[Federal Register Volume 79, Number 52 (Tuesday, March 18, 2014)]
[Notices]
[Pages 15204-15205]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-05965]


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DEPARTMENT OF THE TREASURY

Financial Crimes Enforcement Network


Renewal Without Change to the Bank Secrecy Act Designation of 
Exempt Person Report; Proposed Collection; Comment Request

AGENCY: Financial Crimes Enforcement Network (``FinCEN''), U.S. 
Department of the Treasury.

ACTION: Notice and request for comments.

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SUMMARY: FinCEN, a bureau of the U.S. Department of the Treasury 
(``Treasury''), invites all interested parties to comment on its 
proposed renewal without change to the collection of information 
through its ``Designation of Exempt Person'' (``DoEP'') report used by 
banks and other depository institutions to designate eligible customers 
as exempt from the requirement to report transactions in currency over 
$10,000. This request for comments is being made pursuant to the 
Paperwork Reduction Act (``PRA'') 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 
May 19, 2014.

ADDRESSES: Written comments should be submitted to: Policy Division, 
Financial Crimes Enforcement Network, Department of the Treasury, P.O. 
Box 39, Vienna, Virginia 22183, Attention: PRA Comments--BSA-DoEP 
Renewal. DoEP 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: BSA-DoEP Renewal.''
    Inspection of comments: Comments 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 8.

SUPPLEMENTARY INFORMATION: 

[[Page 15205]]

    Title: BSA Designation of Exempt Persons (DoEP) Report by 
Depository Financial Institutions, (See 31 CFR 1020.315(a)-(i)).
    Office of Management and Budget (``OMB'') Control Number: 1506-
0012.
    Form Number: FinCEN Form 110.
    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, among other things, 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 
matters, 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 Chapter X. 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 Act of 2001, P.L. 107-56.
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    The Secretary of the Treasury was granted authority in 1992, with 
the enactment of 31 U.S.C. 5313, to permit financial institutions to 
exempt certain persons from the requirement to file currency 
transaction reports.
    The information collected on the DoEP is required to be provided 
pursuant to 31 U.S.C. 5313, as implemented by FinCEN regulations found 
at 31 CFR 1020.315(a)-(i). The information collected under this 
requirement is made available to appropriate agencies and organizations 
as disclosed in FinCEN's Privacy Act System of Records Notice relating 
to BSA Reports.\2\
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    \2\ Treasury Department bureaus such as FinCEN renew their 
System of Records Notices every three years unless there is cause to 
amend them more frequently. FinCEN's System of Records Notice for 
the BSA Report System was most recently published at 77 FR 60014, 
October 1, 2012.
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    Current Action: A renewal without change to the current DOEP, 
FinCEN Form 110.
    The report is accessible on the FinCEN Web site at: http://www.fincen.gov/forms/bsa_forms/
    Type of Review: Renewal without change of a currently approved 
collection.
    Affected Public: Businesses or other for-profit and not-for-profit 
financial institutions.
    Frequency: As required.
    Estimated Reporting Burden: Average of 60 minutes per report and 15 
minutes recordkeeping per filing. (The reporting burden of the 
regulations 31 CFR 1020.315(a)-(i) is reflected in the burden for the 
report.)
    Estimated Recordkeeping and Reporting Burden for 31 CFR 
1020.315(a)-(i): 75 minutes.
    Estimated Number of Respondents: 13,520.\3\
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    \3\ As of January 31, 2014, there are 6,900 banks, and savings 
and loans, and 6,620 credit unions.
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    Estimated Total Annual Responses: 25,160.\4\
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    \4\ Number of responses is based on actual 2013 filings as 
reported to the FinCEN System of Record.
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    Estimated Total Annual Reporting and Recordkeeping Burden: 31,450 
hours.
    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.
    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: March 12, 2014.
Frederick Reynolds,
Deputy Director, Financial Crimes Enforcement Network.
[FR Doc. 2014-05965 Filed 3-17-14; 8:45 am]
BILLING CODE 4810-02-P