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:
---------------------------------------------------------------------------
    \2\ So in original. No par. (2) has been enacted.
---------------------------------------------------------------------------
            (A) \3\ Any futures commission merchant, commodity trading 
        advisor, or commodity pool operator registered, or required to 
        register, under the Commodity Exchange Act.
---------------------------------------------------------------------------
    \3\ So in original. No subpar. (B) has been enacted.
---------------------------------------------------------------------------

(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).
----------------------------------------------------------------------------------------------------------------

    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.