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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
1506-0004
ICR Reference No:
201008-1506-002
Status:
Historical Active
Previous ICR Reference No:
200912-1506-001
Agency/Subagency:
TREAS/FINCEN
Agency Tracking No:
Title:
Currency Transaction Reports
Type of Information Collection:
No material or nonsubstantive change to a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
11/16/2010
Retrieve Notice of Action (NOA)
Date Received in OIRA:
09/14/2010
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
03/31/2013
03/31/2013
03/31/2013
Responses
13,710,000
0
13,710,000
Time Burden (Hours)
9,140,000
0
9,140,000
Cost Burden (Dollars)
0
0
0
Abstract:
Financial institutions file form 104 for currency transaction in excess of $10,000 a day pursuant to 31 USC 5313(a) and 31 CFR 103.22(a)(b). The form is used by criminal investigators, and taxation and regulatory enforcement authorities, during the course of investigations involving financial crimes. This action updates this ICR to reflect the addition of 31 CFR 103.27(a)(3), 31 CFR 103.27(d), and 31 CFR 103.28 as being renewed as part of this control number. The three additional references constitute three hours to the existing burden. This action is the result of the reallocation of burden from 1506-0009 to 1506-0004
Authorizing Statute(s):
US Code:
31 USC 5313(a)
Name of Law: Money & Finance/Monetary Transactions
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
74 FR 50999
10/02/2009
30-day Notice:
Federal Register Citation:
Citation Date:
74 FR 67007
12/17/2009
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Currency Transaction Reports
FinCEN Form 104
Currency Transaction Report
ICR Summary of Burden
Total Approved
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
13,710,000
13,710,000
0
0
0
0
Annual Time Burden (Hours)
9,140,000
9,140,000
0
0
0
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:
FinCEN received one comment on this ICR. After review, FinCEN agrees that the forms burden should be increased. Form completion was increased by 10 minutes and the recordkeeping and reporting time was increased by 10 minutes for a total burden per filing of 40 minutes. Based on historical filings, the time allocation reflects a more reliable figure. Also, the estimation of the number of CTRs filed annually has decreased based on the past year.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
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?
Uncollected
Agency Contact:
Russell Stephenson 202 354-6012
Common Form ICR:
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:
(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:
09/14/2010
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