Report of Cash Payment Over $10,000 Received in a Trade or Business

Forms and Documents

Document Name	Status
Form FinCEN 8300 Report of Cash Payment Over $10,000 Received in a Trade or Business Form and Instruction	Modified
FinCEN 8300 1-16-2013 83I Supp.doc Supporting Statement A	2013-01-17

IC Document Collections

IC ID	Document Title	Status
39055	Report of Cash Payment Over $10,000 Received in a Trade or Business Form and Instruction	Modified

ICR Details

OMB Control No: 1506-0018	ICR Reference No: 201301-1506-001
Status: Historical Active	Previous ICR Reference No: 200911-1506-001
Agency/Subagency: TREAS/FINCEN	Agency Tracking No:
Title: Report of Cash Payment Over $10,000 Received in a Trade or Business
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/11/2013
	Date Received in OIRA: 01/31/2013
Terms of Clearance: Prior to renewal of this form, as this is a joint form for use by IRS and FinCEN, in accordance with the the authority to collect this information, Treasury will either provide a separate submission for bureau's share of the burden, or one bureau will account for the total burden. Treasury will make this clear in the supporting statement of its next submission. It will also determine whether the burden should be accounted for instead in the 1545-0074 collection and/or information collections associated with corporate tax forms.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2014	36 Months From Approved	07/31/2013
Responses	228,000	0	140,400
Time Burden (Hours)	114,000	0	70,200
Cost Burden (Dollars)	0	0	0

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Abstract: Anyone in a trade or business who, in the course of such trade or business, receives more than $10,000 in cash or foreign currency in one or more related transactions must report it to the IRS and provide a statement to the payor. Any transaction which must be reported under Title 31 on FinCEN Form 104 is exempted from reporting the same transaction on Form 8300. The USA Patriot Act of 2001 (P.L. 107-56) authorized the Financial Crimes Enforcement Network to collect the information reported on Form 8300.

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Authorizing Statute(s): US Code: 31 USC 5331 Name of Law: Money and Finance - Monetary Transactions
  

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:
	77 FR 70545	11/26/2012
30-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 6173	01/29/2013
Did the Agency receive public comments on this ICR? No

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

IC Title	Form No.	Form Name
Report of Cash Payment Over $10,000 Received in a Trade or Business	FinCEN 8300	Report of Cash Payment Over $10,000 Received in a Trade or Business

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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	228,000	140,400	0	0	87,600	0
Annual Time Burden (Hours)	114,000	70,200	0	0	43,800	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: Joint IRS/FinCEN outreach efforts have better informed the public of this requirement resulting in an increase in the number of reports filed.

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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: 01/31/2013

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