2013 US Code
Title 31 - Money and Finance
Subtitle IV - MONEY (§§ 5101 - 5367)
Chapter 53 - MONETARY TRANSACTIONS (§§ 5301 - 5367)
Subchapter II - RECORDS AND REPORTS ON MONETARY INSTRUMENTS TRANSACTIONS (§§ 5311 - 5332)
Section 5321 - Civil penalties
Publication Title | United States Code, 2012 Edition, Supplement 1, Title 31 - MONEY AND FINANCE |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 31 - MONEY AND FINANCE SUBTITLE IV - MONEY CHAPTER 53 - MONETARY TRANSACTIONS SUBCHAPTER II - RECORDS AND REPORTS ON MONETARY INSTRUMENTS TRANSACTIONS Sec. 5321 - Civil penalties |
Contains | section 5321 |
Date | 2013 |
Laws in Effect as of Date | January 16, 2014 |
Positive Law | Yes |
Disposition | standard |
Source Credit | Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 999; Pub. L. 98-473, title II, §901(a), Oct. 12, 1984, 98 Stat. 2135; Pub. L. 99-570, title I, §§1356(c)(1), 1357(a)-(f), (h), Oct. 27, 1986, 100 Stat. 3207-24-3207-26; Pub. L. 100-690, title VI, §6185(g)(2), Nov. 18, 1988, 102 Stat. 4357; Pub. L. 102-550, title XV, §§1511(b), 1525(b), 1535(a)(2), 1561(a), Oct. 28, 1992, 106 Stat. 4057, 4065, 4066, 4071; Pub. L. 103-322, title XXXIII, §330017(a)(1), Sept. 13, 1994, 108 Stat. 2149; Pub. L. 103-325, title IV, §§406, 411(b), 413(a)(1), Sept. 23, 1994, 108 Stat. 2247, 2253, 2254; Pub. L. 104-208, div. A, title II, §2223(3), Sept. 30, 1996, 110 Stat. 3009-415; Pub. L. 107-56, title III, §§353(a), 363(a), 365(c)(2)(B)(i), Oct. 26, 2001, 115 Stat. 322, 332, 335; Pub. L. 108-357, title VIII, §821(a), Oct. 22, 2004, 118 Stat. 1586. |
Statutes at Large References | 84 Stat. 1120 87 Stat. 353 96 Stat. 999 98 Stat. 2135 100 Stat. 3207-24, 3207-34 102 Stat. 4357 106 Stat. 4057, 4072 108 Stat. 2149, 2247 110 Stat. 3009-415 115 Stat. 322 118 Stat. 1586 |
Public Law References | Public Law 91-508, Public Law 93-110, Public Law 97-258, Public Law 98-473, Public Law 99-570, Public Law 100-690, Public Law 102-550, Public Law 103-322, Public Law 103-325, Public Law 104-208, Public Law 107-56, Public Law 108-357 |
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(a)(1) A domestic financial institution or nonfinancial trade or business, and a partner, director, officer, or employee of a domestic financial institution or nonfinancial trade or business, willfully violating this subchapter or a regulation prescribed or order issued under this subchapter (except sections 5314 and 5315 of this title or a regulation prescribed under sections 5314 and 5315), or willfully violating a regulation prescribed under section 21 of the Federal Deposit Insurance Act or section 123 of Public Law 91–508, is liable to the United States Government for a civil penalty of not more than the greater of the amount (not to exceed $100,000) involved in the transaction (if any) or $25,000. For a violation of section 5318(a)(2) of this title or a regulation prescribed under section 5318(a)(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 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.
(4)
(A)
(B)
(C)
(5)
(A)
(B)
(i)
(ii)
(I) such violation was due to reasonable cause, and
(II) the amount of the transaction or the balance in the account at the time of the transaction was properly reported.
(C)
(i) the maximum penalty under subparagraph (B)(i) shall be increased to the greater of—
(I) $100,000, or
(II) 50 percent of the amount determined under subparagraph (D), and
(ii) subparagraph (B)(ii) shall not apply.
(D)
(i) in the case of a violation involving a transaction, the amount of the transaction, or
(ii) in the case of a violation involving a failure to report the existence of an account or any identifying information required to be provided with respect to an account, the balance in the account at the time of the violation.
(6)
(A)
(B)
(7)
(b)
(1)
(2)
(A) the date the penalty was assessed; or
(B) the date any judgment becomes final in any criminal action under section 5322 in connection with the same transaction with respect to which the penalty is assessed.
(c) The Secretary may remit any part of a forfeiture under subsection (c) or (d) 1 of section 5317 of this title or civil penalty under subsection (a)(2) of this section.
(d)
(e)
(1)
(2)
(3)
(A)
(B)
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 999; Pub. L. 98–473, title II, §901(a), Oct. 12, 1984, 98 Stat. 2135; Pub. L. 99–570, title I, §§1356(c)(1), 1357(a)–(f), (h), Oct. 27, 1986, 100 Stat. 3207–24—3207–26; Pub. L. 100–690, title VI, §6185(g)(2), Nov. 18, 1988, 102 Stat. 4357; Pub. L. 102–550, title XV, §§1511(b), 1525(b), 1535(a)(2), 1561(a), Oct. 28, 1992, 106 Stat. 4057, 4065, 4066, 4071; Pub. L. 103–322, title XXXIII, §330017(a)(1), Sept. 13, 1994, 108 Stat. 2149; Pub. L. 103–325, title IV, §§406, 411(b), 413(a)(1), Sept. 23, 1994, 108 Stat. 2247, 2253, 2254; Pub. L. 104–208, div. A, title II, §2223(3), Sept. 30, 1996, 110 Stat. 3009–415; Pub. L. 107–56, title III, §§353(a), 363(a), 365(c)(2)(B)(i), Oct. 26, 2001, 115 Stat. 322, 332, 335; Pub. L. 108–357, title VIII, §821(a), Oct. 22, 2004, 118 Stat. 1586.)
Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
---|---|---|
5321(a)(1) | 31:1054(b)(last sentence related to civil penalties). | Oct. 26, 1970, Pub. L. 91–508, §§205(b)(last sentence related to civil penalties), 207, 233, 234, 84 Stat. 1120, 1123. |
31:1056(a). | ||
5321(a)(2) | 31:1103. | |
5321(a)(3) | 31:1143(a), (b)(words after last comma). | Sept. 21, 1973, Pub. L. 93–110, §203(a), (b)(words after last comma), 87 Stat. 353. |
5321(b) | 31:1056(b). | |
5321(c) | 31:1104. |
In subsection (a)(1), the words "or a regulation prescribed under this subchapter" are added because of the restatement. The words "(except section 5315 of this title or a regulation prescribed under section 5315)" are added because 31:1141–1143 was not enacted as a part of the Currency and Foreign Transactions Reporting Act that is restated in this subchapter. The words "is liable to the United States Government for" are substituted for "the Secretary may assess upon" in 31:1056(a) for consistency in the revised title and with other titles of the United States Code. The words "the purposes of both civil and criminal penalties for" in 31:1054(b)(last sentence)(related to civil penalties) are omitted, and the words "or a regulation prescribed under section 5318(2)" are added, because of the restatement. The words "the violation continues" are added for consistency in the revised title and with other titles of the Code. The word "separate" before "office" is omitted as surplus.
In subsection (a)(2), the word "impose" is substituted for "assess" for consistency in the revised title and with other titles of the Code. The word "additional" is substituted for 31:1103 (last sentence words before last comma) to eliminate unnecessary words. The words "or a regulation prescribed under section 5316" are added because of the restatement. The words "amount of this", "to be filed", and "actually" are omitted as surplus.
Subsection (a)(3) is substituted for 31:1143(a) and (b)(words after last comma) for clarity and consistency and because of the restatement.
In subsection (b), the words "in the discretion of", "in the name of the United States", and "of any person" are omitted as surplus.
In subsection (c), the words "in his discretion" and "upon such terms and conditions as he deems reasonable and just" are omitted as surplus. The word "civil" is added for clarity.
REFERENCES IN TEXTSections 3 and 21 of the Federal Deposit Insurance Act, referred to in subsecs. (a)(1) and (e)(1), are classified to sections 1813 and 1829b, respectively, of Title 12, Banks and Banking.
Section 123 of Public Law 91–508, referred to in subsec. (a)(1), is classified to section 1953 of Title 12, Banks and Banking.
AMENDMENTS2004—Subsec. (a)(5). Pub. L. 108–357 amended heading and text of par. (5) generally, inserting provisions changing the penalties for violating section 5314 of this title and providing a reasonable cause exception.
2001—Subsec. (a)(1). Pub. L. 107–56, §§353(a), 365(c)(2)(B)(i), inserted "or nonfinancial trade or business" after "financial institution" in two places, "or order issued" after "subchapter or a regulation prescribed", and ", or willfully violating a regulation prescribed under section 21 of the Federal Deposit Insurance Act or section 123 of Public Law 91–508," after "sections 5314 and 5315)".
Subsec. (a)(6). Pub. L. 107–56, §365(c)(2)(B)(i), inserted "or nonfinancial trade or business" after "financial institution" wherever appearing.
Subsec. (a)(7). Pub. L. 107–56, §363(a), added par. (7).
1996—Subsec. (a)(7). Pub. L. 104–208 struck out par. (7) which read as follows:
"(7)
"(A)
"(B)
1994—Subsec. (a)(4)(A). Pub. L. 103–325, §411(b), struck out "willfully" before "violates".
Subsec. (a)(5)(A). Pub. L. 103–322, §330017(a)(1) and Pub. L. 103–325, §413(a)(1), amended subpar. (A) identically, inserting "any violation of" after "causing".
Subsec. (e). Pub. L. 103–325, §406, added subsec. (e).
1992—Subsec. (a)(4)(C). Pub. L. 102–550, §1525(b), struck out "under section 5317(d)" after "forfeiture to the United States".
Subsec. (a)(5)(A). Pub. L. 102–550, §1535(a)(2), inserted "or any person willfully causing" after "willfully violates".
Subsec. (a)(6). Pub. L. 102–550, §1561(a), amended par. (6) generally. Prior to amendment, par. (6) read as follows: "
Subsec. (a)(7). Pub. L. 102–550, §1511(b), added par. (7).
1988—Subsec. (a)(1). Pub. L. 100–690 inserted "(if any)" after "transaction".
1986—Subsec. (a)(1). Pub. L. 99–570, §§1356(c)(1), 1357(b), substituted "sections 5314 and 5315" for "section 5315" in two places, substituted "5318(a)(2)" for "5318(2)" in two places, and substituted "the greater of the amount (not to exceed $100,000) involved in the transaction or $25,000" for "$10,000".
Subsec. (a)(4). Pub. L. 99–570, §1357(a), added par. (4).
Subsec. (a)(5). Pub. L. 99–570, §1357(c), added par. (5).
Subsec. (a)(6). Pub. L. 99–570, §1357(d), added par. (6).
Subsec. (b). Pub. L. 99–570, §1357(e), amended subsec. (b) generally. Prior to amendment, subsec. (b) read as follows: "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."
Subsec. (c). Pub. L. 99–570, §1357(h), substituted "subsection (c) or (d) of section 5317" for "section 5317(b)".
Subsec. (d). Pub. L. 99–570, §1357(f), added subsec. (d).
1984—Subsec. (a)(1). Pub. L. 98–473 substituted "$10,000" for "$1,000".
EFFECTIVE DATE OF 2004 AMENDMENTPub. L. 108–357, title VIII, §821(b), Oct. 22, 2004, 118 Stat. 1586, provided that: "The amendment made by this section [amending this section] shall apply to violations occurring after the date of the enactment of this Act [Oct. 22, 2004]."
EFFECTIVE DATE OF 1992 AMENDMENTPub. L. 102–550, title XV, §1561(b), Oct. 28, 1992, 106 Stat. 4072, provided that: "The amendment made by subsection (a) [amending this section] shall apply with respect to violations committed after the date of the enactment of this Act [Oct. 28, 1992]."
EFFECTIVE DATE OF 1986 AMENDMENTAmendment by section 1357(a) of Pub. L. 99–570, applicable with respect to violations committed after the end of the 3-month period beginning Oct. 27, 1986, see section 1364(b) of Pub. L. 99–570, set out as a note under section 5317 of this title.
Pub. L. 99–570, title I, §1364(c), Oct. 27, 1986, 100 Stat. 3207–34, provided that: "The amendments made by section 1357 (other than subsection (a) of such section) [amending sections 5321 and 5322 of this title] shall apply with respect to violations committed after the date of the enactment of this Act [Oct. 27, 1986]."
1 So in original. Section 5317 does not contain a subsec. (d).
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