Bank Secrecy Act Currency Transaction Report (BSA-CTR)

Forms and Documents

Document Name	Status
Form FinCEN 112 Bank Secrecy Act Currency Transaction Report (BSA-CTR) Form	New
CTR(2011) 83I Supp.doc Supporting Statement A	2011-05-05

IC Document Collections

IC ID	Document Title	Status
197597	Bank Secrecy Act Currency Transaction Report (BSA-CTR) Form	New

ICR Details

OMB Control No: 1506-0064	ICR Reference No: 201105-1506-001
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: TREAS/FINCEN	Agency Tracking No:
Title: Bank Secrecy Act Currency Transaction Report (BSA-CTR)
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/15/2011
	Date Received in OIRA: 05/26/2011
Terms of Clearance: As part of the new system of records, a system of records notice (SORN) must be filed in conjunction with this ICR if it has not already been done. Renewal will be dependent on successful submission of a SORN.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2013	36 Months From Approved
Responses	14,103,070	0	0
Time Burden (Hours)	9,402,046	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: FinCEN is continuing the design of a new Bank Secrecy Act (BSA) database (the Database) and invites comment on the list of proposed data fields within the Database that will be required to support unified Currency Transaction Report (CTR) filings by financial institutions required to file such reports under the BSA. The BSA-CTR incorporates the latest technology in electronic information collection.

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Authorizing Statute(s): US Code: 31 USC 5313(a) Name of Law: Money and Finance
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 4747	01/26/2011
30-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 30427	05/25/2011
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Bank Secrecy Act Currency Transaction Report (BSA-CTR)	FinCEN 112	BSA-CTR

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	14,103,070	0	0	14,103,070	0	0
Annual Time Burden (Hours)	9,402,046	0	0	9,402,046	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: FinCEN is fielding a new System-of-Record (SOR) that will employ dynamic forms to collect financial information form various reporting entities. The BSA-CTR is one of the new dynamic collection tools that will be used.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 05/26/2011

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