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).
ICR 202102-1506-001 · OMB 1506-0018 · Received in OIRA
⚠️ Notice: This information collection may be outdated. More recent filings for OMB 1506-0018 can be found here:
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).
Extension without change of a currently approved collection
No
Regular
02/24/2021
Requested
Previously Approved
36 Months From Approved
02/28/2021
323,068
329,903
161,534
164,952
0
0
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.
US Code:
31 USC 5331
Name of Law: Money and Finance - Monetary Transactions
US Code:
26 USC 6050I
Name of Law: Internal Revenue Code
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).
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.
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).
1506-0018-Form 8300 Supporting Statement-2-12-2021 final.docx
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).