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TREAS/FINCEN RIN: 1506-AB40 Publication ID: Fall 2019 
Title: Reports of Foreign Financial Accounts Civil Penalties 
Abstract:

FinCEN, a bureau of the Department of the Treasury (Treasury), is amending 31 CFR 1010.820 to withdraw the reports of foreign financial accounts (FBAR) civil penalties language at 31 CFR 1010.820(g), which was made obsolete with the enactment of the American Jobs Creation Act of 2004. The American Jobs Creation Act of 2004 amended 31 U.S.C. 5321(a)(5) to allow for a greater maximum penalty for a willful violation of 31 U.S.C. 5314 than was previously authorized.

 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
EO 13771 Designation: Fully or Partially Exempt 
CFR Citation: 31 CFR 1010.820(g)   
Legal Authority: 31 U.S.C. 5321(a)(5)    31 U.S.C. 5314   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Final Action  11/00/2019 
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