FinCEN Report 112 - Currency Transaction Report

ICR 202007-1506-001

OMB: 1506-0064

Federal Form Document

Forms and Documents
Supporting Statement A
IC Document Collections
197597 Modified
ICR Details
1506-0064 202007-1506-001
Active 201604-1506-007
FinCEN Report 112 - Currency Transaction Report
Extension without change of a currently approved collection   No
Approved without change 09/16/2020
Retrieve Notice of Action (NOA) 07/30/2020
  Inventory as of this Action Requested Previously Approved
09/30/2023 36 Months From Approved 09/30/2020
16,087,182 0 15,195,195
2,124,992 0 10,130,130
0 0 0

Under 31 U.S.C. 5313, the Secretary of the Treasury is authorized to require financial institutions to report currency transactions exceeding $10,000. Regulations implementing 31 U.S.C. 5313 are found at 31 CFR 1010.310 through 1010.314, 31 CFR 1021.311, and 31 CFR 1021.313. Financial institutions are required to report currency transactions over $10,000 conducted by, or on behalf of, one person, as well as multiple currency transactions that aggregate to be over $10,000 in a single day. These transactions are reported on FinCEN Report 112- Currency Transaction Report (“CTR”). The reports of transactions in currency regulatory requirements are currently covered under the following OMB control numbers: 1506-0004 (General provisions - 31 CFR 1010.310 - Reports of transactions in currency, 31 CFR 1010.311 - Filing obligations for reports of transactions in currency, 31 CFR 1010.312 - Identification required, 31 CFR 1010.313 - Aggregation, and 31 CFR 1010.314 - Structured transactions), and 1506-0005 (Rules for casinos and card clubs - 31 CFR 1021.311 - Reports of transaction in currency, and 31 CFR 1021.313 - Aggregation). OMB control number 1506-0064 applies to FinCEN Report 112 - CTR. An administrative burden of one hour is assigned to each of the CTR regulation OMB control numbers in order to maintain the requirements in force. The reporting and recordkeeping burden is reflected in FinCEN Report 112 – Currency Transaction Report (“CTR”) under OMB control number 1506-0064. The rationale for assigning one burden hour to each of the CTR regulation OMB control numbers is that the annual burden hours would be double counted if FinCEN estimated burden in each CTR regulation OMB control number and in the CTR OMB control number.

US Code: 31 USC 5313 Name of Law: Money and Finance

Not associated with rulemaking

  85 FR 29022 05/14/2020
85 FR 45959 07/30/2020

IC Title Form No. Form Name
FinCEN Report 112 - Currency Transaction Report FinCEN Report 112 Currency Transaction 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 16,087,182 15,195,195 0 0 891,987 0
Annual Time Burden (Hours) 2,124,992 10,130,130 0 0 -8,005,138 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
The total estimate of the annual reporting and recordkeeping burden included: (a) a re-calculation of the portion of the PRA burden that FinCEN traditionally included in its PRA renewal notices (the “traditional PRA burden calculation”); and (b) an estimate of the portion of the total burden that FinCEN previously did not include in its PRA calculations (the “supplemental PRA burden calculation”). FinCEN’s traditional annual PRA burden calculation associated with the CTR previously included only the filer’s annual operational burden and cost associated with (a) producing and filing the report, and (b) storing a copy of the filed report. Starting with the current PRA renewal notice, FinCEN added a supplemental PRA burden calculation, reflecting the annual costs involved in (a) obtaining data required by the report that the filer does not need for its own bookkeeping, and (b) maintaining, updating, and upgrading the technological infrastructure required to file and store the report. Refer to 85 FR 29024-29026, May 14, 2020, Part 2 (Re-calculation of the traditional annual PRA burden and cost) for specific details outlining the revised burden and cost estimates associated with the traditional annual PRA burden and cost. Refer to 85 FR 29026- 29029, Part 3 (Estimate of the supplemental annual PRA burden) for specific details outlining the revised burden and cost estimates associated with the supplemental annual PRA burden.

FinCEN Resource Center 800 767-2825 [email protected]


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.

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