[Federal Register Volume 82, Number 227 (Tuesday, November 28, 2017)]
[Notices]
[Pages 56325-56327]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-25574]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Multiple FinCEN Information Collection 
Requests

AGENCY: Departmental Offices, U.S. Department of the Treasury.

ACTION: Notice.

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SUMMARY: The Department of the Treasury will submit the following 
information collection requests to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, on or after the date of publication of this 
notice. The public is invited to submit comments on these requests.

DATES: Comments should be received on or before December 28, 2017 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimate, or any other 
aspect of the information collection, including suggestions for 
reducing the burden, to (1) Office of Information and Regulatory 
Affairs, Office of Management and Budget, Attention: Desk Officer for 
Treasury, New Executive Office Building, Room 10235, Washington, DC 
20503, or email at [email protected] and (2) Treasury PRA 
Clearance Officer, 1750 Pennsylvania Ave. NW., Suite 8142, Washington, 
DC 20220, or email at [email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained from Jennifer Leonard by emailing [email protected], calling 
(202) 622-0489, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION: 

Financial Crimes Enforcement Network (FinCEN)

    Title: FinCEN Suspicious Activity Report (SAR).
    OMB Control Number: 1506-0065.
    Type of Review: Revision of a currently approved collection.
    Abstract: FinCEN and the bank regulators adopted the suspicious 
activity report (``SAR'') in 1996 to simplify the process through which 
depository institutions (``banks'') inform their regulators and law 
enforcement about suspected criminal activity, pursuant to the Bank 
Secrecy Act (31 U.S.C. 5318(g)). The SAR is also filed by money 
services businesses, broker dealers in securities, casinos, certain 
futures commission merchants, life insurance companies, mutual funds, 
non-bank residential mortgage lenders and originators, and Government 
Sponsored Enterprises's (GSE's). All reporting financial institutions 
are required to retain a copy of any SAR filed and supporting 
documentation for the filing of the SAR for five years. These documents 
are necessary for criminal investigations and prosecutions. The filing 
of a SAR is necessary to prevent and detect the laundering of money and 
other funds at the filing institutions.
    Form: FinCEN 111.

[[Page 56326]]

    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 4,038,044.

    Title: Additional Records to be Made and Retained by Banks.
    OMB Control Number: 1506-0059.
    Type of Review: Extension without change of a currently approved 
collection.
    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 
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. 
A bank must retain an original or copy of certain documents, as 
specified in section 1020.410. The required records must be maintained 
for five years (31 CFR 1010.430).
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 2,290,000.

    Title: Designation of Exempt Person.
    OMB Control Number: 1506-0012.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: The Designation of Exempt Person report (DOEP) FinCEN 
Report 110 is filed by banks to exempt certain businesses from the 
requirement to report transactions in currency.
    Form: FinCEN 110.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 27,040.

    Title: Report of Cash Payment over $10,000 Received in a Trade or 
Business.
    OMB Control Number: 1506-0018.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: Anyone in a trade or business who, in the course of such 
trade or business, receives more than $10,000 in cash or foreign 
currency in one or more related transactions must report it to FinCEN 
and provide a statement to the payer. Any transaction which must be 
reported under Title 31 on FinCEN Form 112 (BCTR) is exempted from 
reporting the same transaction on Form 8300. The USA Patriot Act of 
2001 (Pub. L. 107-56) authorized the Financial Crimes Enforcement 
Network to collect the information reported on Form 8300.
    Form: FinCEN 8300.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 164,952.

    Title: Administrative Rulings.
    OMB Control Number: 1506-0050.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: Under the Bank Secrecy Act, financial institutions may 
request administrative rulings from FinCEN. Administrative ruling 
requests are sent to FinCEN either by the U.S. Mail or electronically 
for consideration and determination.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 120.

    Title: Special Rules for Casinos.
    OMB Control Number: 1506-0051.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: This section provides special rules for casinos, 
including the requirement that casinos maintain a written anti money 
laundering compliance program.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 92,500.

    Title: Additional Records to be Made and Retained by Currency 
Dealers or Exchangers.
    OMB Control Number: 1506-0052.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: A currency dealer or exchanger must make and maintain a 
record of the taxpayer identification number of certain persons for 
whom a transaction account is opened or a line of credit is extended, 
and must maintain a list containing the names, addresses, and account 
or credit line numbers of those persons from whom it has been unable to 
secure such information. A currency dealer or exchanger must retain the 
original or a copy of certain documents, as specified in 31 CFR 
1022.410. The required records must be maintained for five years.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 36,800.

    Title: Additional Records to be Made and Retained by Brokers or 
Dealers in Securities.
    OMB Control Number: 1506-0053.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: A broker or dealer in securities must retain an original 
or copy of certain documents, as specified in section 1023.410. The 
required records must be maintained for five years (31 CFR 1010.430).
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 830,000.

    Title: Additional Records to be Made and Retained by Casinos.
    OMB Control Number: 1506-0054.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: Casinos (and card clubs) must make and retain a record of 
the name, permanent address, and taxpayer identification number for 
each person who deposits funds with the casino, opens an account at the 
casino, or to whom the casino extends a line of credit (and maintain a 
list, available to the Secretary upon request, of the names and 
addresses of persons who do not furnish a taxpayer identification 
number), and must retain the original or a copy of certain documents, 
as specified in section 1021.410(a)&(b)(1)-(8). Casinos must also 
maintain a list of transactions with customers involving certain 
instruments (31 CFR 1021.410(b)(9)). Card clubs must maintain records 
of currency transactions by customers and records of activity at cages 
(31 CFR 1021.410(b)(11)). Casinos that input, store, or retain required 
records on computer disk, tape or other machine-readable media must 
maintain the records on such media (31 CFR 1021.410(c)). Required 
records must be maintained for five years (31 CFR 1010.430).
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 121,056.

    Title: Reports of Transactions with Foreign Financial Agencies.
    OMB Control Number: 1506-0055.
    Type of Review: Revision of a currently approved collection.
    Abstract: Treasury may, by regulation, require specified financial 
institutions to report transactions by persons with designated foreign 
financial agencies.
    Form: None.

[[Page 56327]]

    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 1,000.

    Title: Reports of Certain Domestic Coin and Currency Transactions.
    OMB Control Number: 1506-0056.
    Type of Review: Revision of a currently approved collection.
    Abstract: Upon a finding that additional reporting or recordkeeping 
is necessary to carry out the purposes, or prevent the evasion, of the 
Bank Secrecy Act, Treasury may issue an order requiring financial 
institutions or groups of financial institutions in certain geographic 
locations to report certain transactions in prescribed amounts for a 
limited period of time (31 CFR 1010.360). Financial institutions 
subject to a geographic targeting order must maintain records for such 
period of time as the order requires but not more than 5 years (31 CFR 
1010.410(d)). Although the burden is stated as an annual burden in 
accordance with the Paperwork Reduction Act, the estimated annual 
burden is not intended to indicate that there is a geographic targeting 
order in effect throughout a year or in each year.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 8,000.

    Title: Purchases of Bank Checks and Drafts, Cashier's Checks, Money 
Orders and Traveler's Checks.
    OMB Control Number: 1506-0057.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: Financial institutions must maintain records of certain 
information related to the sale of bank checks and drafts, cashiers 
checks, money orders, or traveler's checks when the sale involves 
currency between $3,000-$10,000. The records must be maintained for a 
period of five years and be made available to Treasury upon request.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 456,750.

    Title: Records to be Made and Retained by Financial Institutions.
    OMB Control Number: 1506-0058.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: Each financial institution must retain an original or 
copy of records related to extensions of credit in excess of $10,000 
(other than those secured by real property), and records related to 
transfers of funds, currency, other monetary instruments, checks, 
investment securities, or credit of more than $10,000 to or from the 
United States (31 CFR 1010.410(a)-(d)). Banks and non-bank financial 
institutions must also maintain records related to, and include certain 
information as part of, funds transfers or transmittals of funds 
involving more than $3,000 (31 CFR 1010.410(e)-(f)-(g)). The required 
records must be maintained for five years (31 CFR 1010.430).
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 2,150,200.

    Authority:  44 U.S.C. 3501 et seq.

    Dated: November 21, 2017.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2017-25574 Filed 11-27-17; 8:45 am]
 BILLING CODE 4810-02-P