4Treasury Order 180-01 (Sept. 26, 2002).
The information collected on the “report” is required to be provided pursuant to 31 U.S.C. 5313 as implemented by FinCEN regulations found at 31 CFR 1010.311 and 1021.311. The information collected under this requirement is made available to appropriate agencies and organizations as disclosed in FinCEN's Privacy Act System of Records Notice relating to BSA Reports.5
5Department of the Treasury bureaus such as FinCEN renew their System of Records Notices every three years unless there is cause to amend them more frequently. FinCEN's System of Records Notice for BSA Reports System was most recently published at 77 FR 60014-60022 (October 1, 2012).
Current Action:FinCEN is renewing, without change, the OMB-approved electronic data elements currently supporting the reporting of currency transactions. All filings (discrete, batch, and computer-to-computer) will be accessed through the BSA E-Filing system6
using current registration and login procedures.
6BSA E-Filing is a free service provided by FinCEN. More information on the filing methods may be accessed athttp://bsaefiling.fincen.treas.gov/main.html.
Type of Review:Renewal without change of the electronic data elements of the FinCEN CTR that support the electronic filing of a dynamic CTR.
Affected public:Business or other for-profit and not-for-profit financial institutions.
Estimated Reporting Burden:Average of 20 minutes per report and 20 minutes recordkeeping per filing. (The reporting burden of the regulations 31 CFR 1010.311 and 1021.311 is reflected in the burden for the form.)
Estimated Recordkeeping and Reporting Burden:40 minutes.
Estimated number of respondents:82,255 (includes depository institutions, broker-dealers, future commission merchants, introducing brokers in commodities, money services businesses, and mutual funds).
Estimated Total Annual Responses:14,111,600.7
7Numbers are based on actual 2012 filings as reported to the IRS Enterprise Computing Center-Detroit (EEC-D) as of 09/30/2012. This number reflects the total projected number of filings for both the legacy CTR and CTRC and the FinCEN CTR.
Estimated Total Annual Reporting and Recordkeeping Burden:9,407,733 hours.
An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection of information displays a valid OMB control number. Records required to be retained under the BSA must be retained for five years.
Request for Comments:
Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval. All comments will become a matter of public record. Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency's estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance and purchase of services to provide information.
Dated: November 16, 2012.
Jennifer Shasky Calvery,
Director, Financial Crimes Enforcement Network.