Bank Secrecy Act Currency Transaction Report (BSA-CTR)

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
FinCEN CTR 7-5-17 83I Supp.doc	Supporting Statement A	Uploaded 2017-07-05	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
197597	Bank Secrecy Act Currency Transaction Report (BSA-CTR)	Instruction	Modified

ICR Details

OMB Control No: 1506-0064	ICR Reference No: 201604-1506-007
Status: Historical Active	Previous ICR Reference No: 201301-1506-002
Agency/Subagency: TREAS/FINCEN	Agency Tracking No:
Title: Bank Secrecy Act Currency Transaction Report (BSA-CTR)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/22/2019
	Date Received in OIRA: 04/21/2016
Terms of Clearance: FinCEN will work with the Office of Information and Regulatory Affairs during the next 15 months to develop a better process and methodology for accurately estimating the burden and practical utility associated with the collection of Currency Transaction Reports, and how to report such information under the Paperwork Reduction Act for each industry subject to the relevant regulations issued in implementing the Bank Secrecy Act.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2020	36 Months From Approved	03/31/2019
Responses	15,195,195	0	15,290,309
Time Burden (Hours)	10,130,130	0	10,193,539
Cost Burden (Dollars)	0	0	0

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Abstract: The collection of the information contained on the Bank Secrecy Act Currency Transaction Report (FinCEN Report 112) is authorized by statute (31 U.S.C. 5313(a)) and required by regulation (31 CFR 1010.311 and 1010.313). The regulation requires the reporting of transactions in currency by, through, or to a financial institution in excess of $10,000 during a single day.

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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:
	81 FR 5518	02/02/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 27191	05/05/2016
Did the Agency receive public comments on this ICR? Yes

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

table that charts list of burden

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

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ICR Summary of Burden

table that charts list 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	15,195,195	15,290,309	0	0	-95,114	0
Annual Time Burden (Hours)	10,130,130	10,193,539	0	0	-63,409	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement: There a decrease in the overall estimated burden due to a reduction in the frequency of reporting by financial institutions, based on recent data reported by the BSA E-Filing System.

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Annual Cost to Federal Government: $1,519,519

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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: 04/21/2016

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