96 STAT. 996 1 USC 1. (4) "person", in addition to its meaning under section 1 of title 1, includes a trustee, a representative of an estate and, when the Secretary prescribes, a governmental entity. (5) "United States" means the States of the United States, the District of Columbia, and, when the Secretary prescribes by regulation, the Commonwealth of Puerto Rico, a territory or possession of the United States, or a military or diplomatic establishment. (b) In this subchapter (1) "domestic financial agency" and "domestic financial institution" apply to an action in the United States of a financial agency or institution. (2) "foreign financial agency" and "foreign financial institution" apply to an action outside the United States of a financial agency or institution. § 5313. Reports on domestic coins and currency transactions (a) When a domestic financial institution is involved in a transaction for the payment, receipt, or transfer of United States coins or currency (or other monetary instruments the Secretary of the Treasury prescribes), in an amount, denomination, or amount and denomination, or under circumstances the Secretary prescribes by regulation, the institution and any other participant in the transaction the Secretary may prescribe shall file a report on the transaction at the time and in the way the Secretary prescribes. A participant acting for another person shall make the report as the agent or bailee of the person and identify the person for whom the transaction is being made. (b) The Secretary may designate a domestic financial institution as an agent of the United States Government to receive a report under this section. However, the Secretary may designate a domestic financial institution that is not insured, chartered, examined, or registered as a domestic financial institution only if the institution consents. The Secretary may suspend or revoke a designation for a violation of this subchapter or a regulation under this subchapter (except a violation of section 5315 of this title or a regulation prescribed under section 5315), section 411 of the National Housing Act (12 U.S.C. 1730d), or section 21 of the Federal Deposit Insurance Act (12 U.S.C. 1829b). (cX1) A person (except a domestic financial institution designated under subsection (b) of this section) required to file a report under this section shall file the report (A) with the institution involved in the transaction if the institution was designated; (B) in the way the Secretary prescribes when the institution was not designated; or (C) with the Secretary. (2) The Secretary shall prescribe (A) the filing procedure for a domestic financial institution designated under subsection (b) of this section; and (B) the way the institution shall submit reports filed with it. PUBLIC LAW 97-258-SEPT. 13, 1982 · § 5314. Records and reports on foreign financial agency transactions (a) Considering the need to avoid impeding or controlling the export or import of monetary instruments and the need to avoid burdening unreasonably a person making a transaction with a. foreign financial agency, the Secretary of the Treasury shall require a resident or citizen of the United States or a person in, and doing' business in, the United States, to keep records, file reports, or keep records and file reports, when the resident, citizen, or person makes a transaction or maintains a relation for any person with a foreign financial agency. The records and reports shall contain the following information in the way and to the extent the Secretary prescribes: (1) the identity and address of participants in a transaction or relationship. (2) the legal capacity in which a participant is acting. (4) a description of the transaction. (b) The Secretary may prescribe (1) a reasonable classification of persons subject to or exempt from a requirement under this section or a regulation under this section; (2) a foreign country to which a requirement or a regulation under this section applies if the Secretary decides applying the requirement or regulation to all foreign countries is unnecessary or undesirable; (3) the magnitude of transactions subject to a requirement or a regulation under this section; (4) the kind of transaction subject to or exempt from a requirement or a regulation under this section; and (5) other matters the Secretary considers necessary to carry out this section or a regulation under this section. (c) A person shall be required to disclose a record required to be kept under this section or under a regulation under this section only as required by law. § 5315. Reports on foreign currency transactions (a) Congress finds that- (1) moving mobile capital can have a significant impact on the proper functioning of the international monetary system; (2) it is important to have the most feasible current and complete information on the kind and source of capital flows, including transactions by large United States businesses and their foreign affiliates; and (3) additional authority should be provided to collect information on capital flows under section 5(b) of the Trading With the Enemy Act (50 App. U.S.C. 5(b)) and section 8 of the Bretton Woods Agreement Act (22 U.S.C. 286f). 96 STAT. 997 (b) In this section, "United States person" and "foreign person controlled by a United States person" have the same meanings given those terms in section 7(f)(2) (A) and (C), respectively, of the Securities and Exchange Act of 1934 (15 U.S.C. 78g(f(2)(A), (C)). (c) The Secretary of the Treasury shall prescribe regulations Regulations. consistent with subsection (a) of this section requiring reports on foreign currency transactions conducted by a United States person or a foreign person controlled by a United States person. The regulations shall require that a report contain information and be 96 STÁT. 998 PUBLIC LAW 97-258-SEPT. 13, 1982 submitted at the time and in the way, with reasonable exceptions and classifications, necessary to carry out this section. § 5316. Reports on exporting and importing monetary instruments (a) Except as provided in subsection (c) of this section, a person.or an agent or bailee of the person shall file a report under subsection (b) of this section when the person, agent, or bailee knowingly(1) transports or has transported monetary instruments of more than $5,000 at one time (A) from a place in the United States to or through a place outside the United States; or (B) to a place in the United States from or through a place outside the United States; or (2) receives monetary instruments of more than $5,000 at one time transported into the United States from or through a place outside the United States. (b) A report under this section shall be filed at the time and place the Secretary of the Treasury prescribes. The report shall contain the following information to the extent the Secretary prescribes: (1) the legal capacity in which the person filing the report is acting. (2) the origin, destination, and route of the monetary instruments. (3) when the monetary instruments are not legally and beneficially owned by the person transporting the instruments, or if the person transporting the instruments personally is not going to use them, the identity of the person that gave the instruments to the person transporting them, the identity of the person who is to receive them, or both. (4) the amount and kind of monetary instruments transported. (5) additional information. (c) This section or a regulation under this section does not apply to a common carrier of passengers when a passenger possesses a monetary instrument, or to a common carrier of goods if the shipper does not declare the instrument. § 5317. Search and forfeiture of monetary instruments (a) The Secretary of the Treasury may apply to a court of competent jurisdiction for a search warrant when the Secretary_reasonably believes a monetary instrument is being transported and a report on the instrument under section 5316 of this title has not been filed or contains a material omission or misstatement. The Secretary shall include a statement of information in support of the warrant. On a showing of probable cause, the court may issue a search warrant for a designated person or a designated or described place or physical object. This subsection does not affect the authority of the Secretary under another law. (b) A monetary instrument being transported may be seized and forfeited to the United States Government when a report on the instrument under section 5316 of this title has not been filed or contains a material omission or misstatement. A monetary instrument transported by mail or a common carrier, messenger, or bailee is being transported under this subsection from the time the instrument is delivered to the United States Postal Service, common carrier, messenger, or bailee through the time it is delivered to the addressee, intended recipient, or agent of the addressee or intended PUBLIC LAW 97-258-SEPT. 13, 1982 recipient without being transported further in, or taken out of, the United States. § 5318. Compliance and exemptions The Secretary of the Treasury may (except under section 5315 of this title and regulations prescribed under section 5315)— (1) delegate duties and powers under this subchapter to an appropriate supervising agency; (2) require a class of domestic financial institutions to maintain appropriate procedures to ensure compliance with this subchapter and regulations prescribed under this subchapter; and (3) prescribe an appropriate exemption from a requirement under this subchapter and regulations prescribed under this subchapter. The Secretary may revoke an exemption by actually or constructively notifying the parties affected. A revocation is effective during judicial review. § 5319. Availability of reports The Secretary of the Treasury shall make information in a report filed under section 5313, 5314, or 5316 of this title available to an agency on request of the head of the agency. The report shall be available for a purpose consistent with those sections or a regulation prescribed under those sections. However, a report and records of reports are exempt from disclosure under section 552 of title 5. § 5320. Injunctions When the Secretary of the Treasury believes a person has violated, is violating, or will violate this subchapter or a regulation prescribed or order issued under this subchapter, the Secretary may bring a civil action in the appropriate district court of the United States or appropriate United States court of a territory or possession of the United States to enjoin the violation or to enforce compliance with the subchapter, regulation, or order. An injunction or temporary restraining order shall be issued without bond. § 5321. Civil penalties (aX1) A domestic financial institution, and a partner, director, officer, or employee of a domestic financial institution, willfully violating this subchapter or a regulation prescribed under this subchapter (except section 5315 of this title or a regulation prescribed under section 5315) is liable to the United States Government for a civil penalty of not more than $1,000. For a violation of section 5318(2) of this title or a regulation prescribed under section 5318(2), a separate violation occurs for each day the violation continues and at each office, branch, or place of business at which a violation occurs or continues. (2) The Secretary of the Treasury may impose an additional civil penalty on a person not filing a report, or filing a report containing a material omission or misstatement, under section 5316 of this title or a regulation prescribed under section 5316. A civil penalty under this paragraph may not be more than the amount of the monetary instrument for which the report was required. A civil penalty under this paragraph is reduced by an amount forfeited under section 5317(b) of this title. (3) A person not filing a report under a regulation prescribed under section 5315 of this title or not complying with an injunction 96 STAT. 999 5 USC 552. 96 STAT. 1000 PUBLIC LAW 97-258-SEPT. 13, 1982 under section 5320 of this title enjoining a violation of, or enforcing compliance with, section 5315 or a regulation prescribed under section 5315, is liable to the Government for a civil penalty of not more than $10,000. (b) The Secretary may bring a civil action to recover a civil penalty under subsection (a)(1) or (2) of this section that has not been paid. (c) The Secretary may remit any part of a forfeiture under section 5317(b) of this title or civil penalty under subsection (a)(2) of this section. § 5322. Criminal penalties (a) A person willfully violating this subchapter or a regulation prescribed under this subchapter (except section 5315 of this title or a regulation prescribed under section 5315) shall be fined not more than $1,000, imprisoned for not more than one year, or both. (b) A person willfully violating this subchapter or a regulation prescribed under this subchapter (except section 5315 of this title or a regulation prescribed under section 5315), while violating another law of the United States or as part of a pattern of illegal activity involving transactions of more than $100,000 in a 12-month period, shall be fined not more than $500,000, imprisoned for not more than 5 years, or both. (c) For a violation of section 5318(2) of this title or a regulation prescribed under section 5318(2), a separate violation occurs for each day the violation continues and at each office, branch, or place of business at which a violation occurs or continues. |