On February 23, 2024, FinCEN issued a notice and request for comments on the proposed renewal, without change, of an existing information collection relating to records of certain domestic transactions, commonly referred to as geographic targeting orders (GTOs). The information required to be recorded and reported pursuant to a GTO is basic information that a domestic financial institution or domestic nonfinancial trade or business would have access to in the normal course of doing business, such as payment, receipt, or transfer of funds information.
Comments are invited on:
Whether the recordkeeping of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility;
The accuracy of the agency's estimate of the burden of the collection of information;
Ways to enhance the quality, utility, and clarity of the information to be collected;
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
Estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information.
Written comments must be received on or before April 23, 2024.
The full Notice can be found here.