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31 U.S.C. § 5313 — Reports on domestic coins and currency transactions

Federal law — U.S. Code and appendices · legal_authorities

31 U.S.C. § 5313 — Reports on domestic coins and currency transactions

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Source location: Title 31, Chapter 53, § 5313; chapter-053-monetary-transactions.md

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**(a)** 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 of the Treasury prescribes), in an amount, denomination, or amount and denomination, or under circumstances the Secretary prescribes by regulation, the institution and any other participant in the transaction the Secretary may prescribe shall file a report on the transaction at the time and in the way the Secretary prescribes. A participant acting for another person shall make the report as the agent or bailee of the person and identify the person for whom the transaction is being made. **(b)** The Secretary may designate a domestic financial institution as an agent of the United States Government to receive a report under this section. However, the Secretary may designate a domestic financial institution that is not insured, chartered, examined, or registered as a domestic financial institution only if the institution consents. The Secretary may suspend or revoke a designation for a violation of this subchapter or a regulation under this subchapter (except a violation of [section 5315 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section5315&num=0&edition=prelim) or a regulation prescribed under section 5315), section 411 11 See References in Text note below. of the National Housing Act ([12 U.S.C. 1730d](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1730d&num=0&edition=prelim)), or section 21 of the Federal Deposit Insurance Act ([12 U.S.C. 1829b](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1829b&num=0&edition=prelim)). **(c)** (1) A person (except a domestic financial institution designated under subsection (b) of this section) required to file a report under this section shall file the report— (A) with the institution involved in the transaction if the institution was designated; (B) in the way the Secretary prescribes when the institution was not designated; or (C) with the Secretary. (2) The Secretary shall prescribe— (A) the filing procedure for a domestic financial institution designated under subsection (b) of this section; and (B) the way the institution shall submit reports filed with it. **(d) Mandatory Exemptions From Reporting Requirements.—** (1) **In general.—** — The Secretary of the Treasury shall exempt, pursuant to section 5318(a)(6), a depository institution from the reporting requirements of subsection (a) with respect to transactions between the depository institution and the following categories of entities: (A) Another depository institution. (B) A department or agency of the United States, any State, or any political subdivision of any State. (C) Any entity established under the laws of the United States, any State, or any political subdivision of any State, or under an interstate compact between 2 or more States, which exercises governmental authority on behalf of the United States or any such State or political subdivision. (D) Any business or category of business the reports on which have little or no value for law enforcement purposes. (2) **Notice of exemption.—** — The Secretary of the Treasury shall publish in the Federal Register at such times as the Secretary determines to be appropriate (but not less frequently than once each year) a list of all the entities whose transactions with a depository institution are exempt under this subsection from the reporting requirements of subsection (a). **(e) Discretionary Exemptions From Reporting Requirements.—** (1) **In general.—** — The Secretary of the Treasury may exempt, pursuant to section 5318(a)(6), a depository institution from the reporting requirements of subsection (a) with respect to transactions between the depository institution and a qualified business customer of the institution on the basis of information submitted to the Secretary by the institution in accordance with procedures which the Secretary shall establish. (2) **Qualified business customer defined.—** — For purposes of this subsection, the term “qualified business customer” means a business which— (A) maintains a transaction account (as defined in section 19(b)(1)(C) of the Federal Reserve Act) at the depository institution; (B) frequently engages in transactions with the depository institution which are subject to the reporting requirements of subsection (a); and (C) meets criteria which the Secretary determines are sufficient to ensure that the purposes of this subchapter are carried out without requiring a report with respect to such transactions. (3) **Criteria for exemption.—** — The Secretary of the Treasury shall establish, by regulation, the criteria for granting and maintaining an exemption under paragraph (1). (4) **Guidelines.—** (A) *In general.—* — The Secretary of the Treasury shall establish guidelines for depository institutions to follow in selecting customers for an exemption under this subsection. (B) *Contents.—* — The guidelines may include a description of the types of businesses or an itemization of specific businesses for which no exemption will be granted under this subsection to any depository institution. (5) **Annual review.—** — The Secretary of the Treasury shall prescribe regulations requiring each depository institution to— (A) review, at least once each year, the qualified business customers of such institution with respect to whom an exemption has been granted under this subsection; and (B) upon the completion of such review, resubmit information about such customers, with such modifications as the institution determines to be appropriate, to the Secretary for the Secretary’s approval. (6) **2-year phase-in provision.—** — During the 2-year period beginning on the date of enactment of the Money Laundering Suppression Act of 1994, this subsection shall be applied by the Secretary on the basis of such criteria as the Secretary determines to be appropriate to achieve an orderly implementation of the requirements of this subsection. **(f) Provisions Applicable to Mandatory and Discretionary Exemptions.—** (1) **Limitation on liability of depository institutions.—** — No depository institution shall be subject to any penalty which may be imposed under this subchapter for the failure of the institution to file a report with respect to a transaction with a customer for whom an exemption has been granted under subsection (d) or (e) unless the institution— (A) knowingly files false or incomplete information to the Secretary with respect to the transaction or the customer engaging in the transaction; or (B) has reason to believe at the time the exemption is granted or the transaction is entered into that the customer or the transaction does not meet the criteria established for granting such exemption. (2) **Coordination with other provisions.—** — Any exemption granted by the Secretary of the Treasury under section 5318(a) in accordance with this section, and any transaction which is subject to such exemption, shall be subject to any other provision of law applicable to such exemption, including— (A) the authority of the Secretary, under section 5318(a)(6), to revoke such exemption at any time; and (B) any requirement to report, or any authority to require a report on, any possible violation of any law or regulation or any suspected criminal activity. **(g) Depository Institution Defined.—** For purposes of this section, the term “depository institution”— (1) has the meaning given to such term in section 19(b)(1)(A) of the Federal Reserve Act; and (2) includes— (A) any branch, agency, or commercial lending company (as such terms are defined in section 1(b) of the International Banking Act of 1978); (B) any corporation chartered under section 25A of the Federal Reserve Act; and (C) any corporation having an agreement or undertaking with the Board of Governors of the Federal Reserve System under section 25 of the Federal Reserve Act.

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Federal law — U.S. Code and appendices · legal_authorities

31 U.S.C. § 5311 — Declaration of purpose

It is the purpose of this subchapter (except section 5315) to— (1) require certain reports or records that are highly useful in— (A) criminal, tax, or regulatory investigations, risk assessments, or proceedings; or (B) intelligence or counterintelligence activities, including analysis, to protect against terrorism; (2) prevent the laundering of money and the financing of terrorism through the establishment by financial institutions of reasonably designed risk-based programs to combat money laundering and the financing of terrorism; (3) facilitate the tracking of money that has been sourced through criminal activity or is intended to promote criminal or terrorist activity; (4) assess the money laundering, terrorism finance, tax evasion, and fraud risks to financial institutions, products, or services to— (A) protect the financial system of the United States from criminal abuse; and (B) safeguard the national security of the United States; and (5) establish appropriate frameworks for information sharing among financial institutions, their agents and service providers, their regulatory authorities, associations of financial institutions, the Department of the Treasury, and law enforcement authorities to identify, stop, and apprehend money launderers and those who finance terrorists.

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1829b — Retention of records by insured depository institutions

**(a) Congressional findings and declaration of purpose** (1) **Findings** — Congress finds that— (A) adequate records maintained by insured depository institutions have a high degree of usefulness in criminal, tax, and regulatory investigations or proceedings, and that, given the threat posed to the security of the Nation on and after the terrorist attacks against the United States on September 11, 2001, such records may also have a high degree of usefulness in the conduct of intelligence or counterintelligence activities, including analysis, to protect against domestic and international terrorism; and (B) microfilm or other reproductions and other records made by insured depository institutions of checks, as well as records kept by such institutions, of the identity of persons maintaining or authorized to act with respect to accounts therein, have been of particular value in proceedings described in subparagraph (A). (2) **Purpose** — It is the purpose of this section to require the maintenance of appropriate types of records by insured depository institutions in the United States where such records have a high degree of usefulness in criminal, tax, or regulatory investigations or proceedings, recognizing that, given the threat posed to the security of the Nation on and after the terrorist attacks against the United States on September 11, 2001, such records may also have a high degree of usefulness in the conduct of intelligence or counterintelligence activities, including analysis, to protect against international terrorism. **(b) Recordkeeping regulations** (1) **In general** — Where the Secretary of the Treasury (referred to in this section as the “Secretary”) determines that the maintenance of appropriate types of records and other evidence by insured d

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 3101 — Definitions

For the purposes of this chapter— (1) “agency” means any office or any place of business of a foreign bank located in any State of the United States at which credit balances are maintained incidental to or arising out of the exercise of banking powers, checks are paid, or money is lent but at which deposits may not be accepted from citizens or residents of the United States; (2) “Board” means the Board of Governors of the Federal Reserve System; (3) “branch” means any office or any place of business of a foreign bank located in any State of the United States at which deposits are received; (4) “Comptroller” means the Comptroller of the Currency; (5) “Federal agency” means an agency of a foreign bank established and operating under [section 3102 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3102&num=0&edition=prelim); (6) “Federal branch” means a branch of a foreign bank established and operating under [section 3102 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3102&num=0&edition=prelim); (7) “foreign bank” means any company organized under the laws of a foreign country, a territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands, which engages in the business of banking, or any subsidiary or affiliate, organized under such laws, of any such company. For the purposes of this chapter the term “foreign bank” includes, without limitation, foreign commercial banks, foreign merchant banks and other foreign institutions that engage in banking activities usual in connection with the business of banking in the countries where such foreign institutions are organized or operating; (8) “foreign country” means any country other than the United States, and

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Federal law — U.S. Code and appendices · legal_authorities

31 U.S.C. § 5315 — Reports on foreign currency transactions

**(a)** Congress finds that— (1) moving mobile capital can have a significant impact on the proper functioning of the international monetary system; (2) it is important to have the most feasible current and complete information on the kind and source of capital flows, including transactions by large United States businesses and their foreign affiliates; and (3) additional authority should be provided to collect information on capital flows under section 5(b) of the Trading With the Enemy Act (50 App. U.S.C. 5(b)) 11 See References in Text note below. and section 8 of the Bretton Woods Agreement Act ([22 U.S.C. 286f](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section286f&num=0&edition=prelim)). **(b)** In this section, “United States person” and “foreign person controlled by a United States person” have the same meanings given those terms in section 7(f)(2)(A) and (C), respectively, of the Securities and Exchange Act of 1934 ([15 U.S.C. 78g(f)(2)(A)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78g/f/2/A&num=0&edition=prelim), (C)). **(c)** The Secretary of the Treasury shall prescribe regulations consistent with subsection (a) of this section requiring reports on foreign currency transactions conducted by a United States person or a foreign person controlled by a United States person. The regulations shall require that a report contain information and be submitted at the time and in the way, with reasonable exceptions and classifications, necessary to carry out this section.

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 6103 — Confidentiality and disclosure of returns and return information

**(a) General rule** Returns and return information shall be confidential, and except as authorized by this title— (1) no officer or employee of the United States, (2) no officer or employee of any State, any local law enforcement agency receiving information under subsection (i)(1)(C) or (7)(A), any tribal or local child support enforcement agency, or any local agency administering a program listed in subsection (l)(7)(D) who has or had access to returns or return information under this section or section 6104(c), and (3) no other person (or officer or employee thereof) who has or had access to returns or return information under subsection (c), subsection (e)(1)(D)(iii), paragraph (10), (13), (14), or (15) of subsection (k), paragraph (6), (8), (10), (12), (13) (other than subparagraphs (D)(v) and (D)(vi) thereof), (16), (19), (20), or (21) of subsection (l), paragraph (2) or (4)(B) of subsection (m), or subsection (n), shall disclose any return or return information obtained by him in any manner in connection with his service as such an officer or an employee or otherwise or under the provisions of this section. For purposes of this subsection, the term “officer or employee” includes a former officer or employee. **(b) Definitions** For purposes of this section— (1) **Return** — The term “return” means any tax or information return, declaration of estimated tax, or claim for refund required by, or provided for or permitted under, the provisions of this title which is filed with the Secretary by, on behalf of, or with respect to any person, and any amendment or supplement thereto, including supporting schedules, attachments, or lists which are supplemental to, or part of, the return so filed. (2) **Return information** — The term “return information” means— (

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1829b — Retention of records by insured deposi-

Page 1134 TITLE 12—BANKS AND BANKING § 1829a PROVISIONS NOT REPEALED, MODIFIED OR AFFECTED Nothing contained in sections 201 to 205 and 207 of Pub. L. 89–695 amending sections 1813 and 1817 to 1820 and repealing section 77 of this title to be construed as repealing, modifying, or affecting this section, see sec- tion 206 of Pub. L. 89–695, set out as a note under sec- tion 1813 of this title. § 1829a. Participation by State nonmember in- sured banks in lotteries and related activi- ties (a) Prohibited activities A State nonmember insured bank may not— (1) deal in lottery tickets; (2) deal in bets used as a means or substitute for participation in a lottery; (3) announce, advertise, or publicize the ex- istence of any lottery; or (4) announce, advertise, or publicize the ex- istence or identity of any participant or win- ner, as such, in a lottery. (b) Use of banking premises prohibited A State nonmember insured bank may not permit— (1) the use of any part of any of its banking offices by any person for any purpose forbid- den to the bank under subsection (a), or (2) direct access by the public from any of its banking offices to any premises used by any person for any purpose forbidden to the bank under subsection (a). (c) Definitions As used in this section— (1) The term ‘‘deal in’’ includes making, tak- ing, buying, selling, redeeming, or collecting. (2) The term ‘‘lottery’’ includes any arrange- ment, other than a savings promotion raffle, whereby three or more persons (the ‘‘partici- pants’’) advance money or credit to another in exchange for the possibility or expectation that one or more but not all of the partici- pants (the ‘‘winners’’) will receive by reason of their advances more than the amounts they have advanced, the identity of t

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Federal law — U.S. Code and appendices · legal_authorities

31 U.S.C. § 5313 — Reports on domestic coins and currency

Page 446 TITLE 31—MONEY AND FINANCE § 5313 The Commodity Exchange Act, referred to in subsec. (c)(1)(A), is act Sept. 21, 1922, ch. 369, 42 Stat. 998, which is classified generally to chapter 1 (§ 1 et seq.) of Title 7, Agriculture. For complete classification of this Act to the Code, see section 1 of Title 7 and Tables. AMENDMENTS 2021—Subsec. (a)(1). Pub. L. 116–283, § 6102(d)(1)(A), substituted ‘‘, a transaction in money, credit, securi- ties or gold, or a service provided with respect to money, securities, futures, precious metals, stones and jewels, or value that substitutes for currency’’ for ‘‘, or a transaction in money, credit, securities, or gold’’. Subsec. (a)(2)(J). Pub. L. 116–283, § 6102(d)(1)(B)(i), in- serted ‘‘, or a business engaged in the exchange of cur- rency, funds, or value that substitutes for currency or funds’’ before semicolon at end. Subsec. (a)(2)(R). Pub. L. 116–283, § 6102(d)(i)(B)(ii), substituted ‘‘currency, funds, or value that substitutes for currency,’’ for ‘‘funds,’’. Subsec. (a)(2)(Y) to (AA). Pub. L. 116–283, § 6110(a)(1), added subpar. (Y) and redesignated former subpars. (Y) and (Z) as (Z) and (AA), respectively. Subsec. (a)(3)(D). Pub. L. 116–283, § 6102(d)(1)(C), added subpar. (D). 2004—Subsec. (a)(2)(E). Pub. L. 108–458, § 6202(g), made technical correction to directory language of Pub. L. 107–56, § 321(a). See 2001 Amendment note below. Subsec. (a)(3)(C). Pub. L. 108–458, § 6203(b), substituted ‘‘sections 5316 and 5331’’ for ‘‘sections 5333 and 5316’’. 2001—Subsec. (a)(2)(E). Pub. L. 107–56, § 321(a), as amended by Pub. L. 108–458, § 6202(g), amended subpar. (E) generally. Prior to amendment, subpar. (E) read as follows: ‘‘an insured institution (as defined in section 401(a) of the National Housi

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