OMB.report

Federal forms, ICRs, and supporting documents

Information Collection Request

Reports of Certain Domestic Transactions (31 U.S.C. 5326, 31 CFR 1010.370, and 31 CFR 1010.410(d))

ICR 202102-1506-006 · OMB 1506-0056 · Received in OIRA

Forms and Documents
DocumentTypeStatusAvailability
1506-0056 GTOs Supporting Statement 02-24-2021.docx Supporting Statement A Uploaded 2021-02-24 Repair queued
IC Document Collections
IC IDCollectionTypeStatusForm
194394 Reports of Certain Domestic Transactions Modified
ICR Details
1506-0056 202102-1506-006
Received in OIRA 201709-1506-004
TREAS/FINCEN
Reports of Certain Domestic Transactions (31 U.S.C. 5326, 31 CFR 1010.370, and 31 CFR 1010.410(d))
Extension without change of a currently approved collection   No
Regular 02/24/2021
  Requested Previously Approved
36 Months From Approved 02/28/2021
13,719 19,200
5,716 8,000
0 0
Upon a finding that additional reporting or recordkeeping is necessary to carry out the purposes, or prevent the evasion, of the Bank Secrecy Act, Treasury may issue an order requiring financial institutions or groups of financial institutions in certain geographic locations to report certain transactions in prescribed amounts for a limited period of time (31 CFR 1010.360). Financial institutions subject to a geographic targeting order must maintain records for such period of time as the order requires but not more than 5 years (31 CFR 1010.410(d)). Although the burden is stated as an annual burden in accordance with the Paperwork Reduction Act, the estimated annual burden is not intended to indicate that there is a geographic targeting order in effect throughout a year or in each year.
US Code: 31 USC 5326 Name of Law: Money and Finance
  
None
Not associated with rulemaking
  85 FR 84104 12/23/2020
86 FR 11379 02/24/2021
Yes
1
IC Title Form No. Form Name
Reports of Certain Domestic Transactions
  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 13,719 19,200 0 0 -5,481 0
Annual Time Burden (Hours) 5,716 8,000 0 0 -2,284 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
The estimated total annual burden hours decreased by 2,284 hours from 8,000 hours in 2017 to 5,716 hours in 2020, although the annual hourly burden estimate per response remained the same as in 2017. The reduction in burden is solely a result of a decrease in the estimated annual responses from 19,200 in 2017 to 13,719, the average number of responses received between 2018 and 2020.
$1,372
No
    No
    No
No
No
No
No
FinCEN Resource Center 800 767-2825 [email protected]
  No
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.
02/24/2021