What US Bank Secrecy Act - 31 USC 5331 Reports Relating to Coins and Currency Received in Nonfinancial Trade or Business requires
31 USC 5331 titled 'Reports relating to coins and currency received in nonfinancial trade or business' is the Bank Secrecy Act provision requiring nonfinancial trades or businesses to report large cash receipts to the Secretary of the Treasury (via FinCEN). The statute applies when any person engaged in a trade or business (other than a financial institution required to file a report under 31 USC 5313), in the course of such trade or business, receives more than $10,000 in coins or currency in 1 transaction (or 2 or more related transactions). 'Coins and currency' includes any monetary instrument (whether or not in bearer form) with a face amount of not more than $10,000, subject to specific exceptions for certain checks. Section 5331 also applies to any person who is required to file a report under section 6050I(g) of the Internal Revenue Code of 1986. Reports must be filed 'in such form as the Secretary may prescribe' and must contain the information specified by Treasury regulations, including the identity of the person from whom the coins or currency were received, the identity of the person on whose behalf the transaction was conducted, a description of the transaction, and the amount of coins or currency received. The statute exempts amounts received by financial institutions required to file a report under 31 USC 5313 and transactions occurring entirely outside the United States. Implementing regulations are issued by FinCEN in 31 CFR Chapter X. Section 5331 is one of the core BSA reporting pillars alongside the currency transaction report under 31 USC 5313 and the suspicious activity report regime.
Pillar: Financial Crime, AML & Sanctions · Authority: US Congress / US Department of the Treasury / Financial Crimes Enforcement Network (FinCEN) · Version: 1.0.0 · Last updated:
Primary source: https://www.law.cornell.edu/uscode/text/31/5331
SHA-256 integrity: faf63dbe632cfc784ed26166c14769d671b93207d77e04b3bb89cce76cb0a0e5
Primary Citations — 9 traced to source
- 31 USC 5331 - Reports relating to coins and currency received in nonfinancial trade or business - statutory text at https://www.law.cornell.edu/uscode/text/31/5331
- 31 USC 5331(a) - $10,000 threshold for coins or currency received in 1 transaction or 2 or more related transactions in nonfinancial trade or business
+ 7 more citations (full bibliography, deterministic workflow, actionable schema and crosswalks) included in the vault unlock — $0.01 via Skyfire / L402 / Direct Base USDC.
Access
- Discovery (free): /api/v1/nodes/us-31-usc-5331-nonfinancial-trade-business-currency-reports.json — 6-field metadata
- Vault (full node): /api/v1/vault/nodes/us-31-usc-5331-nonfinancial-trade-business-currency-reports.json — full 13-key payload, $0.01 USDC (L402/Skyfire/Direct Base)
- Canonical URL: https://bidda.com/intelligence/us-31-usc-5331-nonfinancial-trade-business-currency-reports
- Back to registry: Browse all 10,090 compliance nodes