Notice of Proposed Rulemaking: Definitions of Transmittal of Funds and Funds Transfer

Docket ID: FINCEN-2012-0005
Agency: Financial Crimes Enforcement Network (FINCEN)
Parent Agency: Department of the Treasury (TREAS)
FinCEN, a bureau of the Department of the Treasury and the Board of Governors of the Federal Reserve System are proposing amendments to the regulatory definitions of "funds transfer" and "transmittal of funds" under the regulations implementing the Bank Secrecy Act. The proposed changes are intended to maintain the current scope of the definitions and are necessary in light of changes to the Electronic Fund Transfer Act that will result in certain currently covered transactions being excluded from Bank Secrecy Act requirements.
RIN: 1506-AB20
Impacts and Effects: None
CFR Citation: 31 CFR 1010.410(e) and (f),31 CFR 1020.410(a)
Priority: Substantive, Nonsignificant
UA and Regulatory Plan Information open glossary dialog  
Publication Period: Spring 2014
Agenda Stage of Rulemaking: Completed Action
Major Rule: No
Legal Authorities: 31 USC 5330
Legal Deadlines: None
Government Levels Affected: No
Federalism Implications: No
Unfunded Mandates: No
Requires Regulatory Flexibility Analysis: No
Small Entities Affected: No
International Impacts: No
Energy Effects: No
Included in Regulatory Plan: No
ActionDateFR Citation
NPRM12/06/201277 FR 72783
NPRM Comment Period End01/25/2013
Final Action12/04/201378 FR72813
Docket Details open glossary dialog  
Related RINs: None
Related Dockets: None
Organization: FINCEN
Keyword(s): transmittal fo funds, Funds Transfer, Bank Secrecy Act, FinCEN
Type: Rulemaking

Primary Documents

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Comment Period Closed
Jan 25, 2013 11:59 PM ET
Proposed Rule
Posted: 12/06/2012
ID: FINCEN-2012-0005-0001
Comment Period Closed
Posted: 12/04/2013
ID: FINCEN-2012-0005-0010

Supporting Documents

No documents available.


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Comments Received*
Regulatory Timeline
Pre Rule
Current Stage
Proposed Rule
Current Stage
Final Rule
Current Stage
Current Stage
Agency Contact
Horacio Madinaveitia
Compliance Specialist
P.O. Box 39, Vienna, VA 22183
Vienna, VA 22183
*This count refers to the total comment/submissions received on this docket, as of 11:59 PM yesterday. Note: Agencies review all submissions, however some agencies may choose to redact, or withhold, certain submissions (or portions thereof) such as those containing private or proprietary information, inappropriate language, or duplicate/near duplicate examples of a mass-mail campaign. This can result in discrepancies between this count and those displayed when conducting searches on the Public Submission document type. For specific information about an agency’s public submission policy, refer to its website or the Federal Register document.