[Federal Register Volume 79, Number 77 (Tuesday, April 22, 2014)]
[Notices]
[Page 22584]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-09032]
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DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network
Proposed Collection; Comment Request; Renewal Without Change of
the FinCEN Form 8300
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 to the collection of information
through Form 8300, Report of Cash Payments Over $10,000 Received in a
Trade or Business. 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).
DATES: Written comments should be received on or before June 23, 2014
to be assured of consideration.
ADDRESSES: Written comments should be submitted to: Policy Division,
Financial Crimes Enforcement Network, U.S. Department of the Treasury,
P.O. Box 39, Vienna, Virginia 22183. Attention: PRA Comments--Form 8300
Renewal. 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--Form 8300 Renewal.''
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) 905-3591 (not a toll free
call).
FOR FURTHER INFORMATION CONTACT: The FinCEN Resource Center at 800-767-
2825.
SUPPLEMENTARY INFORMATION: Title: Report of Cash Payments Over $10,000
Received in a Trade or Business.
Office of Management and Budget (``OMB'') Number: 1506-0018.
Form Number: 8300.
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, among other things, 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.\1\
Regulations implementing Title II of the Bank Secrecy Act appear at 31
CFR Chapter X.
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\1\ Language expanding the scope of the Bank Secrecy Act to
intelligence or counter-intelligence activities to protect against
international terrorism was added by Section 358 of the Uniting and
Strengthening America by Providing Appropriate Tools Required to
Intercept and Obstruct Terrorism Act of 2001, Public Law 107-56.
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The authority of the Secretary to administer the Bank Secrecy Act
has been delegated to the Director of FinCEN.
Section 365 of the USA PATRIOT Act of 2001 (Pub. L. 107-56), adding
new section 5331 to Title 31 of the United States Code, authorized
FinCEN to collect the information reported on Form 8300. The
information collected on Form 8300 is required to be provided pursuant
to 31 U.S.C. 5331, as implemented by FinCEN regulations found at 31 CFR
1010.331.
The regulations require any person in a trade or business who, in
the course of the trade or business, receives more than $10,000 in cash
or foreign currency in one or more related transactions to report it to
FinCEN and provide a statement to the person. The information collected
under this requirement is made available to appropriate agencies and
organizations as disclosed in FinCEN's Privacy Act System of Records
Notice relating to BSA Reports.\2\
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\2\ Treasury Department bureaus such as FinCEN renew their
System of Records Notices every three years unless there is cause to
amend them more frequently. FinCEN's System of Records Notice for
the BSA Report System was most recently published at 77 FR 60014,
October 1, 2012.
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Current Action: A renewal without change to the current Form 8300.
The report is accessible on the FinCEN Web site at: http://www.fincen.gov/forms/files/fin8300_cashover10k.pdf.
Type of Review: Renewal without change of a currently approved
collection.
Affected Public: Businesses or other for-profit organizations,
farms, and the Federal government.
Frequency: As required.
Estimated Number of Respondents: 46,800.
Estimated Time per Respondent: 45 minutes.
Estimated Total Annual Burden Hours: 35,100.\3\
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\3\ The burden for the information collection in 31 CFR
1010.330, (also approved under control number 1506-0018), is
reflected in the burden of the form and includes reporting and
recordkeeping.
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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. In accordance with 31
CFR 1010.330(e)(3), a person required to make a report under this
section must keep a copy of each report filed for five years from the
date of filing.
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: April 16, 2014.
Jennifer Shasky Calvery,
Director, Financial Crimes Enforcement Network.
[FR Doc. 2014-09032 Filed 4-21-14; 8:45 am]
BILLING CODE 4810-02-P