2016 US Code
Title 31 - Money and Finance
Subtitle IV - Money
Chapter 53 - Monetary Transactions
Subchapter II - Records and Reports on Monetary Instruments Transactions
Sec. 5315 - Reports on foreign currency transactions
| 31 U.S.C. § 5315 (2016) | |||||||||
| §5315. Reports on foreign currency transactions | |||||||||
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(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)) 1 and section 8 of the Bretton Woods Agreement Act (22 U.S.C. 286f). (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 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 submitted at the time and in the way, with reasonable exceptions and classifications, necessary to carry out this section. |
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(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 997.) |
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In subsection (a)(3), the words "it is desirable to emphasize this objective . . . existing legal" are omitted as unnecessary. In subsection (c), the words "(hereafter referred to as the 'Secretary')" are omitted because of the restatement. The words "under the authority of this subchapter and any other authority conferred by law" are omitted as surplus. The word "prescribe" is substituted for "supplement" for clarity. The words "the statement of findings under" and "the submission of" are omitted as surplus. The words "Reports required under this subchapter shall cover foreign currency transactions" are omitted because of the restatement. The words "such terms are" and "the policy of" are omitted as surplus. REFERENCES IN TEXTSection 5(b) of the Trading With the Enemy Act (50 App. U.S.C. 5(b)), referred to in subsec. (a)(3), is section 5(b) of act Oct. 6, 1917, ch. 106, 40 Stat. 415, which was editorially transferred and is now classified to section 4305(b) of Title 50, War and National Defense. |
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1 See References in Text note below. |
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| United States Code, 2012 Edition, Supplement 4, Title 31 - MONEY AND FINANCE | |||||||||
| Bills and Statutes | |||||||||
| United States Code | |||||||||
| Y 1.2/5: | |||||||||
| Title 31 - MONEY AND FINANCE SUBTITLE IV - MONEY CHAPTER 53 - MONETARY TRANSACTIONS SUBCHAPTER II - RECORDS AND REPORTS ON MONETARY INSTRUMENTS TRANSACTIONS Sec. 5315 - Reports on foreign currency transactions |
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| section 5315 | |||||||||
| 2016 | |||||||||
| January 6, 2017 | |||||||||
| Yes | |||||||||
| standard | |||||||||
| 40 Stat. 415 87 Stat. 353 96 Stat. 997 |
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| Public Law 93-110, Public Law 97-258 |
