Notice2026-08363
Agency Information Collection Activities; Proposed Renewal; Comment Request; Renewal Without Change of the Registration of Money Services Businesses Regulation and FinCEN Form 107
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
April 30, 2026
Issuing agencies
Treasury DepartmentFinancial Crimes Enforcement Network
Abstract
As part of its continuing effort to reduce paperwork and respondent burden, FinCEN invites comments on a renewal, without change, to information collection requirements contained in Bank Secrecy Act (BSA) regulations and FinCEN Form 107--Registration of Money Services Business (RMSB). Under the regulations, money services businesses (MSBs) must register with FinCEN using FinCEN Form 107, renew their registration every two years, and maintain a list of their MSB agents, if applicable. This request for comments is made pursuant to the Paperwork Reduction Act of 1995.
Full Text
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<title>Federal Register, Volume 91 Issue 83 (Thursday, April 30, 2026)</title>
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[Federal Register Volume 91, Number 83 (Thursday, April 30, 2026)]
[Notices]
[Pages 23348-23352]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-08363]
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DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network
Agency Information Collection Activities; Proposed Renewal;
Comment Request; Renewal Without Change of the Registration of Money
Services Businesses Regulation and FinCEN Form 107
AGENCY: Financial Crimes Enforcement Network (FinCEN), Treasury.
ACTION: Notice and request for comments.
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SUMMARY: As part of its continuing effort to reduce paperwork and
respondent burden, FinCEN invites comments on a renewal, without
change, to information collection requirements contained in Bank
Secrecy Act (BSA) regulations and FinCEN Form 107--Registration of
Money Services Business (RMSB). Under the regulations, money services
businesses (MSBs) must register with FinCEN using FinCEN Form 107,
renew their registration every two years, and maintain a list of their
MSB agents, if applicable. This request for comments is made pursuant
to the Paperwork Reduction Act of 1995.
DATES: Written comments are welcome and must be received on or before
June 29, 2026.
ADDRESSES: Comments may be submitted by any of the following methods:
<bullet> Federal E-rulemaking Portal: <a href="http://www.regulations.gov">http://www.regulations.gov</a>.
Follow the instructions for submitting comments. Refer to docket number
FINCEN-2026-0133 and the Office of Management and Budget (OMB) control
number 1506-0013.
<bullet> Mail: Regulatory and Strategic Affairs Division, Financial
Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183. Refer to
docket number FINCEN-2026-0133 and OMB control number 1506-0013.
Please submit comments by one method only. Comments will be
reviewed consistent with the Paperwork Reduction Act of 1995 and
applicable OMB regulations and guidance. Do not include any personally
identifiable information (such as name, address, or other contact
information) or confidential business information that you do not want
publicly disclosed. All comments are public records; they are publicly
displayed exactly as received, and will not be deleted, modified, or
redacted. Comments may be submitted anonymously.
FOR FURTHER INFORMATION CONTACT: FinCEN's Regulatory Support Section at
<a href="http://www.fincen.gov/contact">www.fincen.gov/contact</a>.
SUPPLEMENTARY INFORMATION:
I. Statutory and Regulatory Provisions
The legislative framework generally referred to as the BSA consists
of the Currency and Foreign Transactions Reporting Act of 1970,\1\ as
amended by the Uniting and Strengthening America by Providing
Appropriate Tools Required to Intercept and Obstruct Terrorism Act of
2001 (USA PATRIOT Act),\2\ Anti-Money Laundering Act of 2020 (AML Act),
and other legislation.\3\ The BSA is codified at 12 U.S.C. 1829b and
1951-1960, and 31 U.S.C. 5311-5314 and 5316-5336, and includes notes
thereto, with implementing regulations at 31 CFR chapter X.
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\1\ Title II of Public Law 91-508, 84 Stat. 1118 (Oct. 26,
1970).
\2\ Public Law 107-56, 115 Stat. 272 (Oct. 26, 2001).
\3\ The AML Act was enacted as Division F, sections 6001-6511,
of the William M. (Mac) Thornberry National Defense Authorization
Act for Fiscal Year 2021, Public Law 116-283, 134 Stat 3388 (Jan. 1,
2021).
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The BSA authorizes the Secretary of the Treasury (Secretary) to,
inter alia, require financial institutions to keep records and file
reports that are determined to have a high degree of usefulness in
criminal, tax, and regulatory matters, risk assessments or proceedings,
or in intelligence or counter-intelligence activities, including
analysis, to protect against terrorism, and to implement anti-money
laundering/countering the financing of terrorism (AML/CFT) programs and
compliance procedures.\4\ The Secretary
[[Page 23349]]
has delegated to the Director of FinCEN the authority to administer the
BSA.\5\
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\4\ See 31 U.S.C. 5311(1)-(2).
\5\ Treasury Order 180-01 (reaffirmed Jan. 14, 2020); see also
31 U.S.C. 310(b)(2)(I) (providing that the Director of FinCEN shall
``[a]dminister the requirements of subchapter II of chapter 53 of
this title, chapter 2 of title I of Public Law 91-508, and section
21 of the Federal Deposit Insurance Act, to the extent delegated
such authority by the Secretary.'').
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FinCEN has defined the BSA term ``financial institution'' to
include a ``money services business'' (MSB).\6\ This category includes
a dealer in foreign exchange; a check casher; an issuer or seller of
traveler's checks or money orders; a provider of prepaid access; a
money transmitter; the U.S. Postal Service; and a seller of prepaid
access.\7\ Like other financial institutions under the BSA, MSBs must
implement AML programs, make certain reports to FinCEN, and maintain
certain records to facilitate financial transparency. MSBs are
generally required to: (1) establish written AML programs that are
reasonably designed to prevent the MSB from being used to facilitate
money laundering and the financing of terrorist activities; \8\ (2)
file Currency Transaction Reports \9\ (CTRs) and Suspicious Activity
Reports \10\ (SARs); and (3) maintain certain records,\11\ including
those relating to the purchase of certain monetary instruments,\12\ and
certain transmittals of funds.\13\ MSBs are subject to examination for
BSA compliance by the Internal Revenue Service (IRS).\14\
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\6\ See 31 CFR 1010.100(t)(3).
\7\ See 31 CFR 1010.100(ff).
\8\ See 31 CFR 1022.210.
\9\ See 31 CFR 1010.306-314.
\10\ See 31 CFR 1022.320.
\11\ See 31 CFR 1010.430.
\12\ See 31 CFR 1010.415.
\13\ See 31 CFR 1010.410(e)-(f).
\14\ See 31 CFR 1010.810(b)(8).
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The BSA requires all MSBs, both principals and their agents, to
establish and maintain an effective written AML program reasonably
designed to prevent the MSB from being used to facilitate money
laundering and the financing of terrorist activities. Although
principals and agents may contractually allocate responsibility for
developing policies, procedures, and internal controls, both the
principal and its agents remain liable under the rules for the
existence of these respective policies, procedures, and controls.\15\
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\15\ See FinCEN, FIN-2016-G001, Guidance on Existing AML Program
Rule Compliance Obligations for MSB Principals with Respect to Agent
Monitoring (FIN-2016-G00) (Mar. 11, 2016), <a href="https://www.fincen.gov/resources/statutes-regulations/guidance/guidance-existing-aml-program-rule-compliance-obligations">https://www.fincen.gov/resources/statutes-regulations/guidance/guidance-existing-aml-program-rule-compliance-obligations</a>.
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Under 31 U.S.C. 5330 and its implementing regulation (31 CFR
1022.380), MSBs must file an initial registration form with FinCEN,
renew their registration every two years, re-register under certain
circumstances, and maintain a list of their MSB agents, if
applicable.\16\
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\16\ See 31 CFR 1010.100(ff).
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A. Registration
Each MSB, with few exceptions, must register with FinCEN.\17\
Registration occurs via FinCEN Form 107.\18\ The registration form for
an MSB's initial registration period must be filed on or before the end
of the 180-day period beginning on the day following the date the MSB
is established.\19\ The initial registration period is the two-
calendar-year period that begins with the calendar year in which the
MSB is first required to be registered.\20\ An MSB's first renewal
comes due on or before the last day of that period (i.e., December 31st
of the second calendar year of the period), with subsequent renewals
due every two years thereafter.\21\
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\17\ See 31 CFR 1022.380(a).
\18\ See 31 CFR 1022.380(b)(1)(i); FinCEN, Registration of Money
Services Business (RMSB) Electronic Filing Instructions (July 2014--
Version 1.0), <a href="https://www.fincen.gov/sites/default/files/shared/FinCENRMSB_ElectronicFilingInstructions.pdf">https://www.fincen.gov/sites/default/files/shared/FinCENRMSB_ElectronicFilingInstructions.pdf</a>.
\19\ See 31 CFR 1022.380(b)(3).
\20\ See 31 CFR 1022.380(b)(2).
\21\ See 31 CFR 1022.380(b)(2), (b)(3).
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In addition to setting forth when an MSB is required to first
obtain and then renew its registration, the regulations also require
MSBs to re-register not later than 180 days after any of the following
occurs: (1) a change in ownership that requires the MSB to be re-
registered under state law; (2) a transfer of 10 percent of voting or
equity interest in the MSB; \22\ or (3) an increase in MSB agents of 50
percent or more.\23\ MSBs must maintain for a period of five years a
copy of any registration form filed under 31 CFR 1022.380 at a location
in the United States.\24\
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\22\ Re-registration is not required if the transfer in voting
power or equity interest is required to be reported to the
Securities and Exchange Commission.
\23\ See 31 CFR 1022.380(b)(4).
\24\ See 31 CFR 1010.430(d); 31 CFR 1022.380(b)(1)(iii).
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B. Maintenance of an MSB Agent List
A person that is an MSB solely because that person serves as an
agent of another MSB is not required to register.\25\ However, an MSB
that is not solely an agent of other MSBs (an ``MSB principal''), and
that itself maintains any MSB agents must prepare and maintain a list
of those MSB agents (MSB agent list).\26\ The MSB agent list must be
revised each January 1 for the immediately preceding 12-month period
with information that is current within 45 days of the revision.\27\ In
general, the MSB agent list must include the following information
about each MSB agent: (1) name; (2) address; (3) telephone number; (4)
type(s) of MSB activity (e.g., check cashing, currency exchange, or
money transmission, among others); (5) list of the months in which the
MSB agent's gross transaction amount of MSB principal-issued financial
products or services exceeded $100,000 in the 12 months immediately
preceding the date of the MSB principal's last MSB agent list; (6) the
name and address for any depository institution at which the MSB agent
maintains a transaction account for all or part of the funds for
financial products or services issued by the MSB principal; (7) first
year in which the MSB agent served an agent of the MSB principal; and
(8) number of MSB agents or MSB subagents the MSB agent has.\28\ An MSB
principal is not required to include its MSB agent list when filing its
registration with FinCEN using Form 107, but the MSB principal must
maintain the MSB agent list at a location in the United States reported
on the MSB registration form.\29\
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\25\ See 31 CFR 1022.380(a)(3); see also 31 CFR 1022.380(c).
\26\ See 31 CFR 1022.380(d)(1).
\27\ Id.; see also 31 CFR 1022.380(d)(2)(ii).
\28\ See 31 CFR 1022.380(d)(2)(i).
\29\ See 31 CFR 1022.380(d)(1). This is necessary because the
regulations require an MSB to make its list available, upon request,
to FinCEN, an appropriate law enforcement agency, or the examination
function of the Internal Revenue Service, in its capacity as delegee
of BSA examination authority. Id.
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II. Paperwork Reduction Act (PRA) <SUP>30</SUP>
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\30\ See 44 U.S.C. 3506(c)(2)(A).
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Title: Registration of Money Services Businesses (31 CFR 1022.380).
OMB Control Number: 1506-0013.
Form Number: FinCEN Form 107-RMSB.
Abstract: FinCEN is issuing this notice to renew the OMB control
number for the registration of MSB regulations at 31 CFR 1022.380 and
FinCEN Form 107--RMSB.
Type of Review: Renewal without change of a currently approved
information collection.
Affected Public: Business or other for-profit institutions.
Frequency: As required.\31\
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\31\ Registration renewals are required every two years (see 31
CFR 1022.380(b)(2)-(3)), and principal MSBs are required to prepare
or revise their agent list as needed on an annual basis (see 31 CFR
1022.380(d)(1).
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[[Page 23350]]
Estimated Number of Potential Respondents: 24,856 MSBs.\32\
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\32\ FinCEN's estimate of potential respondents is based on a
count of MSBs with indicia of operating as MSB principals, including
but not limited to at least one registration filing within the most
recent three calendar years. Because MSB agents are not typically
subject to registration requirements, they are generally excluded
from the population of expected respondents.
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Based on its analysis of FinCEN Form 107 filings over the three-
calendar-year period ending December 31, 2025, FinCEN observes that
there are approximately 24,856 unique, currently active MSB principals
and approximately 307,212 MSB agents in the United States.\33\ As
explained above, only MSB principals that are not otherwise exempt are
required to complete and file a FinCEN Form 107. However, because the
registration period is generally two years (with a partial exception
for the first registration period as explained above), not all MSB
principals complete and submit a FinCEN Form 107 in any given year.
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\33\ These estimates incorporate multiple sources of data,
including both FinCEN filing data and proprietary data provided by
certain third party sources.
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Therefore, while the total population of MSBs that have obligations
pursuant to the BSA is approximately 332,068, the number of potential
respondents expected to incur a PRA burden in a given year in
connection with the requirements covered by this notice is much
smaller.
Estimated Number of Expected Respondents: 17,997 MSBs annually, on
average.\34\
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\34\ This estimate represents the expected number of respondents
by respondent-response pairs, not the number of unique MSB
respondents anticipated in a given year. Because an individual MSB
may be subject to more than one type of reporting and/or
recordkeeping obligation (itemized below as different categories of
responses) in a given calendar year, the same MSB may be counted
more than once as an expected respondent. See also table 1, where
respondents are de-duplicated within registration filings across
filing types, but not de-duplicated across registration and agent
list maintenance activities.
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In the three-year period between 2023 and 2025, FinCEN received
45,272 FinCEN Form 107 submissions, averaging 15,091 filings per
calendar year from approximately 11,783 unique filers per year, on
average.\35\ This is equivalent to about 1.28 filings per unique filer
per year.
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\35\ FinCEN notes that the total population of potential
respondents is based on the number of MSB principals (24,856) as of
year-end 2025, whereas the estimates of expected respondents by
response type are based on the average annual number of unique
filers over the past three calendar years, two of which had higher
baseline populations of MSBs. This may lead to an overestimate of
expected burden if future MSB populations remain the same or
decrease in the next three years. FinCEN is requesting comment on
the likelihood that the sensitivity of its anticipated burden
estimates to the assumption of a stable MSB population would lead to
substantive inaccuracies.
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FinCEN observed that some filers submitted more than one filing of
the same type in a given year.\36\ In some cases this appears to have
been done to correct other registrations, renewals, or re-
registrations, filed earlier. Over the full three-year period,
approximately 10 percent of all original filings were later corrected
with a subsequent filing.\37\
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\36\ Across all three filing types, about 85 percent of filers
completed one filing annually, 12 percent completed two filings, and
about three percent completed three or more. These ratios were
consistent across unique MSB filers of all three filing types,
resulting in an average of about 1.2 filings per filer annually for
each type.
\37\ Mindful of its obligation to seek opportunities to reduce
paperwork burden and enhance the efficiency of its information
collections, FinCEN is requesting comment on potential activities
the public believes the agency could undertake that would help
reduce the incidence, and thereby the burden, of duplicated filing
due to form completion errors or omissions.
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The following sections describe the anticipated number of
respondents and responses for each type of filing as well as for those
maintaining agent lists. These are summarized in table 1 below.
Initial Registrations
Over the past three-year period, FinCEN received an annual average
of 5,278 initial filings, from an average of 4,093 unique filers per
year. This results in a three-year annual average of approximately 1.29
filings per respondent.
Registration Renewals and Re-Registrations
Over the past three-year period, FinCEN received an average of
9,503 renewals per year, from an average of 7,827 unique filers per
year. Over the same period, FinCEN received an average of 309 re-
registrations per year, from an average of 253 unique filers per year.
Combined, this results in an annual average of 9,812 filings from an
average of 8,011 unique filers, for an average of 1.22 filings per
respondent.
Maintenance of an Agent List
FinCEN estimates that there are 307,212 active MSB agents in the
United States, which is equivalent to an average of 12 agents per
registered MSB. However, this figure is highly skewed by a few large
MSB principals with many MSB agents and does not reflect that most
registered MSBs face little to no burden in connection with the
regulatory obligation to maintain a list of MSB agents. A non-trivial
proportion (approximately 75 percent) of registered MSBs do not report
having any MSB agents. Furthermore, based on the FinCEN Form 107
submissions that FinCEN analyzed, of the approximately 25 percent of
MSB principals that reported having MSB agents, approximately 75
percent of these (19 percent of all MSB principals) have only one.\38\
Conditional on having at least one MSB agent, the average number of MSB
agents per registered MSB is approximately 49.
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\38\ Across unique MSB principals, slightly less than 75 percent
had zero MSB agents, approximately 19 percent had one MSB agent,
approximately six percent had between two and 50 MSB agents, and
less than one percent had more than 50 MSB agents.
Table 1--Number of Respondents and Responses
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Average
Number of number of Number of
Activity respondents responses per responses
respondent
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Initial Registration............................................ 4,093 1.29 5,278
Renewals & Re-registrations..................................... 8,011 1.22 9,812
Maintain MSB Agent List......................................... \a\ 6,214 1.00 6,214
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Total....................................................... \b\ 17,997 21,305
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\a\ This reflects the estimated 25 percent of MSB principals with MSB agents.
\b\ This total represents the total number of unique annual respondents for across the three filing types (i.e.,
initial registrations, renewals, and re-registrations; 11,783 MSBs), plus the estimated number of MSB
principals maintaining MSB agent lists (6,214 MSBs). However, because some filers completed more than one type
of filing during the three-year period, the number of unique respondents (17,997) is less than the sum of the
respondents across all three activities (18,318). Additionally, because some MSB principals with MSB agents
may also complete a filing in a given year, this total may overstate the number of unique respondents in a
given year.
[[Page 23351]]
Estimated Total Annual Recordkeeping and Reporting Burden: 14,047
hours.
Below, we describe the anticipated burden hours FinCEN assigns for
each activity required by the covered regulation. The burdens
associated with filing initial registrations, registration renewals,
and re-registration reflect the average anticipated burden to complete
and save the form for a typical MSB principal. FinCEN acknowledges that
different burden estimates may apply to MSB principals of various sizes
and types and would depend on the number of forms submitted and other
facts and circumstances. For example, certain MSBs may need to complete
more fields within FinCEN Form 107 than others.\39\ These MSBs may
incur higher reporting burdens commensurate with the additional
information they would be required to provide. As such, the average
burden estimates presented in this notice may not represent the
economic burden any particular respondent would incur.
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\39\ For example, an MSB that is a provider of prepaid access
must identify each prepaid program for which it is the provider of
prepaid access. See 31 CFR 1022.380(a)(1). A foreign-located MSB
principal must complete additional fields to identify an MSB agent
in the United States, as well as the location of certain records.
See 31 CFR 1022.380(a)(2). FinCEN estimates that only 0.5 percent of
MSB principals are providers of prepaid access programs, while three
percent of MSB principals reported a foreign address. FinCEN
estimates that providing the requisite additional information would
take providers of prepaid access approximately four minutes per
affected MSB, while foreign-located MSB principals would spend
approximately one minute per affected MSB.
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Initial Registration
FinCEN estimates that the hourly burden of filing and maintaining
an initial FinCEN Form 107 is 50 minutes (0.83 hours), which include 40
minutes to fill out the form and file it, and 10 minutes to save the
form electronically and/or print out a copy to maintain.\40\ FinCEN
suggests that the information required to be included on the form is
basic information MSBs need to maintain to conduct business. With an
average of 1.29 filings per expected respondent, this results in an
average annual burden of approximately 1.07 hours per expected
respondent in a given year.\41\
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\40\ FinCEN has lowered this estimate from 70 minutes in the
prior renewal based on an internal analysis of form completion time
using sample data.
\41\ 1.29 filings per respondent multiplied by 50 minutes (0.83
hours) per initial filing is approximately 1.07 hours per
respondent.
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Registration Renewals and Re-Registrations
When an MSB submits a FinCEN Form 107 online via the BSA Portal,
the BSA electronic filing system prompts the respondent to save a copy.
If an MSB saves a submitted FinCEN Form 107, it would subsequently be
able to avoid completing the entire form anew and instead submit an
updated version of the previously saved submission with revisions to
reflect any new information. Thus, for renewals, MSBs can simply amend
Part I by selecting ``item 1b'' (renewal), make any necessary changes
to their saved prior submission, and submit the updated form. For re-
registrations, MSBs can similarly amend Part I by selecting ``item 1d''
(re-registration), select the appropriate response in item 2
(indicating the reason for re-registration), make any necessary
updates, and submit the revised form.
Because an MSB does not have to complete the entire form anew,
FinCEN estimates that the hourly burden of filing and maintaining a
copy of the renewal or re-registration of the FinCEN Form 107 is 40
minutes (0.67 hours), which include 30 minutes to revise the form and
file it, and 10 minutes to save the form electronically and/or print
out a copy to maintain. As with the initial registration, most of the
information required to be included on the form is basic information
that FinCEN expects an MSB would otherwise need to maintain to conduct
business. Given an annual average of 1.22 filings per expected
respondent, this equates to an average annual burden of about 0.82
hours per expected respondent.\42\
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\42\ 1.22 filings per respondent multiplied by 40 minutes (0.67
hours) per filing is approximately 0.82 hours.
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Maintenance of an MSB Agent List
Each MSB principal is required to prepare and maintain a list of
its MSB agents. That list must include for each agent the information
described above in section I.B. The list must be revised annually to
reflect any changes.
FinCEN estimates that the hourly burden of drafting an MSB agent
list and revising it annually is approximately 30 minutes (0.5 hours)
on average per MSB principal. FinCEN views most of the requisite
information in an MSB agent list as basic data MSB principals would
probably need in the ordinary course of business, and thus readily
available to MSB principals. However, FinCEN believes the requirement
to annually update the list for each MSB agent the months in which an
MSB agent's gross transaction amount in financial products or services
issued by the MSB principal exceeds $100,000 may require additional
auditing or verification, or otherwise depend on information not
readily available to the MSB principal in a list format. In these
cases, MSB agent list maintenance requirements may necessitate
additional time to research and record.
As FinCEN does not require MSB principals to maintain MSB agent
lists in any particular format, it is foreseeable that affected MSB
principals could leverage accounting records or business processes to
create and revise their MSB agent lists. Given the observed
distribution of MSB agents across MSB principals discussed above,
FinCEN is assigning a recordkeeping burden of 30 minutes annually on
average for MSB principals to update and maintain their MSB agent
lists, while acknowledging that many will require less time than this,
and a small number may require substantially more.
Table 2--Estimated Average Annual Burden Hours
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Number of Burden hours
Activity Hours per responses per per Number of Total burden
response * respondent * respondent * respondents hours
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Initial Registration............ 0.83 1.29 1.07 4,093 4,398.6
Renewals & Re-registrations..... 0.67 1.22 0.82 8,011 6,541.6
Maintain MSB Agent List......... 0.50 1.00 0.50 6,214 3,107.0
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Total....................... 17,997 14,047.2
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\a\ The hourly burden estimates and number of responses per respondent presented in this table are rounded to
the nearest hundredth of an hour for presentation purposes. Total burden figures are produced using unrounded
figures for accuracy.
[[Page 23352]]
Estimated Total Annual Recordkeeping and Reporting Cost:
$1,752,126, on average.
To estimate the average annual labor cost per respondent, FinCEN
applies an hourly wage rate to the average annual burden hours per
respondent from table 2.\43\ To estimate the average annual non-labor
cost per respondent associated with storing copies of the initial
registration, registration renewal, and re-registration forms as well
as the agent lists, FinCEN applies a per-record cost of $0.10 to the
number of responses per respondent presented in table 2.\44\
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\43\ Throughout this analysis, FinCEN applies an hourly wage
rate that is a general composite hourly wage rate ($87.61) scaled by
a private sector benefits factor of 1.42 ($124.58 = $87.61 x 1.42).
This incorporates Bureau of Labor Statistics mean wage data (May
2024--National industry-specific and by ownership, <a href="https://www.bls.gov/oes/tables.htm">https://www.bls.gov/oes/tables.htm</a>), associated with six occupational codes
(11-1010: Chief Executives; 11-3021: Computer and Information
Systems Managers; 11-3031: Financial Managers; 13-1041: Compliance
Officers; 23-1010: Lawyers and Judicial Law Clerks; 43-3099:
Financial Clerks, All Other) for each of the nine groupings of NAICS
industry codes that FinCEN determined are most directly comparable
to its 11 categories of potentially affected financial institutions
as delineated in 31 CFR parts 1020 to 1030. Given that many
occupations provide benefits beyond wages (e.g., insurance and paid
leave), FinCEN applies the private sector benefit factor to the
unloaded wage rate to reflect the total cost to the employer. The
benefit factor is the ratio of total compensation (which includes
wages and benefits) to wages. Total compensation = 43.94 and Wages
and salaries = 30.90 (1.42 = 43.94 / 30.90) as of June 2024, based
on the private industry workers series data downloaded from the
Bureau of Labor Statistics, Employer Costs for Employee Compensation
data, <a href="https://www.bls.gov/news.release/archives/ecec_09102024.pdf">https://www.bls.gov/news.release/archives/ecec_09102024.pdf</a>.
\44\ This estimate conforms FinCEN's prior estimates of
recordkeeping cost associated with processing and saving electronic
records. See, e.g., FinCEN, Agency Information Collection
Activities; Proposed Renewal; Comment Request; Renewal Without
Change on Information Sharing Between Government Agencies and
Financial Institutions, 90 FR 47125 (Sep. 30, 2025), at 47130, also
available at: <a href="https://www.federalregister.gov/d/2025-18928/p-89">https://www.federalregister.gov/d/2025-18928/p-89</a>.
Table 3--Estimated Average Annual Aggregate Cost Estimates
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Burden hours
Activity Number of per Total burden Cost per Total cost
respondents respondent hours respondent
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Initial Registration............ 4,093 1.07 4,398.6 $134.01 $548,507
Renewals & Re-registrations..... 8,011 0.82 6,541.6 101.85 815.928
Maintain Agent List............. \a\ 6,214 0.50 3,107.0 62.39 387,691
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Total....................... 17,997 14,047.2 1,752,126
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General Request for Comments:
Comments submitted in response to this notice will be summarized or
included in a request for OMB approval. All comments will become a
matter of public record. Comments are invited on: (1) whether the
collection of information is necessary for the proper performance of
the functions of the agency, including whether the information shall
have practical utility; (2) the accuracy of the agency's estimate of
the burden of the collection of information; (3) ways to enhance the
quality, utility, and clarity of the information to be collected; (4)
ways to minimize the burden of the collection of information on
respondents, including through the use of automated collection
techniques or other forms of information technology; and (5) estimates
of capital or start-up costs, costs of operation and maintenance, and
cost involved in purchasing services.
III. Additional Requests for Comment:
As part of its efforts to implement the AML Act, FinCEN is
conducting assessments of the PRA burden associated with BSA
requirements. To support those assessments, FinCEN is requesting
comments in response to the following questions:
1. Is there publicly available data that went unmentioned in this
notice, but that FinCEN should consider when estimating the number of
MSB agents? If possible, please comment on the generalizability and
other usability features of the data.
2. How would changes in the size or composition of the MSB
population affect FinCEN's estimated burden? Are there other
assumptions that are more likely to contribute to substantive
inaccuracies in the total burden and cost estimates? If so, please
describe.
3. What changes to FinCEN Form 107 would reduce common errors or
omissions?
Jimmy L. Kirby,
Deputy Director, Financial Crimes Enforcement Network.
[FR Doc. 2026-08363 Filed 4-29-26; 8:45 am]
BILLING CODE 4810-02-P
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</html>Indexed from Federal Register on April 30, 2026.
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