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

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 8300 Report of Cash Payment Over $10,000 Received in a Trade or Business	Form and Instruction	Modified	Available
FinCEN 8300 10-2-2017 Supp Final.docx	Supporting Statement A	Uploaded 2017-11-15	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
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: 201710-1506-001
Status: Active	Previous ICR Reference No: 201405-1506-001
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: 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: 02/21/2018
	Date Received in OIRA: 11/30/2017
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2021	36 Months From Approved	02/28/2018
Responses	329,903	0	228,000
Time Burden (Hours)	164,952	0	114,000
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 FinCEN and provide a statement to the payer. Any transaction which must be reported under Title 31 on FinCEN Form 112 (BCTR) 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:
	82 FR 35869	08/01/2017
30-day Notice:	Federal Register Citation:	Citation Date:
	82 FR 56325	11/28/2017
Did the Agency receive public comments on this ICR? No

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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
Report of Cash Payment Over $10,000 Received in a Trade or Business	8300	Report of Cash Payments Over $10,000 Received in a Trade or Business

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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	329,903	228,000	0	101,903	0	0
Annual Time Burden (Hours)	164,952	114,000	0	50,952	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: The 8300 is a joint FinCEN and IRS form. Outreach efforts to the reporting industry has resulted in an increase in awareness of the requirement to report resulting in an increase in the number of reports filed.

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Annual Cost to Federal Government: $16,495

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.     Yes

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: 11/30/2017

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