[Federal Register Volume 79, Number 103 (Thursday, May 29, 2014)]
[Notices]
[Pages 30928-30930]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-12502]


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DEPARTMENT OF THE TREASURY

Financial Crimes Enforcement Network


Agency Information Collection Activities; Comment Request; 
Renewal Without Change of Bank Secrecy Act Recordkeeping Requirements

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 of the Bank Secrecy Act (``BSA'') 
recordkeeping requirements addressed in this notice. FinCEN intends to 
submit these requirements for approval by the Office of Management and 
Budget (``OMB'') of a three-year extension of Control Numbers 1506-0050 
through 1506-0059. This request for comments is made pursuant to the 
Paperwork Reduction Act (``PRA'') of 1995, Public Law 104-13, 44 U.S.C. 
3506(c)(2)(A). In addition, FinCEN is seeking comment on 31 CFR 
1010.430, (a provision in FinCEN's regulations which establishes a 
general five-year recordkeeping) the nature of records and retention 
period, and which is not subject to the PRA because there is no 
information collection associated with it.

DATES: Written comments should be received on or before July 28, 2014 
to be assured of consideration.

ADDRESSES: Written comments should be submitted to: Policy Division, 
Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183. 
Attention: PRA Comments--BSA Recordkeeping Requirements, OMB Control 
Numbers 1506-0050 through 1506-0059. 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--BSA Recordkeeping Requirements, OMB Control 
Numbers 1506-0050 through 1506-0059.''
    Instructions. It is preferable for comments to be submitted by 
electronic mail. Please submit comments by one method only. All 
submissions received must include the agency name and the specific OMB 
control number or BSA Recordkeeping Requirements for this notice.
    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 Resource Center at 800-767-
2825.

SUPPLEMENTARY INFORMATION: The BSA, Titles I and II of Public Law 91-
508, as amended, codified at 12 U.S.C. 1829(b), 12 U.S.C. 1951-1959, 
and 31 U.S.C. et seq., authorizes the Secretary of the Treasury, inter 
alia, to issue regulations requiring records and reports that are 
determined to have a high degree of

[[Page 30929]]

usefulness in criminal, tax and regulatory matters. Title III of the 
USA PATRIOT Act of 2001, Public Law 107-56, included certain amendments 
to the anti-money laundering provisions of Title II of the BSA, 31 
U.S.C. 5311 et seq., which are intended to aid in the prevention, 
detection and prosecution of international money laundering and 
terrorist financing. Regulations implementing Title II of the BSA 
appear at 31 CFR Chapter X. The authority of the Secretary of the 
Treasury to administer Title II of the BSA has been delegated to the 
Director of FinCEN. The information collected and retained under the 
regulation addressed in this notice assist Federal, state, and local 
law enforcement as well as regulatory authorities in the 
identification, investigation, and prosecution of money laundering and 
other matters. In accordance with the requirements of the PRA, 44 
U.S.C. 3506(c)(2)(A), and its implementing regulations, the following 
information is presented concerning the recordkeeping requirements 
listed below.
    Title: BSA Recordkeeping Requirements.
    OMB Numbers: 1506-0050 through 1506-0059.
    Abstract: In accordance with 31 CFR 1010.430, covered financial 
institutions are required to maintain records of certain financial 
transactions for a period of five years. Covered financial institutions 
may satisfy these requirements by using their internal records 
management system.
    Current Action: Renewal without change to the existing regulations.
    Type of Review: Extension of currently approved recordkeeping 
requirements.
    Affected Public: Businesses or other for-profit institutions, and 
non-profit institutions.
    1. Title: Administrative Rulings (31 CFR 1010.711-717).
    OMB Number: 1506-0050.
    Current action: This is a renewal without change of a currently 
approved PRA burden.
    Summary of proposed action: FinCEN proposes renewing the PRA burden 
currently included in OMB Control Number 1506-0050. The sections under 
this control number are: (a) How to submit a ruling request (1010.711), 
(b) how non-conforming requests are handled (1010.712), (c) how oral 
communications are treated (1010.713), (d) how rulings are issued 
(1010.715), (e) how rulings are modified or rescinded (1010.716), and 
(f) how information in connection with a ruling may be disclosed 
(1010.717). Effective September 2009, all redacted administrative 
rulings are published on the FinCEN Web site and may be reviewed at 
http://www.fincen.gov/statutes_regs/rulings/.
    Burden: The estimated number of responses (request for a ruling) is 
60 annually, with a burden of 1 hour per submission, for a total annual 
burden of 60 hours.
    Type of Review: Extension without change of a currently approved 
information collection.
    Affected Public: Businesses or other for-profit institutions, and 
non-profit institutions.
    Frequency: N/A.
    2. Title: Special Rules for Casinos (31 CFR 1021.210(b), 31 CFR 
1021.100(a)-(e), and 31 CFR 1010.430).
    OMB Number: 1506-0051.
    Current Action: This is a renewal without change of a currently 
approved PRA burden.
    Type of Review: Extension without change of a currently approved 
information collection.
    Affected Public: Businesses or other for-profit institutions.
    Burden: The estimated number of recordkeepers is 925. The estimated 
annual recordkeeping burden per recordkeeper is 100 hours, for a total 
estimated annual recordkeeping burden of 92,500 hours.
    3. Title: Nature of Records and Retention Period (31 CFR 
1010.430).\1\
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    \1\ This section applies to all the BSA recordkeeping rules; it 
imposes a 5-year record retention period for all BSA recordkeeping 
rules and includes a brief discussion of how to make the records. 
This paragraph is not subject to the PRA because there is no 
information collection associated with it.
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    OMB Number: None Assigned, see footnote 1.
    Current Action: This is a renewal without change of a BSA required 
action.
    Type of Review: Extension without change of a BSA required action.
    Affected Public: Businesses or other for-profit institutions, and 
non-profit institutions.
    Burden: The burden for this regulation is reflected in the 
reporting and recordkeeping provisions of 31 CFR Chapter X.
    4. Title: Additional Records to be made and retained by Currency 
Dealers or Exchangers (31 CFR 1022.410 and 31 CFR 1010.430).
    OMB Number: 1506-0052.
    Current Action: This is a renewal without change of a currently 
approved PRA burden.
    Type of Review: Extension without change of a currently approved 
information collection.
    Affected Public: Businesses or 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.
    5. Title: Additional Records to be made and retained by Brokers or 
Dealers in Securities (31 CFR 1023.410 and 31 CFR 1010.410).
    OMB Number: 1506-0053.
    Current Action: This is a renewal without change of a currently 
approved PRA burden.
    Type of Review: Extension without change of a currently approved 
information collection.
    Affected Public: Businesses or 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 830,000 hours.
    6. Title: Additional Records to be made and retained by Casinos (31 
CFR 1021.410 (except 31 CFR 1021.410(b)(10)) and 31 CFR 1010.430).
    OMB Number: 1506-0054.
    Current Action: This is a renewal without change of a currently 
approved PRA burden.
    Type of Review: Extension without change of a currently approved 
information collection.
    Affected Public: Businesses or other for-profit institutions.
    Burden: Total burden of 102,374 hours.
    The burden for the action will be as follows:
    31 CFR 1021.410(a) & (b)(1)-(8). The estimated number of 
recordkeepers is 912. The estimated annual recordkeeping burden per 
recordkeeper is 100 hours, for a total estimated annual recordkeeping 
burden of 91,200.
    31 CFR 1021.410(b)(9). The estimated number of recordkeepers is 
912. The estimated annual recordkeeping burden per recordkeeper is 7.5 
hours, for a total estimated annual recordkeeping burden of 6,840 
hours.
    31 CFR 1021.410(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 1021.410(c). The estimated number of respondents is 912. The 
estimated annual recordkeeping burden per recordkeeper is 4 hours, for 
a total estimated annual recordkeeping burden of 3,648 hours.

[[Page 30930]]

    7. Title: Reports of Transactions with Foreign Financial Agencies 
(31 CFR 1010.360).\2\
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    \2\ Treasury may, by regulation, require specified financial 
institutions to report transactions by persons with designated 
foreign financial agencies.
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    OMB Number: 1506-0055.
    Current Action: This is a renewal without change of a currently 
approved PRA burden.
    Type of Review: Extension without change of a currently approved 
information collection.
    Affected Public: Businesses or other 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 hour 
per respondent for a total annual burden of 1 hour.\3\
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    \3\ Should FinCEN issue regulations under this authority, it 
will provide a burden estimate specific to those regulations.
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    8. Title: Reports of Certain Domestic Coin and Currency 
Transactions (31 CFR 1010.370 and 31 CFR 1010.410(d)).
    OMB Number: 1506-0056.
    Current Action: This is a renewal without change of a currently 
approved PRA burden.
    Type of Review: Extension without change of a currently approved 
information collection.
    Affected Public: Businesses or other 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. Total estimated burden 6,800 hours.\4\
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    \4\ Although the burden is stated as an annual burden in 
accordance with the PRA, the estimated annual burden is not intended 
to indicate any geographic targeting order that may be in effect 
throughout a year or in each year.
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    9. Title: Purchases of Bank Checks and Drafts, Cashier's Checks, 
Money Orders, and Traveler's Checks (31 CFR 1010.415, and 31 CFR 
1010.430).
    OMB Number: 1506-0057.
    Current Action: This is a renewal without change of a currently 
approved PRA burden.
    Type of Review: Extension without change of a currently approved 
information collection.
    Affected Public: Businesses or other for-profit institutions, and 
non-profit institutions.
    Burden: The estimated number of recordkeepers is 60,900. The 
average burden per record-keeper is 7.5 hours, for a total estimated 
annual recordkeeping burden of 456,750 hours.
    10. Title: Records to be made and retained by Financial 
Institutions (31 CFR 1010.410 (except 1010.410(d)) and 31 CFR 
1010.430).
    OMB Number: 1506-0058.
    Current Action: This is a renewal without change of a currently 
approved PRA burden.
    Type of Review: Extension without change of a currently approved 
information collection.
    Affected Public: Businesses or other for-profit institutions, and 
non-profit institutions.
    Burden: Total of 2,139,000 hours.
    The burden for this action will be as follows:
    31 CFR 1010.410(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 1010.410(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 1010.410(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.
    11. Title: Additional Records to be made and retained by Banks (31 
CFR 1020.410 and 31 CFR 1010.430).
    OMB Number: 1506-0059.
    Current Action: This is a renewal without change of a currently 
approved PRA burden.
    Type of Review: Extension without change of a currently approved 
information collection.
    Affected Public: Businesses or other 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.
    The following paragraph applies to the recordkeeping requirements 
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 BSA must be retained 
for five years. Generally, information collected pursuant to the BSA is 
confidential, but may be shared as provided by law with regulatory and 
law enforcement authorities.
    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: May 22, 2014.
Jennifer Shasky Calvery,
Director, Financial Crimes Enforcement Network.
[FR Doc. 2014-12502 Filed 5-28-14; 8:45 am]
BILLING CODE 4810-02-P