
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document affected by Public Law 107-56 Section 353(d)]
[Document affected by Public Law 107-56 Section 365(c)(2)(B)]
[CITE: 31USC5326]

 
                       TITLE 31--MONEY AND FINANCE
 
                           SUBTITLE IV--MONEY
 
                    CHAPTER 53--MONETARY TRANSACTIONS
 
 SUBCHAPTER II--RECORDS AND REPORTS ON MONETARY INSTRUMENTS TRANSACTIONS
 
Sec. 5326. Records of certain domestic coin and currency 
        transactions
        
    (a) In General.--If the Secretary of the Treasury finds, upon the 
Secretary's own initiative or at the request of an appropriate Federal 
or State law enforcement official, that reasonable grounds exist for 
concluding that additional recordkeeping and reporting requirements are 
necessary to carry out the purposes of this subtitle and prevent 
evasions thereof, the Secretary may issue an order requiring any 
domestic financial institution or group of domestic financial 
institutions in a geographic area--
        (1) to obtain such information as the Secretary may describe in 
    such order concerning--
            (A) any transaction in which such financial institution is 
        involved for the payment, receipt, or transfer of United States 
        coins or currency (or such other monetary instruments as the 
        Secretary may describe in such order) the total amounts or 
        denominations of which are equal to or greater than an amount 
        which the Secretary may prescribe; and
            (B) any other person participating in such transaction;

        (2) to maintain a record of such information for such period of 
    time as the Secretary may require; and
        (3) to file a report with respect to any transaction described 
    in paragraph (1)(A) in the manner and to the extent specified in the 
    order.

    (b) Authority To Order Depository Institutions To Obtain Reports 
From Customers.--
        (1) In general.--The Secretary of the Treasury may, by 
    regulation or order, require any depository institution (as defined 
    in section 3(c) of the Federal Deposit Insurance Act)--
            (A) to request any financial institution (other than a 
        depository institution) which engages in any reportable 
        transaction with the depository institution to provide the 
        depository institution with a copy of any report filed by the 
        financial institution under this subtitle with respect to any 
        prior transaction (between such financial institution and any 
        other person) which involved any portion of the coins or 
        currency (or monetary instruments) which are involved in the 
        reportable transaction with the depository institution; and
            (B) if no copy of any report described in subparagraph (A) 
        is received by the depository institution in connection with any 
        reportable transaction to which such subparagraph applies, to 
        submit (in addition to any report required under this subtitle 
        with respect to the reportable transaction) a written notice to 
        the Secretary that the financial institution failed to provide 
        any copy of such report.

        (2) Reportable transaction defined.--For purposes of this 
    subsection, the term ``reportable transaction'' means any 
    transaction involving coins or currency (or such other monetary 
    instruments as the Secretary may describe in the regulation or 
    order) the total amounts or denominations of which are equal to or 
    greater than an amount which the Secretary may prescribe.

    (c) Nondisclosure of Orders.--No financial institution or officer, 
director, employee or agent of a financial institution subject to an 
order under this section may disclose the existence of, or terms of, the 
order to any person except as prescribed by the Secretary.
    (d) Maximum Effective Period for Order.--No order issued under 
subsection (a) shall be effective for more than 60 days unless renewed 
pursuant to the requirements of subsection (a).

(Added Pub. L. 100-690, title VI, Sec. 6185(c), Nov. 18, 1988, 102 Stat. 
4355; amended Pub. L. 102-550, title XV, Secs. 1514, 1562, Oct. 28, 
1992, 106 Stat. 4058, 4072.)

                       References in Text

    Section 3(c) of the Federal Deposit Insurance Act, referred to in 
subsec. (b)(1), is classified to section 1813(c) of Title 12, Banks and 
Banking.


                               Amendments

    1992--Subsecs. (b) to (d). Pub. L. 102-550 added subsecs. (b) and 
(c) and redesignated former subsec. (b) as (d).
