31 U.S.C. § 5324 — Structuring transactions to evade report-

Page 480 TITLE 31—MONEY AND FINANCE § 5324 valid or enforceable, to the extent the agree- ment requires arbitration of a dispute arising under this section. (Added Pub. L. 98–473, title II, § 901(e), Oct. 12, 1984, 98 Stat. 2135; amended Pub. L. 116–283, div. F, title LXIII, § 6314(a), Jan. 1, 2021, 134 Stat. 4597; Pub. L. 117–328, div. AA, title IV, § 401, Dec. 29, 2022, 136 Stat. 5536.) Editorial Notes REFERENCES IN TEXT Chapter 35 of title 50, referred to in subsecs. (a)(1), (5), (b)(4)(A)(i), (c)(1)(B)(iii), and (g)(4)(D)(i), probably should be a reference to the International Emergency Economic Powers Act, title II of Pub. L. 95–223, Dec. 28, 1977, 91 Stat. 1626, which is classified generally to chap- ter 35 (§ 1701 et seq.) of Title 50, War and National De- fense. Sections 4305 and 4312 of title 50, referred to in sub- secs. (a)(1), (5), (b)(4)(A)(i), (c)(1)(B)(iii), and (g)(4)(D)(i), probably should be references to sections 5 and 12 of the Trading with the Enemy Act, act Oct. 6, 1917, ch. 106, which are classified to sections 4305 and 4312, respec- tively, of Title 50, War and National Defense. The Foreign Narcotics Kingpin Designation Act, re- ferred to in subsecs. (a)(1), (5), (b)(4)(A)(i), (c)(1)(B)(iii), and (g)(4)(D)(i), is title VIII of Pub. L. 106–120, Dec. 3, 1999, 113 Stat. 1626, which is classified principally to chapter 24 (§ 1901 et seq.) of Title 21, Food and Drugs. For complete classification of this Act to the Code, see Short Title note set out under section 1901 of Title 21 and Tables. AMENDMENTS 2022—Subsec. (a)(1). Pub. L. 117–328, § 401(b)(1)(A), sub- stituted ‘‘this subchapter, chapter 35 or section 4305 or 4312 of title 50, the Foreign Narcotics Kingpin Designa- tion Act (21 U.S.C. 1901 et seq.), or .), and for conspir- acies to violate the aforementioned provisions’’ for ‘‘this subchapter or subchapter III’’. Subsec. (a)(4). Pub. L. 117–328, § 401(b)(1)(B), inserted ‘‘covered’’ after ‘‘respect to any’’, struck out ‘‘under this subchapter or subchapter III’’ after ‘‘Attorney General’’, and substituted ‘‘covered action’’ for ‘‘action by the Secretary or the Attorney General’’. Subsec. (a)(5). Pub. L. 117–328, § 401(b)(1)(A), sub- stituted ‘‘this subchapter, chapter 35 or section 4305 or 4312 of title 50, the Foreign Narcotics Kingpin Designa- tion Act (21 U.S.C. 1901 et seq.), or .), and for conspir- acies to violate the aforementioned provisions’’ for ‘‘this subchapter or subchapter III’’. Subsec. (b). Pub. L. 117–328, § 401(a), added subsec. (b) and struck out former subsec. (b). Prior to amendment, text read as follows: ‘‘(1) IN GENERAL.—In any covered judicial or adminis- trative action, or related action, the Secretary, under regulations prescribed by the Secretary, in consulta- tion with the Attorney General and subject to sub- section (c) and to amounts made available in advance by appropriation Acts, shall pay an award or awards to 1 or more whistleblowers who voluntarily provided original information to the employer of the individual, the Secretary, or the Attorney General, as applicable, that led to the successful enforcement of the covered judicial or administrative action, or related action, in an aggregate amount equal to not more than 30 per- cent, in total, of what has been collected of the mone- tary sanctions imposed in the action or related actions. ‘‘(2) SOURCE OF AWARDS.—For the purposes of paying any award under this section, the Secretary may, sub- ject to amounts made available in advance by appro- priation Acts, use monetary sanction amounts recov- ered based on the original information with respect to which the award is being paid.’’ Subsec. (c)(1)(B)(iii). Pub. L. 117–328, § 401(b)(2), sub- stituted ‘‘this subchapter, chapter 35 or section 4305 or 4312 of title 50, and the Foreign Narcotics Kingpin Des- ignation Act (21 U.S.C. 1901 et seq.)’’ for ‘‘subchapter and subchapter III’’ and ‘‘the covered judicial or admin- istrative action’’ for ‘‘either such subchapter’’. Subsec. (g)(4)(D)(i). Pub. L. 117–328, § 401(b)(3), inserted ‘‘chapter 35 or section 4305 or 4312 of title 50, or the For- eign Narcotics Kingpin Designation Act (21 U.S.C. 1901 et seq.),’’ after ‘‘subchapter,’’. 2021—Pub. L. 116–283 amended section generally. Prior to amendment, section related to rewards for inform- ants. § 5324. Structuring transactions to evade report- ing requirement prohibited (a) DOMESTIC COIN AND CURRENCY TRANS- ACTIONS INVOLVING FINANCIAL INSTITUTIONS.—No person shall, for the purpose of evading the re- porting requirements of section 5313(a) or 5325 or any regulation prescribed under any such sec- tion, the reporting or recordkeeping require- ments imposed by any order issued under sec- tion 5326, or the recordkeeping requirements im- posed by any regulation prescribed under sec- tion 21 of the Federal Deposit Insurance Act or section 123 of Public Law 91–508— (1) cause or attempt to cause a domestic fi- nancial institution to fail to file a report re- quired under section 5313(a) or 5325 or any reg- ulation prescribed under any such section, to file a report or to maintain a record required by an order issued under section 5326, or to maintain a record required pursuant to any regulation prescribed under section 21 of the Federal Deposit Insurance Act or section 123 of Public Law 91–508; (2) cause or attempt to cause a domestic fi- nancial institution to file a report required under section 5313(a) or 5325 or any regulation prescribed under any such section, to file a re- port or to maintain a record required by any order issued under section 5326, or to maintain a record required pursuant to any regulation prescribed under section 5326, or to maintain a record required pursuant to any regulation prescribed under section 21 of the Federal De- posit Insurance Act or section 123 of Public Law 91–508, that contains a material omission or misstatement of fact; or (3) structure or assist in structuring, or at- tempt to structure or assist in structuring, any transaction with one or more domestic fi- nancial institutions. (b) DOMESTIC COIN AND CURRENCY TRANS- ACTIONS INVOLVING NONFINANCIAL TRADES OR BUSINESSES.—No person shall, for the purpose of evading the report requirements of section 5331 or any regulation prescribed under such sec- tion— (1) cause or attempt to cause a nonfinancial trade or business to fail to file a report re- quired under section 5331 or any regulation prescribed under such section; (2) cause or attempt to cause a nonfinancial trade or business to file a report required under section 5331 or any regulation prescribed under such section that contains a material omission or misstatement of fact; or (3) structure or assist in structuring, or at- tempt to structure or assist in structuring, any transaction with 1 or more nonfinancial trades or businesses. (c) INTERNATIONAL MONETARY INSTRUMENT TRANSACTIONS.—No person shall, for the purpose Page 481 TITLE 31—MONEY AND FINANCE § 5325 of evading the reporting requirements of section 5316— (1) fail to file a report required by section 5316, or cause or attempt to cause a person to fail to file such a report; (2) file or cause or attempt to cause a person to file a report required under section 5316 that contains a material omission or misstatement of fact; or (3) structure or assist in structuring, or at- tempt to structure or assist in structuring, any importation or exportation of monetary instruments. (d) CRIMINAL PENALTY.— (1) IN GENERAL.—Whoever violates this sec- tion shall be fined in accordance with title 18, United States Code, imprisoned for not more than 5 years, or both. (2) ENHANCED PENALTY FOR AGGRAVATED CASES.—Whoever violates this section while violating another law of the United States or as part of a pattern of any illegal activity in- volving more than $100,000 in a 12-month pe- riod shall be fined twice the amount provided in subsection (b)(3) or (c)(3) (as the case may be) of section 3571 of title 18, United States Code, imprisoned for not more than 10 years, or both. (Added Pub. L. 99–570, title I, § 1354(a), Oct. 27, 1986, 100 Stat. 3207–22; amended Pub. L. 102–550, title XV, §§ 1517(a), 1525(a), 1535(a)(1), Oct. 28, 1992, 106 Stat. 4059, 4064, 4066; Pub. L. 103–322, title XXXIII, § 330017(a)(2), Sept. 13, 1994, 108 Stat. 2149; Pub. L. 103–325, title IV, §§ 411(a), 413(a)(2), Sept. 23, 1994, 108 Stat. 2253, 2254; Pub. L. 107–56, title III, §§ 353(c), 365(b)(1), (2)(A), Oct. 26, 2001, 115 Stat. 323, 334, 335; Pub. L. 108–458, title VI, § 6203(g), Dec. 17, 2004, 118 Stat. 3747.) Editorial Notes REFERENCES IN TEXT Section 21 of the Federal Deposit Insurance Act, re- ferred to in subsec. (a), is classified to section 1829b of Title 12, Banks and Banking. Section 123 of Public Law 91–508, referred to in sub- sec. (a), is classified to section 1953 of Title 12, Banks and Banking. AMENDMENTS 2004—Subsec. (b). Pub. L. 108–458 substituted ‘‘5331’’ for ‘‘5333’’ wherever appearing. 2001—Subsec. (a). Pub. L. 107–56, §§ 353(c)(1), (2), 365(b)(2)(A), inserted ‘‘Involving Financial Institu- tions’’ after ‘‘Transactions’’ in heading, and in intro- ductory provisions, inserted comma after ‘‘No person shall’’ and substituted ‘‘section, the reporting or rec- ordkeeping requirements imposed by any order issued under section 5326, or the recordkeeping requirements imposed by any regulation prescribed under section 21 of the Federal Deposit Insurance Act or section 123 of Public Law 91–508—’’ for ‘‘section—’’. Subsec. (a)(1). Pub. L. 107–56, § 353(c)(3), inserted ‘‘, to file a report or to maintain a record required by an order issued under section 5326, or to maintain a record required pursuant to any regulation prescribed under section 21 of the Federal Deposit Insurance Act or sec- tion 123 of Public Law 91–508’’ before semicolon at end. Subsec. (a)(2). Pub. L. 107–56, § 353(c)(4), inserted ‘‘, to file a report or to maintain a record required by any order issued under section 5326, or to maintain a record required pursuant to any regulation prescribed under section 5326, or to maintain a record required pursuant to any regulation prescribed under section 21 of the Federal Deposit Insurance Act or section 123 of Public Law 91–508,’’ after ‘‘regulation prescribed under any such section’’. Subsecs. (b) to (d). Pub. L. 107–56, § 365(b)(1), added subsec. (b) and redesignated former subsecs. (b) and (c) as (c) and (d), respectively. 1994—Subsec. (a). Pub. L. 103–322, § 330017(a)(2) and Pub. L. 103–325, § 413(a)(2), amended subsec. (a), intro- ductory provisions, identically, substituting ‘‘section 5313(a) or 5325 or any regulation prescribed under any such section’’ for ‘‘section 5313(a), section 5325, or the regulations issued thereunder or section 5325 or regula- tions prescribed under such section 5325’’ and striking out ‘‘with respect to such transaction’’ before dash. Subsec. (a)(1), (2). Pub. L. 103–322, § 330017(a)(2)(A) and Pub. L. 103–325, § 413(a)(2)(A), amended pars. (1) and (2) identically, substituting ‘‘section 5313(a) or 5325 or any regulation prescribed under any such section’’ for ‘‘sec- tion 5313(a), section 5325, or the regulations issued thereunder or section 5325 or regulations prescribed under such section 5325’’. Subsec. (c). Pub. L. 103–325, § 411(a), added subsec. (c). 1992—Pub. L. 102–550, § 1525(a)(1), designated existing provisions as subsec. (a), inserted heading, and added subsec. (b). Pub. L. 102–550, §§ 1517(a), 1535(a)(1), inserted the fol- lowing duplicative provisions ‘‘or section 5325 or regu- lations prescribed under such section 5325’’ and ‘‘, section 5325, or the regulations issued thereunder’’ after ‘‘section 5313(a)’’ wherever appearing. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2004 AMENDMENT Amendment by Pub. L. 108–458 effective as if included in Pub. L. 107–56, as of the date of enactment of such Act, and no amendment made by Pub. L. 107–56 that is inconsistent with such amendment to be deemed to have taken effect, see section 6205 of Pub. L. 108–458, set out as a note under section 1828 of Title 12, Banks and Banking. EFFECTIVE DATE Pub. L. 99–570, title I, § 1364(a), Oct. 27, 1986, 100 Stat. 3207–34, provided that: ‘‘The amendment made by sec- tion 1354 [enacting this section] shall apply with re- spect to transactions for the payment, receipt, or transfer of United States coins or currency or other monetary instruments completed after the end of the 3- month period beginning on the date of the enactment of this Act [Oct. 27, 1986].’’ § 5325. Identification required to purchase cer- tain monetary instruments (a) IN GENERAL.—No financial institution may issue or sell a bank check, cashier’s check, trav- eler’s check, or money order to any individual in connection with a transaction or group of such contemporaneous transactions which involves United States coins or currency (or such other monetary instruments as the Secretary may prescribe) in amounts or denominations of $3,000 or more unless— (1) the individual has a transaction account with such financial institution and the finan- cial institution— (A) verifies that fact through a signature card or other information maintained by such institution in connection with the ac- count of such individual; and (B) records the method of verification in accordance with regulations which the Sec- retary of the Treasury shall prescribe; or (2) the individual furnishes the financial in- stitution with such forms of identification as