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Federal forms, ICRs, and supporting documents

Information Collection Request

Transactions of Exempt Persons Regulations, and FinCEN Form 110-Designation of Exempt Persons (DOEP) Report

ICR 202410-1506-001 · OMB 1506-0012 · Received in OIRA

Forms and Documents
DocumentTypeStatusAvailability
Form FinCEN 110 Transactions of Exempt Persons Regulations, and FinCEN Form 110-Designation of Exempt Persons (DOEP) Report Form and Instruction Modified Repair queued
1506-0012-DOEP Supporting Statement 10_28_2024_FINAL.docx Supporting Statement A Uploaded 2024-10-28 Repair queued
FinCENDOEPElectronicFilingRequirements.pdf Supplementary Document Uploaded 2017-08-15 Missing upstream
IC Document Collections
IC IDCollectionTypeStatusForm
15300 Transactions of Exempt Persons Regulations, and FinCEN Form 110-Designation of Exempt Persons (DOEP) Report Form and Instruction Modified
ICR Details
1506-0012 202410-1506-001
Received in OIRA 202107-1506-005
TREAS/FINCEN
Transactions of Exempt Persons Regulations, and FinCEN Form 110-Designation of Exempt Persons (DOEP) Report
Extension without change of a currently approved collection   No
Regular 10/30/2024
  Requested Previously Approved
36 Months From Approved 10/31/2024
15,105 18,141
15,105 18,141
0 0
Under 31 U.S.C. 5313, the Secretary is authorized to require financial institutions to report certain currency transactions. 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. The Money Laundering Suppression Act of 1994 amended the BSA to create certain mandatory exemptions applicable to banks from the requirement for financial institutions to file currency transaction reports (CTRs), and to give the Secretary authority to create additional such exemptions. Regulations implementing this exemption authority, including by requiring the collection of information on FinCEN Form 110, Designation of Exempt Person (DOEP Report), are found at 31 CFR 1020.315.
US Code: 31 USC 5313 Name of Law: Bank Secrecy Act
  
None
Not associated with rulemaking
  89 FR 65012 08/08/2024
89 FR 86412 10/30/2024
Yes
  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 15,105 18,141 0 0 -3,036 0
Annual Time Burden (Hours) 15,105 18,141 0 0 -3,036 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
The estimated total annual burden decreased by 3,036 hours from 18,141 hours in 2020 to 15,105 hours in 2024, although the annual hourly burden estimates per regulatory requirement remained the same as in 2020 (one hour per report). The reduction in burden is a result of a decrease in the number of reports filed from 18,141 in 2019 to 15,105 in 2023. Additionally, there was a reduction in the number of respondents since the last approval from 11,161 banks in 2019 to 10,062 in 2023.
$1,510
No
    Yes
    Yes
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.
10/30/2024