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TREAS/FINCEN | RIN: 1506-AB26 | Publication ID: Spring 2020 |
Title: Financial Crimes Enforcement Network: Amendment to the Bank Secrecy Act Regulations--Reports of Foreign Financial Accounts | |
Abstract:
FinCEN is proposing to amend the regulations implementing the Bank Secrecy Act (BSA) regarding reports of foreign financial accounts (FBAR). The proposed changes are intended to clarify which persons will be required to file reports of foreign financial accounts and what information is reportable. The proposed changes are intended to amend two provisions of the FBAR regulation: 1) signature or other authority; and 2) special rules. Treasury is considering whether the relevant statutory objectives can be achieved at a lower cost. |
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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 |
EO 13771 Designation: Deregulatory | |
CFR Citation: 31 CFR 1010.350 | |
Legal Authority: 12 U.S.C. 1829b 12 U.S.C. 1951 to 1959 31 U.S.C. 5311 to 5314 31 U.S.C. 5316 to 5332 |
Legal Deadline:
None |
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Timetable:
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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: 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 |