Reports Relating to Currency in Excess of $10,000 Received in a Trade or Business, or Received as Bail by Court Clerks; Form 8300 (31 CFR 1010.330 and 31 CFR 1010.331).

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 8300 Reports Relating to Currency in Excess of $10,000 Received in a Trade or Business, or Received as Bail by Court Clerks; Form 8300 (31 CFR 1010.330 and 31 CFR 1010.331).	Form and Instruction	Modified	Repair queued
1506-0018-Form 8300 Supporting Statement-2-12-2021 final.docx	Supporting Statement A	Uploaded 2021-02-12	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
39055	Reports Relating to Currency in Excess of $10,000 Received in a Trade or Business, or Received as Bail by Court Clerks; Form 8300 (31 CFR 1010.330 and 31 CFR 1010.331).	Form and Instruction	Modified

ICR Details

OMB Control No: 1506-0018	ICR Reference No: 202102-1506-001
Status: Received in OIRA	Previous ICR Reference No: 201710-1506-001
Agency/Subagency: TREAS/FINCEN	Agency Tracking No:
Title: Reports Relating to Currency in Excess of $10,000 Received in a Trade or Business, or Received as Bail by Court Clerks; Form 8300 (31 CFR 1010.330 and 31 CFR 1010.331).
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 02/24/2021

table that charts list comparision

	Requested	Previously Approved
Expiration Date	36 Months From Approved	02/28/2021
Responses	323,068	329,903
Time Burden (Hours)	161,534	164,952
Cost Burden (Dollars)	0	0

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Abstract: 31 U.S.C. 5331 of the BSA and 26 U.S.C. 6050I of the Internal Revenue Code require that certain transactions be reported to both FinCEN and the Internal Revenue Service (IRS) in the form and manner prescribed by the Secretary of the Treasury. The BSA implementing regulations are found at 31 CFR 1010.330 and 31 CFR 1010.331, respectively, and require: (1) any person engaged in a trade or business (other than a financial institution required to file currency transaction reports under FinCEN regulations) who, in the course of that trade or business, receives more than $10,000 in coins or currency in one transaction or two or more related transactions, and (2) any clerk of a federal or state court who receives more than $10,000 in currency as bail for any individual charged with a specified criminal offense, to report these transactions on the Form 8300.

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Authorizing Statute(s): US Code: 31 USC 5331 Name of Law: Money and Finance - Monetary Transactions
   US Code: 26 USC 6050I Name of Law: Internal Revenue Code
  

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:
	85 FR 78932	12/07/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 11379	02/24/2021
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
Reports Relating to Currency in Excess of $10,000 Received in a Trade or Business, or Received as Bail by Court Clerks; Form 8300 (31 CFR 1010.330 and 31 CFR 1010.331).	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 Request	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	323,068	329,903	0	0	-6,835	0
Annual Time Burden (Hours)	161,534	164,952	0	0	-3,418	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: The estimated total annual burden hours decreased from 164,952 hours to 161,534 hours since the last control number renewal in 2017. The estimated burden for reporting and recordkeeping remained at 30 minute per respondent. The decrease in burden is a result of a decrease in the estimated number of Form 8300s filed in 2017 (329,903 x 30 minutes = 164,952 hours) and 2019 (323,067 x 30 minutes = 161,534 hours).

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Annual Cost to Federal Government: $32,306

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.     Yes

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? No

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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: 02/24/2021

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