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31 U.S.C. § 5331 — Reports relating to coins and currency received in nonfinancial trade or business
Federal law — U.S. Code and appendices · legal_authorities
**(a) Coin and Currency Receipts of More Than $10,000.—** Any person—
(1)
(A) who is engaged in a trade or business, and
(B) who, in the course of such trade or business, receives more than $10,000 in coins or currency in 1 transaction (or 2 or more related transactions), or
(2) who is required to file a report under section 6050I(g) of the Internal Revenue Code of 1986,
shall file a report described in subsection (b) with respect to such transaction (or related transactions) with the Financial Crimes Enforcement Network at such time and in such manner as the Secretary may, by regulation, prescribe.
**(b) Form and Manner of Reports.—** A report is described in this subsection if such report—
(1) is in such form as the Secretary may prescribe;
(2) contains—
(A) the name and address, and such other identification information as the Secretary may require, of the person from whom the coins or currency was received;
(B) the amount of coins or currency received;
(C) the date and nature of the transaction; and
(D) such other information, including the identification of the person filing the report, as the Secretary may prescribe.
**(c) Exceptions.—**
(1) **Amounts received by financial institutions.—** — Subsection (a) shall not apply to amounts received in a transaction reported under section 5313 and regulations prescribed under such section.
(2) **Transactions occurring outside the united states.—** — Except to the extent provided in regulations prescribed by the Secretary, subsection (a) shall not apply to any transaction if the entire transaction occurs outside the United States.
**(d) Currency Includes Foreign Currency and Certain Monetary Instruments.—**
(1) **In general.—** — For purposes of this section, the term “currency” includes—
(A)
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Source location: Title 31, Chapter 53, § 5331; chapter-053-monetary-transactions.md
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**(a) Coin and Currency Receipts of More Than $10,000.—** Any person—
(1)
(A) who is engaged in a trade or business, and
(B) who, in the course of such trade or business, receives more than $10,000 in coins or currency in 1 transaction (or 2 or more related transactions), or
(2) who is required to file a report under section 6050I(g) of the Internal Revenue Code of 1986,
shall file a report described in subsection (b) with respect to such transaction (or related transactions) with the Financial Crimes Enforcement Network at such time and in such manner as the Secretary may, by regulation, prescribe.
**(b) Form and Manner of Reports.—** A report is described in this subsection if such report—
(1) is in such form as the Secretary may prescribe;
(2) contains—
(A) the name and address, and such other identification information as the Secretary may require, of the person from whom the coins or currency was received;
(B) the amount of coins or currency received;
(C) the date and nature of the transaction; and
(D) such other information, including the identification of the person filing the report, as the Secretary may prescribe.
**(c) Exceptions.—**
(1) **Amounts received by financial institutions.—** — Subsection (a) shall not apply to amounts received in a transaction reported under section 5313 and regulations prescribed under such section.
(2) **Transactions occurring outside the united states.—** — Except to the extent provided in regulations prescribed by the Secretary, subsection (a) shall not apply to any transaction if the entire transaction occurs outside the United States.
**(d) Currency Includes Foreign Currency and Certain Monetary Instruments.—**
(1) **In general.—** — For purposes of this section, the term “currency” includes—
(A) foreign currency; and
(B) to the extent provided in regulations prescribed by the Secretary, any monetary instrument (whether or not in bearer form) with a face amount of not more than $10,000.
(2) **Scope of application.—** — Paragraph (1)(B) shall not apply to any check drawn on the account of the writer in a financial institution referred to in subparagraph (A), (B), (C), (D), (E), (F), (G), (J), (K), (R), or (S) of section 5312(a)(2).
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Cash receipts of more than $10,000** Any person—
(1) who is engaged in a trade or business, and
(2) who, in the course of such trade or business, receives more than $10,000 in cash in 1 transaction (or 2 or more related transactions),
shall make the return described in subsection (b) with respect to such transaction (or related transactions) at such time as the Secretary may by regulations prescribe.
**(b) Form and manner of returns** A return is described in this subsection if such return—
(1) is in such form as the Secretary may prescribe,
(2) contains—
(A) the name, address, and TIN of the person from whom the cash was received,
(B) the amount of cash received,
(C) the date and nature of the transaction, and
(D) such other information as the Secretary may prescribe.
**(c) Exceptions**
(1) **Cash received by financial institutions** — Subsection (a) shall not apply to—
(A) cash received in a transaction reported under title 31, United States Code, if the Secretary determines that reporting under this section would duplicate the reporting to the Treasury under title 31, United States Code, or
(B) cash received by any financial institution (as defined in subparagraphs (A), (B), (C), (D), (E), (F), (G), (J), (K), (R), and (S) of [section 5312(a)(2) of title 31](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section5312/a/2&num=0&edition=prelim), United States Code).
(2) **Transactions occurring outside the United States** — Except to the extent provided in regulations prescribed by the Secretary, subsection (a) shall not apply to any transaction if the entire transaction occurs outside the United States.
**(d) Cash includes foreign currency and certain monetary instruments** For purposes of this section, the term “ca
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Federal law — U.S. Code and appendices · legal_authorities
Page 484
TITLE 31—MONEY AND FINANCE
§ 5331
as a business in an informal money transfer
system or any network of people who engage
as a business in facilitating the transfer of
money domestically or internationally out-
side of the conventional financial institu-
tions system;
(B) is required to file reports under section
5313; and
(C) is not a depository institution (as de-
fined in section 5313(g)).
(2) MONEY TRANSMITTING SERVICE.—The term
‘‘money transmitting service’’ includes ac-
cepting currency, funds, or value that sub-
stitutes for currency and transmitting the
currency, funds, or value that substitutes for
currency by any means, including through a
financial agency or institution, a Federal re-
serve bank or other facility of the Board of
Governors of the Federal Reserve System, or
an electronic funds transfer network.
(e) CIVIL PENALTY
FOR FAILURE TO COMPLY
WITH REGISTRATION REQUIREMENTS.—
(1) IN
GENERAL.—Any person who fails to
comply with any requirement of this section
or any regulation prescribed under this sec-
tion shall be liable to the United States for a
civil penalty of $5,000 for each such violation.
(2) CONTINUING VIOLATION.—Each day a viola-
tion described in paragraph (1) continues shall
constitute a separate violation for purposes of
such paragraph.
(3)
ASSESSMENTS.—Any
penalty
imposed
under this subsection shall be assessed and
collected by the Secretary of the Treasury in
the manner provided in section 5321 and any
such assessment shall be subject to the provi-
sions of such section.
(Added Pub. L. 103–325, title IV, § 408(b), Sept. 23,
1994, 108 Stat. 2250; amended Pub. L. 107–56, title
III, § 359(b), Oct. 26, 2001, 115 Stat. 328; Pub. L.
116–283, div. F, title LXI, § 6102(d)(2), Jan. 1, 2021,
134 Stat. 4553.)
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