Anti-Money Laundering programs for money services business, mutual funds, operators of credit card systems, and Providers of Prepaid Access

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
0020 AML-86iSupporting Statement 2018 10-15-18.docx	Supporting Statement A	Uploaded 2018-10-25	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
200947	Anti-Money Laundering (AML) Program for Providers of Prepaid Access		Modified
15322	Anti-Money Laundering programs for money services business, mutual funds, and operators of credit card systems		Modified

ICR Details

OMB Control No: 1506-0020	ICR Reference No: 201808-1506-006
Status: Historical Active	Previous ICR Reference No: 201504-1506-002
Agency/Subagency: TREAS/FINCEN	Agency Tracking No:
Title: Anti-Money Laundering programs for money services business, mutual funds, operators of credit card systems, and Providers of Prepaid Access
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: 04/17/2019
	Date Received in OIRA: 10/30/2018
Terms of Clearance: Prior to subsequent renewals, FinCEN will a) clarify that the ICRs pertain to a recordkeeping requirement; b) incorporate language distinguishing between the burden of the program requirement vs. the burden of the documentation and recordkeeping requirement; c) solicit comment on the extent to which the recordkeeping requirement is requiring burden through the production of additional documentation not otherwise useful to the operation of the AMLprogram; and d) generate a burden estimate of the recordkeeping requirement in light of the responses received.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2020	36 Months From Approved	04/30/2019
Responses	2,910,406	0	2,838,406
Time Burden (Hours)	413,216	0	341,216
Cost Burden (Dollars)	0	0	0

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Abstract: Money services businesses, mutual funds, and operators of credit card systems, and providers of prepaid access are required to develop and implement written anti-money laundering program. A copy of the program must be maintained for five years. See 31 CFR 103.125, 103.130, and 103.135.

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Authorizing Statute(s): US Code: 31 USC 5311-5332 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:
	83 FR 42558	08/22/2018
30-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 54659	10/30/2018
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

table that charts list of burden

IC Title	Form No.	Form Name
Anti-Money Laundering programs for money services business, mutual funds, and operators of credit card systems
Anti-Money Laundering (AML) Program for Providers of Prepaid Access

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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	2,910,406	2,838,406	0	0	72,000	0
Annual Time Burden (Hours)	413,216	341,216	0	0	72,000	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 is an increase in burden due to higher estimates of the number of entities required to maintain written AML programs, based on the most recent data.

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Annual Cost to Federal Government: $0

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: 10/30/2018

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