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TREAS/FINCEN | RIN: 1506-AB63 | Publication ID: Fall 2023 |
Title: ●Exempting a System of Records From Certain Provisions of the Privacy Act of 1974 | |
Abstract:
FinCEN intends to issue a final rule amending 31 CFR 1.36 to exempt a new system of records, entitled "FinCEN .004 - Beneficial Ownership Information System," from certain provisions of the Privacy Act of 1974. The Beneficial Ownership Information (BOI) System is being established to implement the BOI reporting and access requirements set out in the Bank Secrecy Act (BSA), as amended by the Corporate Transparency Act. The exemptions are intended to increase the value of the system for law enforcement purposes and to comply with the BSA’s prohibitions against unauthorized disclosure of certain information. |
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Agency: Department of the Treasury(TREAS) | Priority: Info./Admin./Other |
RIN Status: First time published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: Undetermined | Unfunded Mandates: No |
CFR Citation: 1 CFR 1.36 | |
Legal Authority: 5 U.S.C. 552a |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Federalism: No | |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: FinCEN Regulatory Support Section Department of the Treasury Financial Crimes Enforcement Network P.O. Box 39, Vienna, VA 22183 Phone:800 767-2825 Email: frc@fincen.gov |