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TREAS/FINCEN RIN: 1506-AB13 Publication ID: Spring 2014 
Title: Amendment to the Bank Secrecy Act Regulations--Definition of "Monetary Instruments" 
Abstract: FinCEN is proposing to amend the regulations issued under 31 U.S.C. 5316, namely the definition of "monetary instrument" at 31 CFR 1010.100(dd) and the international transport of currency and monetary instrument reporting requirement at 31 CFR 1010.340, to include tangible prepaid access devices. The current regulations require that a form be filed reporting the international transportation, mail, or shipment of currency or other monetary instruments in an aggregate amount that exceeds $10,000. The term "monetary instrument" is defined in the BSA to include currency and a variety of bearer negotiable instruments, securities, and similar items, but does not specifically include any types of prepaid access devices. Nevertheless, FinCEN has regulatory authority to expand the definition of monetary instruments to include items deemed to be "similar materials" to coins and currency of a foreign country, travelers' checks, bearer negotiable instruments, bearer investment securities, bearer securities, and stock on which title is passed on delivery. 
Agency: Department of the Treasury(TREAS)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 31 CFR 1010.340 
Legal Authority: 31 USC 5316 
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  10/17/2011  76 FR 64049 
NPRM Comment Period End  12/16/2011   
Final Action  10/00/2014   
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
International Impacts: This regulatory action will be likely to have international trade and investment effects, or otherwise be of international interest.
RIN Data Printed in the FR: No 
Agency Contact:
Elizabeth Baltierra
Regulatory Policy Project Officer
Department of the Treasury
Financial Crimes Enforcement Network
P. O. Box 39,
Vienna, VA 22183
Phone:703 905-5132
Email: elizabeth.baltierra@fincen.gov

 
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