104. 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-Currency Transaction Report, 
FinCEN Form 104.''
    Inspection of comments. Comments received may be inspected, between 
10 a.m. and 4 p.m., in the FinCEN reading room in Vienna, VA. Persons 
wishing to inspect the comments submitted must request an appointment 
with the Disclosure Officer by telephoning (703) 905-5034 (not a toll 
free call).

FOR FURTHER INFORMATION CONTACT: The FinCEN Regulatory Helpline at 
(800) 949-2732, select option 3.

SUPPLEMENTARY INFORMATION:
    Title: Currency Transaction Report (CTR), 31 CFR 103.22(b).
    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 (Secretary), 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 been delegated to 
the Director of FinCEN.
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    \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, Public 
Law 107-56.
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    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 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 U.S.C. 5312(a)(2) and 31 
CFR 103.11, are subject to the currency transaction reporting 
requirement. The Currency Transaction Report, FinCEN Form 104, is the 
form that financial institutions use to comply with the currency 
transaction reporting requirements.
    Current action: This is a renewal 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: Renewal 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 ten (10) minutes per response, for a 
total of 30 minutes.
    Estimated number of respondents = 54,000.
    Estimated Total Annual Responses = 13,710,000.
    Estimated Total Annual Burden Hours: 6,855,000.
    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: September 28, 2009.
James H. Freis, Jr.,
Director, Financial Crimes Enforcement Network.
[FR Doc. E9-23750 Filed 10-1-09; 8:45 am]
BILLING CODE 4810-02-P