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List of Non-substantive Technical Corrections
and Other Changes
Made in 31 CFR Chapter X

In the Chapter X NPRM, FinCEN proposed to make non-substantive technical corrections to the Bank Secrecy Act (BSA) implementing regulations. These corrections included updating titles and offices to represent organizational changes within the Treasury Department and FinCEN, changing mailing addresses, and updating names of federal government agencies.

The following provides a list of the non-substantive technical corrections and other changes being made as part of the transfer of FinCEN's regulations from 31 CFR Part 103 to 31 CFR Chapter X on March 1, 2011. This guide is provided for informational purposes only and does not replace or supersede FinCEN's regulations.

List of non-substantive technical corrections

  1. FinCEN has updated references to its Web site to http://www.fincen.gov
  2. The FinCEN mailing address has been changed to: P.O. Box 39, Vienna, Virginia, 22183.
  3. When used to refer to 31 CFR Part 103, the word ''part'' or the phrase ''Part 103''has been changed to "chapter" within 31 CFR Chapter X.
  4. The "Office of Enforcement" has been changed to "FinCEN."
  5. "Assistant Secretary (Enforcement)" and "Director, Office of Financial Enforcement" have been updated to "Director, FinCEN."
  6. "The Office of the Assistant Secretary (Enforcement)" has been changed to "Director of FinCEN or his designee."
  7. "Customs'' has been changed to "Customs and Border Protection."
  8. FinCEN has replaced "Commission" with "Commodity Futures Trading Commission" when the term is used to refer to the Commodity Futures Trading Commission. The term "Commission" is now only used to refer to the Securities and Exchange Commission.
  9. The definition of FinCEN has been updated to reflect that FinCEN is now a bureau rather than an office within the Treasury Department (i.e., 31 CFR 1010.100(s) versus the prior version 31 CFR 103.11(qq)).
  10. The name of the SAR form that brokers or dealers in securities and futures commission merchants and introducing brokers in commodities use to report suspicious transactions has been updated to reflect the correct name of the form.
  11. The references to Treasury Form TD F 90-22.53 have been changed to FinCEN Form 110.
  12. Cross references to 31 CFR 103.21 contained in 31 CFR 103.22(d)(9) were not updated when the bank SAR rules were moved from 31 CFR 103.21 to 31 CFR 103.18. In 31 CFR Chapter X, the references have been fixed so that they refer to the bank SAR rules (31 CFR 1020.320) rather than to the casino SAR rules (31 CFR 1021.320).
  13. Under 31 CFR Part 103, Sections 103.27(a)(1) and 103.55(c)(1) incorrectly indicated that the transactions in currency reporting requirements were contained in 31 CFR 103.22(a). Prior to 1998, the reporting obligations were contained in 31 CFR 103.22(a), but per the Amendments to the Bank Secrecy Act Regulations-Exemptions from the Requirement to Report Transactions in Currency-Phase II, 63 FR 50147 (1998), the filing obligations were moved to 31 CFR 103.22(b)(1) for financial institutions other than casinos and 31 CFR 103.22(b)(2) for casinos. The cross references to 31 CFR 103.22(a) in 31 CFR 103.27(a)(1) (see 31 CFR 1010.306(a)(1)) and 31 CFR 103.55(c)(1) (see 31 CFR 1010.970(c)(1)) have been corrected to include those Chapter X sections that contain transactions in currency transaction reporting obligations.
  14. All references to ''subpart'' in 31 CFR 103.38(a)-(d) were changed to "chapter" in 31 CFR 1010.430(a)-(d).
  15. The reference to ''subpart'' in the former 31 CFR 103.39 was changed to ''chapter'' in 31 CFR 1010.440.
  16. The word "Act" in 31 CFR 103.62 was changed to the "Bank Secrecy Act" in 31 CFR 1010.930.
  17. The cross reference contained in 31 CFR 103.140(a)(4)(ii) to ''paragraph (a)(3)(i) of this section'' is incorrect because there is no (a)(3)(i) in that section. Because this should have been a reference to 31 CFR 103.140(a)(4)(i), in 31 CFR Chapter X, the cross-reference properly refers to 31 CFR 1027.100(d)(1).
  18. 31 CFR 103.170(c) (see 31 CFR 1010.205(c)) has been corrected by revising the beginning of the first sentence to read as follows: "The exemptions described in paragraph (b) of this section * * *". In 31 CFR Part 103, there is a reference to the exemptions contained in ''paragraphs (a)(2) and (b)'' of 103.170. Paragraph (a)(2) was removed and reserved through Corrections published in the Federal Register (see 67 FR 68935 (Nov. 14, 2002)). Paragraph (b) is the only paragraph within this section that contains exemptions (see 67 FR at 67549 (Nov. 6, 2002)).
  19. Paragraph (a)(2) of 31 CFR 103.27, which provides that ''A report required by 103.22(g) shall be filed by the bank within 15 days after receiving a request for the report,'' is superfluous and has been deleted. Paragraph (g) of 31 CFR 103.22 was previously removed in 63 FR 50147.

Other Changes

Administrative rulings

Since publication of the Chapter X NPRM, FinCEN has further improved public access to its rulemaking and non-rulemaking documents. On November 17, 2009, FinCEN issued a Final Rule amending the procedures for publicly issuing an administrative ruling relating to the BSA.1 Since the effective date of that Final Rule (December 17, 2009), FinCEN posts administrative rulings with precedential value on its website, rather than publishing them in the Federal Register.2 FinCEN believes that posting administrative rulings with precedential value on FinCEN's website will make those rulings easier to find. All administrative rulings with precedential value will be available by mail to any person who makes a written request that specifically identifies the administrative ruling that is sought.

Disposition of Final Rules published since Chapter X NPRM

Subsequent to the publication of the Chapter X NPRM, FinCEN published several final rules, e.g., the Administrative Ruling Final Rule. All final rules that were published in the timeframe between the Chapter X NPRM and this Final Rule have been incorporated into FinCEN's regulations in the Chapter X format.

Mutual Fund definition

On April 14, 2010, FinCEN issued a final rule to include mutual funds within the general definition of "financial institution" in the BSA regulations.3 In that rule, FinCEN finalized two definitions of the term "mutual fund," one for the general definition section and the other for the anti-money laundering program rules for mutual funds.4 Although the two definitions contain minor textual differences, they were not intended to and do not have substantive distinctions. Similarly, there are textual differences between those two definitions and the definition of mutual fund used for the regulations implementing the Customer Identification Program requirements for mutual funds. Again, the textual differences were not intended to and do not signify substantive distinctions. Therefore, in order to be consistent and eliminate the textual anomalies within the various definitions for mutual fund that are currently within Part 103, the text of the definition of mutual fund from the Part 103 Customer Identification Programs for Mutual Funds (formerly 31 CFR 103.131(a)(5)) will now be used as the definition of mutual fund in Chapter X for all purposes (31 CFR 1010.100(gg)), except as provided in the regulatory text for the special measures provisions of Subpart F of the General Provisions Part (31 CFR 1010.651-670).

Disposition of 31 CFR Part 103 Appendices

As part of the transfer of 31 CFR Part 103 to 31 CFR Chapter X, FinCEN has determined that the appendices currently found in 31 CFR Part 103 will not need to be included in 31 CFR Chapter X. Instead, the material contained in those appendices that is still required by the regulations will be made available on FinCEN's website as of March 1, 2011, at http://www.fincen.gov/statutes_regs/chapter x/

The following provides the disposition of each appendix:

If your organization requires additional assistance or guidance regarding the transfer of FinCEN's regulations to 31 CFR Chapter X, please contact FinCEN's Regulatory Helpline at (800) 949-2732 ext. 6.


1 See 74 FR 59096 (November 17, 2009) (Final Rule for amending the Bank Secrecy Act Regulations Administrative Ruling System) (hereinafter, the "Administrative Ruling Final Rule").
2 See http://www.fincen.gov/statutes_regs/rulings/.
3 See 75 FR 19241 (April 14, 2010) (Final Rule defining Mutual Funds as Financial Institutions).
4 See Id.
5 See 74 FR 59096 (November 17, 2009) (Final Rule for amending the Bank Secrecy Act Regulations Administrative Ruling System) (hereinafter, the "Administrative Ruling Final Rule").
6 See 67 FR 60579, 60580 (September 26, 2002) (Final Rule for Special Information Sharing Procedures to Deter Money Laundering and Terrorist Activity).
7 See http://www.fincen.gov/statutes_regs/patriot/section314b.html.
8 See http://www.fincen.gov/statutes_regs/guidance/2000_2004.html.
9 Appendix A to Subpart I of 31 CFR Part 103 (proposed as Appendix B to Chapter X) is the Certification Regarding Correspondent Accounts.
Appendix B to Subpart I of 31 CFR Part 103 (proposed as Appendix C to Chapter X) is the Recertification Regarding Correspondent Accounts for Foreign Banks. These Appendices will not appear in Chapter X.





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