Suspicious Activity Report Filing Requirements for Residential Mortgage Lenders and Originators

ICR 201808-1506-004

OMB: 1506-0061

Federal Form Document

Forms and Documents
Document
Name
Status
Form
Modified
Supporting Statement A
2018-09-24
IC Document Collections
IC ID
Document
Title
Status
195669 Modified
ICR Details
1506-0061 201808-1506-004
Historical Active 201503-1506-003
TREAS/FINCEN
Suspicious Activity Report Filing Requirements for Residential Mortgage Lenders and Originators
Extension without change of a currently approved collection   No
Regular
Approved without change 03/22/2019
Retrieve Notice of Action (NOA) 09/27/2018
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 Suspicious Activity 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.
  Inventory as of this Action Requested Previously Approved
07/31/2020 36 Months From Approved 03/31/2019
1 0 1
1 0 1
0 0 0

FinCEN, a bureau of the Department of the Treasury (''Treasury''), issued rules defining non-bank residential mortgage lenders and originators as loan or finance companies for the purpose of requiring them to establish anti-money laundering (AML) programs and suspicious activities report (SAR) under the Bank Secrecy Act. This information collection identifies burden associated with SAR.

US Code: 31 USC 5311-5314 Name of Law: Money and Finance
   US Code: 31 USC 5316-5332 Name of Law: Money and Finance
  
None

Not associated with rulemaking

  83 FR 34300 07/19/2018
83 FR 48896 09/27/2018
No

1
IC Title Form No. Form Name
Suspicious Activity Report FinCEN Form 111 Suspicious Activity Report

  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 1 1 0 0 0 0
Annual Time Burden (Hours) 1 1 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
    Yes
    No
No
No
No
Uncollected
Jaclyn Stewart 202 354-6028 [email protected]

  No

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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
09/27/2018


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