From the U.S. Code Online via GPO Access
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[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 31USC5312]
TITLE 31--MONEY AND FINANCE
SUBTITLE IV--MONEY
CHAPTER 53--MONETARY TRANSACTIONS
SUBCHAPTER II--RECORDS AND REPORTS ON MONETARY INSTRUMENTS TRANSACTIONS
Sec. 5312. Definitions and application
(a) In this subchapter--
(1) ``financial agency'' means a person acting for a person
(except for a country, a monetary or financial authority acting as a
monetary or financial authority, or an international financial
institution of which the United States Government is a member) as a
financial institution, bailee, depository trustee, or agent, or
acting in a similar way related to money, credit, securities, gold,
or a transaction in money, credit, securities, or gold.
(2) ``financial institution'' means--
(A) an insured bank (as defined in section 3(h) of the
Federal Deposit Insurance Act (12 U.S.C. 1813(h)));
(B) a commercial bank or trust company;
(C) a private banker;
(D) an agency or branch of a foreign bank in the United
States;
(E) any credit union;
(F) a thrift institution;
(G) a broker or dealer registered with the Securities and
Exchange Commission under the Securities Exchange Act of 1934
(15 U.S.C. 78a et seq.);
(H) a broker or dealer in securities or commodities;
(I) an investment banker or investment company;
(J) a currency exchange;
(K) an issuer, redeemer, or cashier of travelers' checks,
checks, money orders, or similar instruments;
(L) an operator of a credit card system;
(M) an insurance company;
(N) a dealer in precious metals, stones, or jewels;
(O) a pawnbroker;
(P) a loan or finance company;
(Q) a travel agency;
(R) a licensed sender of money or any other person who
engages as a business in the transmission of funds, including
any person who engages as a business in an informal money
transfer system or any network of people who engage as a
business in facilitating the transfer of money domestically or
internationally outside of the conventional financial
institutions system;
(S) a telegraph company;
(T) a business engaged in vehicle sales, including
automobile, airplane, and boat sales;
(U) persons involved in real estate closings and
settlements;
(V) the United States Postal Service;
(W) an agency of the United States Government or of a State
or local government carrying out a duty or power of a business
described in this paragraph;
(X) a casino, gambling casino, or gaming establishment with
an annual gaming revenue of more than $1,000,000 which--
(i) is licensed as a casino, gambling casino, or gaming
establishment under the laws of any State or any political
subdivision of any State; or
(ii) is an Indian gaming operation conducted under or
pursuant to the Indian Gaming Regulatory Act other than an
operation which is limited to class I gaming (as defined in
section 4(6) of such Act);
(Y) any business or agency which engages in any activity
which the Secretary of the Treasury determines, by regulation,
to be an activity which is similar to, related to, or a
substitute for any activity in which any business described in
this paragraph is authorized to engage; or
(Z) any other business designated by the Secretary whose
cash transactions have a high degree of usefulness in criminal,
tax, or regulatory matters.
(3) ``monetary instruments'' means--
(A) United States coins and currency;
(B) as the Secretary may prescribe by regulation, coins and
currency of a foreign country, travelers' checks, bearer
negotiable instruments, bearer investment securities, bearer
securities, stock on which title is passed on delivery, and
similar material; and
(C) as the Secretary of the Treasury shall provide by
regulation for purposes of sections 5333 \1\ and 5316, checks,
drafts, notes, money orders, and other similar instruments which
are drawn on or by a foreign financial institution and are not
in bearer form.
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\1\ So in original. This title does not contain a section 5333.
(4) Nonfinancial trade or business.--The term ``nonfinancial
trade or business'' means any trade or business other than a
financial institution that is subject to the reporting requirements
of section 5313 and regulations prescribed under such section.
(5) ``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.
(6) ``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, the Virgin Islands,
Guam, the Northern Mariana Islands, American Samoa, the Trust
Territory of the Pacific Islands, 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.
(c) Additional Definitions.--For purposes of this subchapter, the
following definitions shall apply:
(1) \2\ Certain institutions included in definition.--The term
``financial institution'' (as defined in subsection (a)) includes
the following:
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\2\ So in original. No par. (2) has been enacted.
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(A) \3\ Any futures commission merchant, commodity trading
advisor, or commodity pool operator registered, or required to
register, under the Commodity Exchange Act.
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\3\ So in original. No subpar. (B) has been enacted.
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(Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 995; Pub. L. 99-570, title I,
Sec. 1362, Oct. 27, 1986, 100 Stat. 3207-33; Pub. L. 100-690, title VI,
Sec. 6185(a), (g)(1), Nov. 18, 1988, 102 Stat. 4354, 4357; Pub. L. 103-
325, title IV, Secs. 405, 409, Sept. 23, 1994, 108 Stat. 2247, 2252;
Pub. L. 107-56, title III, Secs. 321(a), (b), 359(a), 365(c)(1), (2)(A),
Oct. 26, 2001, 115 Stat. 315, 328, 335.)
Historical and Revision Notes
----------------------------------------------------------------------------------------------------------------
Revised Section Source (U.S. Code) Source (Statutes at Large)
----------------------------------------------------------------------------------------------------------------
5312(a)(1)........................... 31:1052(a), (b), (g), (i). Oct. 26, 1970, Pub. L. 91-508, Sec.
203(a)-(i), (l), 84 Stat. 1118.
5312(a)(2)........................... 31:1052(e).
5312(a)(3)........................... 31:1052(l).
5312(a)(4)........................... 31:1052(c).
5312(a)(5)........................... 31:1052(d).
5312(b).............................. 31:1052(f), (h).
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In subsection (a)(1), the text of 31:1052(a) is omitted as
unnecessary. The text of 31:1052(b) is omitted because of the
restatement. The text of 31:1052(i) is omitted as unnecessary because
the source provision is restated where necessary in the revised
subchapter.
In subsection (a)(2), (3), (4), and (5), the words ``the Secretary .
. . prescribes'' are substituted for ``specified by the Secretary by
regulation'', ``as the Secretary may by regulation specify'',
``specified by the Secretary'', and ``the Secretary shall by regulation
specify'' for consistency.
In subsection (a)(2) and (3), the words ``for the purposes of the
provision of this chapter to which the regulation relates'' are omitted
as surplus.
In subsection (a)(2), before subclause (A), the words ``any person
which does business in any one or more of the following capacities'' are
omitted as surplus. In subclause (F), the words ``savings bank, building
and loan association, credit union, industrial bank, or other'' are
omitted as surplus. In subclause (T), the words ``agency of the United
States Government or of a State or local government'' are substituted
for ``Federal, State, or local government institution'' for consistency.
In subclause (U), the words ``type of'' are omitted as surplus. The word
``agency'' is substituted for ``institution'' for consistency.
In subsection (a)(3)(B)-(5), the word ``prescribe'' is substituted
for ``specify'' for consistency in the revised title and with other
titles of the United States Code.
In subsection (a)(3)(B), the words ``in addition'', and ``and such
types of'' are omitted as surplus. The words ``similar material'' are
substituted for ``the equivalent thereof'' for clarity.
In subsection (a)(4), the words ``in addition to its meaning under
section 1 of title 1'' are substituted for ``natural persons,
partnerships, . . . associations, corporations, and all entities
cognizable as legal personalities'' for consistency because 1:1 is
applicable to all laws unless otherwise provided. The words ``a trustee,
a representative of an estate'' are substituted for ``trusts, estates'',
and the word ``entity'' is substituted for ``department or agency'', for
consistency. The words ``either for the purpose of this chapter
generally or any particular requirement thereunder'' are omitted as
surplus.
In subsection (a)(5), the words ``used in a geographic sense'' are
omitted because of the restatement. The words ``either for the purposes
of this chapter generally or any particular requirement thereunder'' are
omitted as surplus. The words ``territory or'' are added for
consistency.
Subsection (b) is substituted for 31:1052(f) and (h) to eliminate
unnecessary words and for consistency.
References in Text
The Securities Exchange Act of 1934, referred to in subsec.
(a)(2)(G), is act June 6, 1934, ch. 404, 48 Stat. 881, as amended, which
is classified principally to chapter 2B (Sec. 78a et seq.) of Title 15,
Commerce and Trade. For complete classification of this Act to the Code,
see section 78a of Title 15 and Tables.
The Indian Gaming Regulatory Act, referred to in subsec.
(a)(2)(X)(ii), is Pub. L. 100-497, Oct. 17, 1988, 102 Stat. 2467, as
amended, which is classified principally to chapter 29 (Sec. 2701 et
seq.) of Title 25, Indians. Section 4(6) of the Act is classified to
section 2703(6) of Title 25. For complete classification of this Act to
the Code, see Short Title note set out under section 2701 of this title
and Tables.
The Commodity Exchange Act, referred to in subsec. (c)(1)(A), is act
Sept. 21, 1922, ch. 369, 42 Stat. 998, as amended, which is classified
generally to chapter 1 (Sec. 1 et seq.) of Title 7, Agriculture. For
complete classification of this Act to the Code, see section 1 of Title
7 and Tables.
Codification
Another section 365(c) of Pub. L. 107-56 amended the table of
sections at the beginning of this chapter.
Amendments
2001--Subsec. (a)(2)(E). Pub. L. 107-56, Sec. 321(a), which directed
the general amendment of par. (2)(E) of this section, was executed to
subsec. (a)(2)(E) of this section to reflect the probable intent of
Congress. Prior to amendment, subsec. (a)(2)(E) read as follows: ``an
insured institution (as defined in section 401(a) of the National
Housing Act (12 U.S.C. 1724(a)));''.
Subsec. (a)(2)(R). Pub. L. 107-56, Sec. 359(a), amended subpar. (R)
generally. Prior to amendment, subpar. (R) read as follows: ``a licensed
sender of money;''.
Subsec. (a)(3)(C). Pub. L. 107-56, Sec. 365(c)(2)(A), substituted
``sections 5333 and 5316,'' for ``section 5316,''.
Subsec. (a)(4) to (6). Pub. L. 107-56, Sec. 365(c)(1), added par.
(4) and redesignated former pars. (4) and (5) as (5) and (6),
respectively.
Subsec. (c). Pub. L. 107-56, Sec. 321(b), added subsec. (c).
1994--Subsec. (a)(2)(X) to (Z). Pub. L. 103-325, Sec. 409, added
subpar. (X) and redesignated former subpars. (X) and (Y) as (Y) and (Z),
respectively.
Subsec. (a)(3)(C). Pub. L. 103-325, Sec. 405, added subpar. (C).
1988--Subsec. (a)(2)(T) to (Y). Pub. L. 100-690, Sec. 6185(a), added
subpars. (T) to (Y) and struck out former subpars. (T) and (U) which
read as follows:
``(T) an agency of the United States Government or of a State or
local government carrying out a duty or power of a business described in
this clause (2), including the United States Postal Service; or
``(U) another business or agency carrying out a similar, related, or
substitute duty or power the Secretary of the Treasury prescribes.''
Subsec. (a)(5). Pub. L. 100-690, Sec. 6185(g)(1), inserted a comma
after ``Puerto Rico'' and struck out second comma after ``Pacific
Islands''.
1986--Subsec. (a)(2)(T). Pub. L. 99-570, Sec. 1362(a), which
directed that the Postal Service be included within United States
agencies by amending subsec. (a)(2)(U) of this section by inserting
before the semicolon at the end thereof the following ``, including the
United States Postal Service'', was executed to subsec. (a)(2)(T) of
this section as the probable intent of Congress, because subsec.
(a)(2)(U) does not contain a semicolon and subsec. (a)(2)(T) relates to
United States agencies.
Subsec. (a)(5). Pub. L. 99-570, Sec. 1362(b), inserted ``the Virgin
Islands, Guam, the Northern Mariana Islands, American Samoa, the Trust
Territory of the Pacific Islands,'' after ``Puerto Rico''.
Termination Date of 2001 Amendment
Amendments by title III of Pub. L. 107-56 to terminate effective on
and after the first day of fiscal year 2005 if Congress enacts a joint
resolution that such amendments no longer have the force of law, see
section 303 of Pub. L. 107-56, set out as a Four-Year Congressional
Review; Expedited Consideration note under section 5311 of this title.
Termination of Trust Territory of the Pacific Islands
For termination of Trust Territory of the Pacific Islands, see note
set out preceding section 1681 of Title 48, Territories and Insular
Possessions.
Section Referred to in Other Sections
This section is referred to in sections 5318, 5331, 5340 of this
title; title 12 section 1953; title 18 sections 986, 1956, 2339B; title
19 sections 1401, 1607; title 26 section 6050I; title 50 section 438.