The Financial Crimes Enforcement Network (FinCEN) is notifying filers the mailing address for filing the Currency and Monetary Instrument Report (CMIR) has been changed. Individuals and shippers and mailers that mail the report must use the following new address:
Passenger Systems Program Directorate # 1256
7375 Boston Blvd.
DHS, VA 20598-1256
The address is the only change to the report and has been included in the July 2017 version of the CMIR on the FinCEN website.
If you are not familiar with this report, or wondering if it applies to your institution, this report is required by 31 U.S.C. 5316 and Treasury Department regulations (31 CFR Chapter X).
Who Must File: Each person who physically transports, mails, or ships, or causes to be physically transported, mailed, or shipped currency or other monetary instruments in an aggregate amount exceeding $10,000 at one time from the United States to any place outside the United States or into the United States from any place outside the United States, and;
Each person who receives in the United States currency or other monetary instruments In an aggregate amount exceeding $10,000 at one time which have been transported, mailed, or shipped to the person from any place outside the United States.
A transfer of funds through normal banking procedures, which does not involve the physical transportation of currency or monetary instruments, is NOT required to be reported.
There are also certain exceptions outlining when reports are not required to be filed.
If you are looking for upcoming BSA/AML training, we are offering a variety of webinars on specific BSA/AML topics. We also have a Live Event coming up this Fall. Be sure to check out our store for more information.
Deb joined Banker’s Compliance Consulting with twenty years of experience in the banking industry. Her past positions include teller, credit review analyst, assistant financial officer, BSA Officer, Compliance Officer, and Director of Compliance. She has worked for both a small community bank and a large billion-dollar bank.
Deb has Associate Degrees in Business Management and Accounting. She is a graduate of the American Bankers Association National Graduate School of Compliance Management, an honors graduate of Schools of Banking Compliance School, and a graduate of Schools of Banking Advanced School of Banking. Deb’s considerable knowledge and experience make her a valuable member of the Banker’s Compliance Consulting Team. Deb is a Certified Regulatory Compliance Manager (CRCM) and a Certified Anti Money-Laundering Specialist (CAMS).
Deb loves to spend her free time cycling, running, kayaking and weight lifting with her husband. Between them, they have three adult children and six grandchildren. Other interests include anything outdoors and anything she hasn’t done or seen yet!