View Information Collection Request (ICR) Package

OMB Control No: 3133-0108	ICR Reference No: 201308-3133-006
Status: Historical Active	Previous ICR Reference No: 200610-3133-002
Agency/Subagency: NCUA	Agency Tracking No:
Title: Monitoring Bank Secrecy Act Compliance
Type of Information Collection: Reinstatement without change of a previously approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 12/17/2013
	Date Received in OIRA: 10/28/2013
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2016	36 Months From Approved
Responses	6,753	0	0
Time Burden (Hours)	108,048	0	0
Cost Burden (Dollars)	0	0	0

Abstract: The collection is needed to allow NCUA to determine whether credit unions have established a program reasonably designed to assure and monitor their compliance with currency record keeping and reporting requirements established by Federal statute and Department of Treasury Regulation.

Authorizing Statute(s): US Code: 31 USC 5311-5330 Name of Law: Bank Secrecy Act

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:
	78 FR 43233	07/19/2013
30-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 53168	08/28/2013
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
Monitoring Bank Secrecy Act Compliance

ICR Summary of Burden

	Total Approved	Change Due to Agency Discretion	Change Due to Potential Violation of the PRA
Annual Number of Responses	6,753	-1,942	8,695
Annual Time Burden (Hours)	108,048	81,963	26,085
Annual Cost Burden (Dollars)	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: There are fewer federally insured credit unions than there were when the last approval for a collection of information was made. Therefore, the number of respondents has been adjusted to reflect this decline. Credit unions continue to adjust their membership base, the products and services they offer and the geographical locations they service, thus increasing the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Risk to the credit unions. Advances in the technological aspects of mobile banking and electronic payments have also increased this risk. Due to the increased BSA/AML Risk to the credit unions, it is expected that the credit unions would revisit and revise their BSA/AML compliance programs accordingly to address these added risks. The amount of time it takes the credit unions to review and assess the existing program as well as any additional risk related to expanded products, services, membership, etc. has been revised to more accurately reflect the burden to the credit unions. It is noted that credit unions vary in size, complexity, and BSA risk, thus the 16 hours is an average estimate of the amount of the burden.

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: Judy Graham 703 518-6392

View ICR - OIRA Conclusion