[Federal Register Volume 77, Number 53 (Monday, March 19, 2012)]
[Pages 16119-16120]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-6477]



Financial Crimes Enforcement Network

Agency Information Collection Activities; Proposed Collection; 
Comment Request; Report of International Transportation of Currency or 
Monetary Instruments

AGENCY: Financial Crimes Enforcement Network (FinCEN), Treasury.

ACTION: Notice and request for comments regarding the renewal without 
change of the Report of International Transportation of Currency or 
Monetary Instruments (CMIR).


SUMMARY: As part of our continuing effort to reduce paperwork and 
respondent burden, FinCEN invites the general public and other Federal 
agencies to comment on an information collection requirement concerning 
the CMIR. This request for comment is being made pursuant to the 
Paperwork Reduction Act of 1995 (PRA), Public Law 10 U.S.C. 

DATES: Written comments should be received on or before May 18, 2012 to 
be assured of consideration.

ADDRESSES: Direct all written comments to: Regulatory Policy and 
Programs Division, Financial Crimes Enforcement Network, Department of 
the Treasury, P.O. Box 39, Vienna, VA 22183-0039, Attention: PRA 
Comments--Report of International Transportation of Currency or 
Monetary Instruments. 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--Report of 
International Transportation of Currency or Monetary Instruments.''
    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) 905-5034 (Not a toll free 

FOR FURTHER INFORMATION CONTACT: The FinCEN Regulatory Helpline at 800-
949-2732, select option 6. A copy of the form may also be obtained from 
the FinCEN Web site at http://

[[Page 16120]]


    Title: Report of International Transportation of Currency or 
Monetary Instruments (CMIR).
    Office of Management and Budget Number (OMB): 1506-0014.
    Form Number: FinCEN Form 105.
    Abstract: FinCEN exercises regulatory functions primarily under the 
Currency and Financial Transactions Reporting Act of 1970, as amended 
by the USA PATRIOT Act of 2001 and other legislation. This legislative 
framework is commonly referred to as the ``Bank Secrecy Act'' 
(``BSA'').\1\ The Secretary of the Treasury has delegated to the 
Director of FinCEN the authority to implement, administer and enforce 
compliance with the BSA and associated regulations.\2\ Pursuant to this 
authority, FinCEN may issue regulations requiring financial 
institutions to keep records and file reports that ``have a high degree 
of usefulness in criminal, tax, or regulatory investigations or 
proceedings, or in the conduct of intelligence or counterintelligence 
activities, including analysis, to protect against international 
terrorism.'' \3\ Additionally, FinCEN is authorized to impose 
regulations to maintain procedures to ensure compliance with the BSA 
and FinCEN's implementing regulations, or to guard against money 
laundering, which includes imposing anti-money laundering (``AML'') 
program requirements on financial institutions.\4\

    \1\ The BSA is codified at 12 U.S.C. 1829b, 12 U.S.C. 1951-1959, 
31 U.S.C. 5311-5314 and 5316-5332 and notes thereto, with 
implementing regulations at 31 CFR chapter X. See 31 CFR 
    \2\ Treasury Order 180-01 (Sept. 26, 2002).
    \3\ 31 U.S.C. 5311.
    \4\ 31 U.S.C. 5318(a) and (h).

    Pursuant to the BSA, the requirement of 31 U.S.C. 5316(a) has been 
implemented through regulations promulgated at 31 CFR 1010.340 and 
through the instructions for the CMIR as follows:
    (1) Each person who physically transports, mails, or ships, or 
causes to be physically transported, mailed, or shipped currency or 
other monetary instruments in an aggregate amount exceeding $10,000 at 
one time from the United States to any place outside the United States 
or into the United States from any place outside the United States, and
    (2) Each person who receives in the United States currency or other 
monetary instruments in an aggregate amount exceeding $10,000 at one 
time which have been transported, mailed, or shipped to the person from 
any place outside the United States. A transfer of funds through normal 
banking procedures, which does not involve the physical transportation 
of currency or monetary instruments, is not required to be reported on 
the CMIR.
    Information collected on the CMIR is made available, in accordance 
with strict safeguards, to appropriate criminal law enforcement and 
regulatory personnel in the official performance of their duties. The 
information collected is of use in investigations involving 
international and domestic money laundering, tax evasion, fraud, and 
other financial crimes.
    Current Actions: Renewal without change.\5\

    \5\ On October 17, 2011, FinCEN published an NPRM (See 76 FR 
64049) requesting comments on the proposed change to the definition 
of ``monetary instrument'' in the BSA. The comment period closed 
December 16, 2011. FinCEN received 14 comments in response (See 
http://www.regulations.gov/and search on RIN 1506-AB13). Any changes 
resulting from this NPRM will be the subject of a subsequent notice.

    Type of Review: Renewal of a currently approved collection.
    Affected Public: Individuals, business or other for-profit 
institutions, and not-for-profit institutions.
    Estimated Number of Respondents: 280,000.
    Estimated Time per Respondent: 30 minutes.
    Estimated Total Annual Burden Hours: 140,000 hours.
    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. Records required to be 
retained under the BSA must be retained for five years. Generally, 
information collected pursuant to the BSA is confidential, but may be 
shared as provided by law with regulatory and law enforcement 
    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: February 13, 2012.
James H. Freis, Jr.,
Director, Financial Crimes Enforcement Network.
[FR Doc. 2012-6477 Filed 3-16-12; 8:45 am]