H. R. 6395—1200 
‘‘(4) STATE BANK SUPERVISOR.—The term ‘State bank super-
visor’ has the meaning given the term in section 3 of the 
Federal Deposit Insurance Act (12 U.S.C. 1813). 
‘‘(5) STATE
CREDIT
UNION
SUPERVISOR.—The term ‘State 
credit union supervisor’ means a State official described in 
section 107A(e) of the Federal Credit Union Act (12 U.S.C. 
1757a(e)).’’. 
SEC. 6305. ASSESSMENT OF BANK SECRECY ACT NO-ACTION LETTERS. 
(a) ASSESSMENT.— 
(1) IN GENERAL.—The Director, in consultation with the 
Attorney General, the Federal functional regulators, State bank 
supervisors, State credit union supervisors, and other Federal 
agencies, as appropriate, shall conduct an assessment on 
whether to establish a process for the issuance of no-action 
letters by FinCEN in response to inquiries from persons con-
cerning the application of the Bank Secrecy Act, the USA 
PATRIOT Act (Public Law 107–56; 115 Stat. 272), section 8(s) 
of the Federal Deposit Insurance Act (12 U.S.C. 1818(s)), or 
any other anti-money laundering or countering the financing 
of terrorism law (including regulations) to specific conduct, 
including a request for a statement as to whether FinCEN 
or any relevant Federal functional regulator intends to take 
an enforcement action against the person with respect to such 
conduct. 
(2) ANALYSIS.—The assessment required under paragraph 
(1) shall include an analysis of— 
(A) a timeline for the process used to reach a final 
determination by FinCEN, in consultation with the rel-
evant Federal functional regulators, in response to a 
request by a person for a no-action letter; 
(B) whether improvements in current processes are 
necessary; 
(C) whether a formal no-action letter process would 
help to mitigate or accentuate illicit finance risks in the 
United States; and 
(D) any other matter the Secretary determines is 
appropriate. 
(b) REPORT AND RULEMAKINGS.—Not later than 180 days after 
the date of enactment of this Act, the Secretary, in coordination 
with the Director of the Federal Bureau of Investigation, the 
Attorney General, the Secretary of Homeland Security, and the 
Federal functional regulators, shall— 
(1) submit to the Committee on Banking, Housing, and 
Urban Affairs of the Senate and the Committee on Financial 
Services of the House of Representatives a report that contains 
all findings and determinations made in carrying out the assess-
ment required under subsection (a); and 
(2) propose rulemakings, if appropriate, to implement the 
findings and determinations described in paragraph (1). 
SEC. 6306. COOPERATION WITH LAW ENFORCEMENT. 
(a) IN GENERAL.— 
(1) AMENDMENT
TO
TITLE
31.—Subchapter II of chapter 
53 of title 31, United States Code, is amended by adding at 
the end the following:
H. R. 6395—1201 
‘‘§ 5333. Safe harbor with respect to keep open directives 
‘‘(a) IN GENERAL.—With respect to a customer account or cus-
tomer transaction of a financial institution, if a Federal law enforce-
ment agency, after notifying FinCEN of the intent to submit a 
written request to the financial institution that the financial institu-
tion keep that account or transaction open (referred to in this 
section as a ‘keep open request’), or if a State, Tribal, or local 
law enforcement agency with the concurrence of FinCEN submits 
a keep open request— 
‘‘(1) the financial institution shall not be liable under this 
subchapter for maintaining that account or transaction con-
sistent with the parameters and timing of the request; and 
‘‘(2) no Federal or State department or agency may take 
any adverse supervisory action under this subchapter with 
respect to the financial institution solely for maintaining that 
account or transaction consistent with the parameters of the 
request. 
‘‘(b) RULE
OF CONSTRUCTION.—Nothing in this section may 
be construed— 
‘‘(1) to prevent a Federal or State department or agency 
from verifying the validity of a keep open request submitted 
under subsection (a) with the law enforcement agency submit-
ting that request; 
‘‘(2) to relieve a financial institution from complying with 
any reporting requirements or any other provisions of this 
subchapter, including the reporting of suspicious transactions 
under section 5318(g); or 
‘‘(3) to extend the safe harbor described in subsection (a) 
to any actions taken by the financial institution— 
‘‘(A) before the date of the keep open request to main-
tain a customer account; or 
‘‘(B) after the termination date stated in the keep open 
request. 
‘‘(c) LETTER TERMINATION DATE.—For the purposes of this sec-
tion, any keep open request submitted under subsection (a) shall 
include a termination date after which that request shall no longer 
apply. 
‘‘(d) RECORD KEEPING.—Any Federal, State, Tribal, or local 
law enforcement agency that submits to a financial institution 
a keep open request shall, not later than 2 business days after 
the date on which the request is submitted to the financial institu-
tion— 
‘‘(1) submit to FinCEN a copy of the request; and 
‘‘(2) alert FinCEN as to whether the financial institution 
has implemented the request. 
‘‘(e) GUIDANCE.—The Secretary of the Treasury, in consultation 
with the Attorney General and Federal, State, Tribal, and local 
law enforcement agencies, shall issue guidance on the required 
elements of a keep open request.’’. 
(2) AMENDMENT TO PUBLIC LAW 91–508.—Chapter 2 of title 
I of Public Law 91–508 (12 U.S.C. 1951 et seq.) is amended 
by adding at the end the following: 
‘‘§ 130. Safe harbor with respect to keep open directives 
‘‘(a) DEFINITION.—In this section, the term ‘financial institution’ 
means an entity to which section 123(b) applies.
H. R. 6395—1202 
‘‘(b) SAFE HARBOR.—With respect to a customer account or 
customer transaction of a financial institution, if a Federal law 
enforcement agency, after notifying FinCEN of the intent to submit 
a written request to the financial institution that the financial 
institution keep that account or transaction open (referred to in 
this section as a ‘keep open request’), or if a State, Tribal, or 
local law enforcement agency with the concurrence of FinCEN sub-
mits a keep open request— 
‘‘(1) the financial institution shall not be liable under this 
chapter for maintaining that account or transaction consistent 
with the parameters and timing of the request; and 
‘‘(2) no Federal or State department or agency may take 
any adverse supervisory action under this chapter with respect 
to the financial institution solely for maintaining that account 
or transaction consistent with the parameters of the request. 
‘‘(c) RULE OF CONSTRUCTION.—Nothing in this section may be 
construed— 
‘‘(1) to prevent a Federal or State department or agency 
from verifying the validity of a keep open request submitted 
under subsection (b) with the law enforcement agency submit-
ting that request; 
‘‘(2) to relieve a financial institution from complying with 
any reporting requirements, including the reporting of sus-
picious transactions under section 5318(g) of title 31, United 
States Code; or 
‘‘(3) to extend the safe harbor described in subsection (b) 
to any actions taken by the financial institution— 
‘‘(A) before the date of the keep open request to main-
tain a customer account; or 
‘‘(B) after the termination date stated in the keep open 
request. 
‘‘(d) LETTER TERMINATION DATE.—For the purposes of this sec-
tion, any keep open request submitted under subsection (b) shall 
include a termination date after which that request shall no longer 
apply. 
‘‘(e) RECORD KEEPING.—Any Federal, State, Tribal, or local 
law enforcement agency that submits to a financial institution 
a keep open request shall, not later than 2 business days after 
the date on which the request is submitted to the financial institu-
tion— 
‘‘(1) submit to FinCEN a copy of the request; and 
‘‘(2) alert FinCEN as to whether the financial institution 
has implemented the request.’’. 
(b) CLERICAL AMENDMENTS.— 
(1) TITLE 31.—The table of sections for chapter 53 of title 
31, United States Code, is amended by inserting after the 
item relating to section 5332 the following: 
‘‘5333. Safe harbor with respect to keep open directives.’’. 
(2) PUBLIC LAW 91–508.—The table of sections for chapter 
2 of title I of Public Law 91–508 (12 U.S.C. 1951 et seq.) 
is amended by adding at the end the following: 
‘‘130. Safe harbor with respect to keep open directives.’’.
H. R. 6395—1203 
SEC. 6307. TRAINING FOR EXAMINERS ON ANTI-MONEY LAUNDERING 
AND COUNTERING THE FINANCING OF TERRORISM. 
(a) IN GENERAL.—Subchapter II of chapter 53 of title 31, United 
States Code, as amended by section 6306(a)(1) of this division, 
is amended by adding at the end the following: 
‘‘§ 5334. Training regarding anti-money laundering and coun-
tering the financing of terrorism 
‘‘(a) 
TRAINING
REQUIREMENT.—Each 
Federal 
examiner 
reviewing compliance with the Bank Secrecy Act, as defined in 
section 6003 of the Anti-Money Laundering Act of 2020, shall attend 
appropriate annual training, as determined by the Secretary of 
the Treasury, relating to anti-money laundering activities and coun-
tering the financing of terrorism, including with respect to— 
‘‘(1) potential risk profiles and warning signs that an exam-
iner may encounter during examinations; 
‘‘(2) financial crime patterns and trends; 
‘‘(3) the high-level context for why anti-money laundering 
and countering the financing of terrorism programs are nec-
essary for law enforcement agencies and other national security 
agencies and what risks those programs seek to mitigate; and 
‘‘(4) de-risking and the effect of de-risking on the provision 
of financial services. 
‘‘(b) TRAINING MATERIALS AND STANDARDS.—The Secretary of 
the Treasury shall, in consultation with the Financial Institutions 
Examination Council, the Financial Crimes Enforcement Network, 
and Federal, State, Tribal, and local law enforcement agencies, 
establish appropriate training materials and standards for use in 
the training required under subsection (a).’’. 
(b) CLERICAL AMENDMENT.—The table of sections for chapter 
53 of title 31, United States Code, as amended by section 6306(b)(1) 
of this division, is amended by adding at the end the following: 
‘‘5334. Training regarding anti-money laundering and countering the financing of 
terrorism.’’. 
SEC. 6308. OBTAINING FOREIGN BANK RECORDS FROM BANKS WITH 
UNITED STATES CORRESPONDENT ACCOUNTS. 
(a) GRAND JURY AND TRIAL SUBPOENAS.—Section 5318(k) of 
title 31, United States Code, is amended— 
(1) in paragraph (1)— 
(A) by redesignating subparagraph (B) as subpara-
graph (C); and 
(B) by inserting after subparagraph (A) the following: 
‘‘(B) COVERED FINANCIAL INSTITUTION.—The term ‘cov-
ered financial institution’ means an institution referred 
to in subsection (j)(1).’’; and 
(2) by striking paragraph (3) and inserting the following: 
‘‘(3) FOREIGN BANK RECORDS.— 
‘‘(A) SUBPOENA OF RECORDS.— 
‘‘(i) IN GENERAL.—Notwithstanding subsection (b), 
the Secretary of the Treasury or the Attorney General 
may issue a subpoena to any foreign bank that main-
tains a correspondent account in the United States 
and request any records relating to the correspondent 
account or any account at the foreign bank, including 
records maintained outside of the United States, that 
are the subject of—
H. R. 6395—1204 
‘‘(I) any investigation of a violation of a 
criminal law of the United States; 
‘‘(II) any investigation of a violation of this 
subchapter; 
‘‘(III) a civil forfeiture action; or 
‘‘(IV) an investigation pursuant to section 
5318A. 
‘‘(ii) PRODUCTION OF RECORDS.—The foreign bank 
on which a subpoena described in clause (i) is served 
shall produce all requested records and authenticate 
all requested records with testimony in the manner 
described in— 
‘‘(I) rule 902(12) of the Federal Rules of Evi-
dence; or 
‘‘(II) section 3505 of title 18. 
‘‘(iii) ISSUANCE AND SERVICE OF SUBPOENA.—A sub-
poena described in clause (i)— 
‘‘(I) shall designate— 
‘‘(aa) a return date; and 
‘‘(bb) the judicial district in which the 
related investigation is proceeding; and 
‘‘(II) may be served— 
‘‘(aa) in person; 
‘‘(bb) by mail or fax in the United States 
if the foreign bank has a representative in 
the United States; or 
‘‘(cc) if applicable, in a foreign country 
under any mutual legal assistance treaty, 
multilateral agreement, or other request for 
international legal or law enforcement assist-
ance. 
‘‘(iv) RELIEF FROM SUBPOENA.— 
‘‘(I) IN
GENERAL.—At any time before the 
return date of a subpoena described in clause (i), 
the foreign bank on which the subpoena is served 
may petition the district court of the United States 
for the judicial district in which the related inves-
tigation is proceeding, as designated in the sub-
poena, to modify or quash— 
‘‘(aa) the subpoena; or 
‘‘(bb) the prohibition against disclosure 
described in subparagraph (C). 
‘‘(II) CONFLICT WITH FOREIGN SECRECY OR CON-
FIDENTIALITY.—An assertion that compliance with 
a subpoena described in clause (i) would conflict 
with a provision of foreign secrecy or confiden-
tiality law shall not be a sole basis for quashing 
or modifying the subpoena. 
‘‘(B) ACCEPTANCE OF SERVICE.— 
‘‘(i) 
MAINTAINING
RECORDS
IN
THE
UNITED 
STATES.—Any covered financial institution that main-
tains a correspondent account in the United States 
for a foreign bank shall maintain records in the United 
States identifying— 
‘‘(I) the owners of record and the beneficial 
owners of the foreign bank; and 
‘‘(II) the name and address of a person who—
H. R. 6395—1205 
‘‘(aa) resides in the United States; and 
‘‘(bb) is authorized to accept service of 
legal process for records covered under this 
subsection. 
‘‘(ii) LAW ENFORCEMENT REQUEST.—Upon receipt 
of a written request from a Federal law enforcement 
officer for information required to be maintained under 
this paragraph, a covered financial institution shall 
provide the information to the requesting officer not 
later than 7 days after receipt of the request. 
‘‘(C) NONDISCLOSURE OF SUBPOENA.— 
‘‘(i) IN
GENERAL.—No officer, director, partner, 
employee, or shareholder of, or agent or attorney for, 
a foreign bank on which a subpoena is served under 
this paragraph shall, directly or indirectly, notify any 
account holder involved or any person named in the 
subpoena issued under subparagraph (A)(i) and served 
on the foreign bank about the existence or contents 
of the subpoena. 
‘‘(ii) DAMAGES.—Upon application by the Attorney 
General for a violation of this subparagraph, a foreign 
bank on which a subpoena is served under this para-
graph shall be liable to the United States Government 
for a civil penalty in an amount equal to— 
‘‘(I) double the amount of the suspected 
criminal proceeds sent through the correspondent 
account of the foreign bank in the related inves-
tigation; or 
‘‘(II) if no such proceeds can be identified, not 
more than $250,000. 
‘‘(D) ENFORCEMENT.— 
‘‘(i) IN GENERAL.—If a foreign bank fails to obey 
a subpoena issued under subparagraph (A)(i), the 
Attorney General may invoke the aid of the district 
court of the United States for the judicial district in 
which the investigation or related proceeding is occur-
ring to compel compliance with the subpoena. 
‘‘(ii) COURT ORDERS AND CONTEMPT OF COURT.— 
A court described in clause (i) may— 
‘‘(I) issue an order requiring the foreign bank 
to appear before the Secretary of the Treasury 
or the Attorney General to produce— 
‘‘(aa) certified records, in accordance 
with— 
‘‘(AA) rule 902(12) of the Federal 
Rules of Evidence; or 
‘‘(BB) section 3505 of title 18; or 
‘‘(bb) testimony regarding the production 
of the certified records; and 
‘‘(II) punish any failure to obey an order issued 
under subclause (I) as contempt of court. 
‘‘(iii) SERVICE OF PROCESS.—All process in a case 
under this subparagraph shall be served on the foreign 
bank in the same manner as described in subparagraph 
(A)(iii). 
‘‘(E) TERMINATION OF CORRESPONDENT RELATIONSHIP.—
H. R. 6395—1206 
‘‘(i) TERMINATION UPON RECEIPT OF NOTICE.—A cov-
ered financial institution shall terminate any cor-
respondent relationship with a foreign bank not later 
than 10 business days after the date on which the 
covered financial institution receives written notice 
from the Secretary of the Treasury or the Attorney 
General if, after consultation with the other, the Sec-
retary of the Treasury or the Attorney General, as 
applicable, determines that the foreign bank has 
failed— 
‘‘(I) to comply with a subpoena issued under 
subparagraph (A)(i); or 
‘‘(II) to prevail in proceedings before— 
‘‘(aa) the appropriate district court of the 
United States after challenging a subpoena 
described in subclause (I) under subparagraph 
(A)(iv)(I); or 
‘‘(bb) a court of appeals of the United 
States after appealing a decision of a district 
court of the United States under item (aa). 
‘‘(ii) LIMITATION ON LIABILITY.—A covered financial 
institution shall not be liable to any person in any 
court or arbitration proceeding for— 
‘‘(I) terminating a correspondent relationship 
under this subparagraph; or 
‘‘(II) complying with a nondisclosure order 
under subparagraph (C). 
‘‘(iii) FAILURE
TO
TERMINATE
RELATIONSHIP
OR 
FAILURE TO COMPLY WITH A SUBPOENA.— 
‘‘(I) FAILURE TO TERMINATE RELATIONSHIP.— 
A covered financial institution that fails to termi-
nate a correspondent relationship under clause (i) 
shall be liable for a civil penalty in an amount 
that is not more than $25,000 for each day that 
the covered financial institution fails to terminate 
the relationship. 
‘‘(II) FAILURE TO COMPLY WITH A SUBPOENA.— 
‘‘(aa) IN GENERAL.—Upon failure to comply 
with a subpoena under subparagraph (A)(i), 
a foreign bank may be liable for a civil penalty 
assessed by the issuing agency in an amount 
that is not more than $50,000 for each day 
that the foreign bank fails to comply with 
the terms of a subpoena. 
‘‘(bb) ADDITIONAL PENALTIES.—Beginning 
after the date that is 60 days after a foreign 
bank fails to comply with a subpoena under 
subparagraph (A)(i), the Secretary of the 
Treasury or the Attorney General may seek 
additional penalties and compel compliance 
with the subpoena in the appropriate district 
court of the United States. 
‘‘(cc) VENUE FOR RELIEF.—A foreign bank 
may seek review in the appropriate district 
court of the United States of any penalty 
assessed under this clause and the issuance 
of a subpoena under subparagraph (A)(i).
H. R. 6395—1207 
‘‘(F) ENFORCEMENT OF CIVIL PENALTIES.—Upon applica-
tion by the United States, any funds held in the cor-
respondent account of a foreign bank that is maintained 
in the United States with a covered financial institution 
may be seized by the United States to satisfy any civil 
penalties that are imposed— 
‘‘(i) under subparagraph (C)(ii); 
‘‘(ii) by a court for contempt under subparagraph 
(D); or 
‘‘(iii) under subparagraph (E)(iii)(II).’’. 
(b) 
FAIR
CREDIT
REPORTING
ACT
AMENDMENT.—Section 
604(a)(1) of the Fair Credit Reporting Act (15 U.S.C. 1681b(a)(1)) 
is amended— 
(1) by striking ‘‘, or a’’ and inserting ‘‘, a’’; and 
(2) by inserting ‘‘, or a subpoena issued in accordance 
with section 5318 of title 31, United States Code, or section 
3486 of title 18, United States Code’’ after ‘‘grand jury’’. 
(c) OBSTRUCTION OF JUSTICE.—Section 1510(b)(3)(B) of title 18, 
United States Code, is amended— 
(1) in the matter preceding clause (i), by striking ‘‘or a 
Department of Justice subpoena (issued under section 3486 
of title 18)’’ and inserting ‘‘, a subpoena issued under section 
3486 of this title, or an order or subpoena issued in accordance 
with section 3512 of this title, section 5318 of title 31, or 
section 1782 of title 28’’; and 
(2) in clause (i), by inserting ‘‘, 1960, an offense against 
a foreign nation constituting specified unlawful activity under 
section 1956, a foreign offense for which enforcement of a 
foreign forfeiture judgment could be brought under section 2467 
of title 28’’ after ‘‘1957’’. 
(d) RIGHT TO FINANCIAL PRIVACY ACT.—Section 1120(b)(1)(A) 
of the Right to Financial Privacy Act of 1978 (12 U.S.C. 
3420(b)(1)(A)) is amended— 
(1) by striking ‘‘or 1957 of title 18’’ and inserting ‘‘, 1957, 
or 1960 of title 18, United States Code’’; and 
(2) by striking ‘‘and 5324 of title 31’’ and inserting ‘‘, 
5322, 5324, 5331, and 5332 of title 31, United States Code’’. 
SEC. 6309. ADDITIONAL DAMAGES FOR REPEAT BANK SECRECY ACT 
VIOLATORS. 
Section 5321 of title 31, United States Code, is amended by 
adding at the end the following: 
‘‘(f) ADDITIONAL DAMAGES FOR REPEAT VIOLATORS.— 
‘‘(1) IN GENERAL.—In addition to any other fines permitted 
under this section and section 5322, with respect to a person 
who has previously violated a provision of (or rule issued under) 
this subchapter, section 21 of the Federal Deposit Insurance 
Act (12 U.S.C. 1829b), or section 123 of Public Law 91–508 
(12 U.S.C. 1953), the Secretary of the Treasury, if practicable, 
may impose an additional civil penalty against such person 
for each additional such violation in an amount that is not 
more than the greater of— 
‘‘(A) if practicable to calculate, 3 times the profit gained 
or loss avoided by such person as a result of the violation; 
or 
‘‘(B) 2 times the maximum penalty with respect to 
the violation.
H. R. 6395—1208 
‘‘(2) APPLICATION.—For purposes of determining whether 
a person has committed a previous violation under paragraph 
(1), the determination shall only include violations occurring 
after the date of enactment of the Anti-Money Laundering 
Act of 2020.’’. 
SEC. 6310. CERTAIN VIOLATORS BARRED FROM SERVING ON BOARDS 
OF UNITED STATES FINANCIAL INSTITUTIONS. 
(a) IN GENERAL.—Section 5321 of title 31, United States Code, 
as amended by section 6309 of this division, is amended by adding 
at the end the following: 
‘‘(g) CERTAIN VIOLATORS BARRED FROM SERVING ON BOARDS 
OF UNITED STATES FINANCIAL INSTITUTIONS.— 
‘‘(1) DEFINITION.—In this subsection, the term ‘egregious 
violation’ means, with respect to an individual— 
‘‘(A) a criminal violation— 
‘‘(i) for which the individual is convicted; and 
‘‘(ii) for which the maximum term of imprisonment 
is more than 1 year; and 
‘‘(B) a civil violation in which— 
‘‘(i) the individual willfully committed the violation; 
and 
‘‘(ii) the violation facilitated money laundering or 
the financing of terrorism. 
‘‘(2) BAR.—An individual found to have committed an egre-
gious violation of the Bank Secrecy Act, as defined in section 
6003 of the Anti-Money Laundering Act of 2020, or any rules 
issued under the Bank Secrecy Act, shall be barred from serving 
on the board of directors of a United States financial institution 
during the 10-year period that begins on the date on which 
the conviction or judgment, as applicable, with respect to the 
egregious violation is entered.’’. 
(b) RULE OF CONSTRUCTION.—Nothing in the amendment made 
by subsection (a) shall be construed to limit the application of 
section 19 of the Federal Deposit Insurance Act (12 U.S.C. 1829). 
SEC. 6311. DEPARTMENT OF JUSTICE REPORT ON DEFERRED AND 
NON-PROSECUTION AGREEMENTS. 
(a) ANNUAL REPORT.—Not later than 1 year after the date 
of enactment of this Act, and for each of the 4 years thereafter, 
the Attorney General shall submit to the appropriate committees 
of Congress a report that contains— 
(1) a list of deferred prosecution agreements and non- 
prosecution agreements that the Attorney General has entered 
into, amended, or terminated during the year covered by the 
report with any person with respect to a violation or suspected 
violation of the Bank Secrecy Act (referred to in this subsection 
as ‘‘covered agreements’’); 
(2) the justification for entering into, amending, or termi-
nating each covered agreement; 
(3) the list of factors that were taken into account in 
determining that the Attorney General should enter into, 
amend, or terminate each covered agreement; and 
(4) the extent of coordination the Attorney General con-
ducted with the Secretary of the Treasury, Federal functional 
regulators, or State regulators before entering into, amending, 
or terminating each covered agreement.
H. R. 6395—1209 
(b) CLASSIFIED ANNEX.—Each report submitted under sub-
section (a) may include a classified annex. 
(c) DEFINITION.—In this section, the term ‘‘appropriate commit-
tees of Congress’’ means— 
(1) the Committee on Banking, Housing, and Urban Affairs 
of the Senate; 
(2) the Committee on the Judiciary of the Senate; 
(3) the Committee on Financial Services of the House of 
Representatives; and 
(4) the Committee on the Judiciary of the House of Rep-
resentatives. 
SEC. 6312. RETURN OF PROFITS AND BONUSES. 
(a) IN GENERAL.—Section 5322 of title 31, United States Code, 
is amended by adding at the end the following: 
‘‘(e) A person convicted of violating a provision of (or rule 
issued under) the Bank Secrecy Act, as defined in section 6003 
of the Anti-Money Laundering Act of 2020, shall— 
‘‘(1) in addition to any other fine under this section, be 
fined in an amount that is equal to the profit gained by such 
person by reason of such violation, as determined by the court; 
and 
‘‘(2) if the person is an individual who was a partner, 
director, officer, or employee of a financial institution at the 
time the violation occurred, repay to such financial institution 
any bonus paid to the individual during the calendar year 
in which the violation occurred or the calendar year after 
which the violation occurred.’’. 
(b) RULE OF CONSTRUCTION.—The amendment made by sub-
section (a) may not be construed to prohibit a financial institution 
from requiring the repayment of a bonus paid to a partner, director, 
officer, or employee if the financial institution determines that 
the partner, director, officer, or employee engaged in unethical, 
but non-criminal, activities. 
SEC. 6313. PROHIBITION ON CONCEALMENT OF THE SOURCE OF 
ASSETS IN MONETARY TRANSACTIONS. 
(a) IN GENERAL.—Subchapter II of chapter 53 of title 31, United 
States Code, as amended by sections 6306(a)(1) and 6307(a) of 
this division, is amended by adding at the end the following: 
‘‘§ 5335. Prohibition on concealment of the source of assets 
in monetary transactions 
‘‘(a) DEFINITION OF MONETARY TRANSACTION.—In this section, 
the term the term ‘monetary transaction’— 
‘‘(1) means the deposit, withdrawal, transfer, or exchange, 
in or affecting interstate or foreign commerce, of funds or 
a monetary instrument (as defined in section 1956(c)(5) of title 
18) by, through, or to a financial institution (as defined in 
section 1956(c)(6) of title 18); 
‘‘(2) includes any transaction that would be a financial 
transaction under section 1956(c)(4)(B) of title 18; and 
‘‘(3) does not include any transaction necessary to preserve 
the right to representation of a person as guaranteed by the 
Sixth Amendment to the Constitution of the United States. 
‘‘(b) PROHIBITION.—No person shall knowingly conceal, falsify, 
or misrepresent, or attempt to conceal, falsify, or misrepresent, 
from or to a financial institution, a material fact concerning the
H. R. 6395—1210 
ownership or control of assets involved in a monetary transaction 
if— 
‘‘(1) the person or entity who owns or controls the assets 
is a senior foreign political figure, or any immediate family 
member or close associate of a senior foreign political figure, 
as set forth in this title or the regulations promulgated under 
this title; and 
‘‘(2) the aggregate value of the assets involved in 1 or 
more monetary transactions is not less than $1,000,000. 
‘‘(c) SOURCE OF FUNDS.—No person shall knowingly conceal, 
falsify, or misrepresent, or attempt to conceal, falsify, or misrepre-
sent, from or to a financial institution, a material fact concerning 
the source of funds in a monetary transaction that— 
‘‘(1) involves an entity found to be a primary money laun-
dering concern under section 5318A or the regulations promul-
gated under this title; and 
‘‘(2) violates the prohibitions or conditions prescribed under 
section 5318A(b)(5) or the regulations promulgated under this 
title. 
‘‘(d) PENALTIES.—A person convicted of an offense under sub-
section (b) or (c), or a conspiracy to commit an offense under 
subsection (b) or (c), shall be imprisoned for not more than 10 
years, fined not more than $1,000,000, or both. 
‘‘(e) FORFEITURE.— 
‘‘(1) CRIMINAL FORFEITURE.— 
‘‘(A) IN GENERAL.—The court, in imposing a sentence 
under subsection (d), shall order that the defendant forfeit 
to the United States any property involved in the offense 
and any property traceable thereto. 
‘‘(B) PROCEDURE.—The seizure, restraint, and forfeiture 
of property under this paragraph shall be governed by 
section 413 of the Controlled Substances Act (21 U.S.C. 
853). 
‘‘(2) CIVIL FORFEITURE.— 
‘‘(A) IN GENERAL.—Any property involved in a violation 
of subsection (b) or (c), or a conspiracy to commit a violation 
of subsection (b) or (c), and any property traceable thereto 
may be seized and forfeited to the United States. 
‘‘(B) PROCEDURE.—Seizures and forfeitures under this 
paragraph shall be governed by the provisions of chapter 
46 of title 18 relating to civil forfeitures, except that such 
duties, under the customs laws described in section 981(d) 
of title 18, given to the Secretary of the Treasury shall 
be performed by such officers, agents, and other persons 
as may be designated for that purpose by the Secretary 
of Homeland Security or the Attorney General.’’. 
(b) TECHNICAL AND CONFORMING AMENDMENT.—The table of 
sections for chapter 53 of title 31, United States Code, as amended 
by sections 6306(b)(1) and 6307(b) of this division, is amended 
by adding at the end the following: 
‘‘5335. Prohibition on concealment of the source of assets in monetary transactions.’’. 
SEC. 6314. UPDATING WHISTLEBLOWER INCENTIVES AND PROTEC-
TION. 
(a) WHISTLEBLOWER INCENTIVES
AND PROTECTION.—Section 
5323 of title 31, United States Code, is amended to read as follows:
H. R. 6395—1211 
‘‘§ 5323. Whistleblower incentives and protections 
‘‘(a) DEFINITIONS.—In this section: 
‘‘(1) COVERED JUDICIAL OR ADMINISTRATIVE ACTION.—The 
term ‘covered judicial or administrative action’ means any 
judicial or administrative action brought by the Secretary of 
the Treasury (referred to in this section as the ‘Secretary’) 
or the Attorney General under this subchapter or subchapter 
III that results in monetary sanctions exceeding $1,000,000. 
‘‘(2) MONETARY SANCTIONS.—The term ‘monetary sanctions’, 
when used with respect to any judicial or administrative 
action— 
‘‘(A) 
means 
any 
monies, 
including 
penalties, 
disgorgement, and interest, ordered to be paid; and 
‘‘(B) does not include— 
‘‘(i) forfeiture; 
‘‘(ii) restitution; or 
‘‘(iii) any victim compensation payment. 
‘‘(3) ORIGINAL INFORMATION.—The term ‘original informa-
tion’ means information that— 
‘‘(A) is derived from the independent knowledge or 
analysis of a whistleblower; 
‘‘(B) is not known to the Secretary or the Attorney 
General from any other source, unless the whistleblower 
is the original source of the information; and 
‘‘(C) is not exclusively derived from an allegation made 
in a judicial or administrative hearing, in a governmental 
report, hearing, audit, or investigation, or from the news 
media, unless the whistleblower is a source of the informa-
tion. 
‘‘(4) RELATED ACTION.—The term ‘related action’, when used 
with respect to any judicial or administrative action brought 
by the Secretary or the Attorney General under this subchapter 
or subchapter III, means any judicial or administrative action 
brought by an entity described in any of subclauses (I) through 
(III) of subsection (g)(4)(D)(i) that is based upon the original 
information provided by a whistleblower pursuant to subsection 
(b) that led to the successful enforcement of the action by 
the Secretary or the Attorney General. 
‘‘(5) WHISTLEBLOWER.— 
‘‘(A) IN GENERAL.—The term ‘whistleblower’ means any 
individual who provides, or 2 or more individuals acting 
jointly who provide, information relating to a violation 
of this subchapter or subchapter III to the employer of 
the individual or individuals, including as part of the job 
duties of the individual or individuals, or to the Secretary 
or the Attorney General. 
‘‘(B) SPECIAL RULE.—Solely for the purposes of sub-
section (g)(1), the term ‘whistleblower’ includes any indi-
vidual who takes, or 2 or more individuals acting jointly 
who take, an action described in subsection (g)(1)(A). 
‘‘(b) AWARDS.— 
‘‘(1) IN GENERAL.—In any covered judicial or administrative 
action, or related action, the Secretary, under regulations pre-
scribed by the Secretary, in consultation with the Attorney 
General and subject to subsection (c) and to amounts made 
available in advance by appropriation Acts, shall pay an award 
or awards to 1 or more whistleblowers who voluntarily provided
H. R. 6395—1212 
original information to the employer of the individual, the 
Secretary, or the Attorney General, as applicable, that led 
to the successful enforcement of the covered judicial or adminis-
trative action, or related action, in an aggregate amount equal 
to not more than 30 percent, in total, of what has been collected 
of the monetary sanctions imposed in the action or related 
actions. 
‘‘(2) SOURCE OF AWARDS.—For the purposes of paying any 
award under this section, the Secretary may, subject to amounts 
made available in advance by appropriation Acts, use monetary 
sanction amounts recovered based on the original information 
with respect to which the award is being paid. 
‘‘(c) DETERMINATION
OF
AMOUNT
OF
AWARD; DENIAL
OF 
AWARD.— 
‘‘(1) DETERMINATION OF AMOUNT OF AWARD.— 
‘‘(A) DISCRETION.—The determination of the amount 
of an award made under subsection (b) shall be in the 
discretion of the Secretary. 
‘‘(B) CRITERIA.—In determining the amount of an 
award made under subsection (b), the Secretary shall take 
into consideration— 
‘‘(i) the significance of the information provided 
by the whistleblower to the success of the covered 
judicial or administrative action; 
‘‘(ii) the degree of assistance provided by the 
whistleblower and any legal representative of the 
whistleblower in a covered judicial or administrative 
action; 
‘‘(iii) the programmatic interest of the Department 
of the Treasury in deterring violations of this sub-
chapter and subchapter III by making awards to 
whistleblowers who provide information that lead to 
the successful enforcement of either such subchapter; 
and 
‘‘(iv) such additional relevant factors as the Sec-
retary, in consultation with the Attorney General, may 
establish by rule or regulation. 
‘‘(2) DENIAL OF AWARD.—No award under subsection (b) 
may be made— 
‘‘(A) to any whistleblower who is, or was at the time 
the whistleblower acquired the original information sub-
mitted to the Secretary or the Attorney General, as 
applicable, a member, officer, or employee— 
‘‘(i) of— 
‘‘(I) an appropriate regulatory or banking 
agency; 
‘‘(II) the Department of the Treasury or the 
Department of Justice; or 
‘‘(III) a law enforcement agency; and 
‘‘(ii) acting in the normal course of the job duties 
of the whistleblower; 
‘‘(B) to any whistleblower who is convicted of a criminal 
violation related to the judicial or administrative action 
for which the whistleblower otherwise could receive an 
award under this section; or 
‘‘(C) to any whistleblower who fails to submit informa-
tion to the Secretary or the Attorney General, as applicable,
H. R. 6395—1213 
in such form as the Secretary, in consultation with the 
Attorney General, may, by rule, require. 
‘‘(d) REPRESENTATION.— 
‘‘(1) PERMITTED REPRESENTATION.—Any whistleblower who 
makes a claim for an award under subsection (b) may be 
represented by counsel. 
‘‘(2) REQUIRED REPRESENTATION.— 
‘‘(A) IN
GENERAL.—Any whistleblower who anony-
mously makes a claim for an award under subsection (b) 
shall be represented by counsel if the whistleblower anony-
mously submits the information upon which the claim is 
based. 
‘‘(B) DISCLOSURE
OF
IDENTITY.—Before the payment 
of an award, a whistleblower shall disclose the identity 
of the whistleblower and provide such other information 
as the Secretary may require, directly or through counsel 
for the whistleblower. 
‘‘(e) NO CONTRACT NECESSARY.—No contract with the Depart-
ment of the Treasury is necessary for any whistleblower to receive 
an award under subsection (b), unless otherwise required by the 
Secretary by rule or regulation. 
‘‘(f) APPEALS.— 
‘‘(1) IN GENERAL.—Any determination made under this sec-
tion, including whether, to whom, or in what amount to make 
awards, shall be in the discretion of the Secretary. 
‘‘(2) REQUIREMENTS.— 
‘‘(A) IN
GENERAL.—Any determination described in 
paragraph (1), except the determination of the amount 
of an award if the award was made in accordance with 
subsection (b), may be appealed to the appropriate court 
of appeals of the United States not more than 30 days 
after the determination is issued by the Secretary. 
‘‘(B) SCOPE OF REVIEW.—The court to which a deter-
mination by the Secretary is appealed under subparagraph 
(A) shall review the determination in accordance with sec-
tion 706 of title 5. 
‘‘(g) PROTECTION OF WHISTLEBLOWERS.— 
‘‘(1) PROHIBITION AGAINST RETALIATION.—No employer may, 
directly or indirectly, discharge, demote, suspend, threaten, 
blacklist, harass, or in any other manner discriminate against 
a whistleblower in the terms and conditions of employment 
or post-employment because of any lawful act done by the 
whistleblower— 
‘‘(A) in providing information in accordance with this 
section to— 
‘‘(i) the Secretary or the Attorney General; 
‘‘(ii) a Federal regulatory or law enforcement 
agency; 
‘‘(iii) any Member of Congress or any committee 
of Congress; or 
‘‘(iv) a person with supervisory authority over the 
whistleblower, or such other person working for the 
employer who has the authority to investigate, dis-
cover, or terminate misconduct; or 
‘‘(B) in initiating, testifying in, or assisting in any 
investigation or judicial or administrative action of the 
Department of the Treasury or the Department of Justice
H. R. 6395—1214 
based upon or related to the information described in 
subparagraph (A); or 
‘‘(C) in providing information regarding any conduct 
that the whistleblower reasonably believes constitutes a 
violation of any law, rule, or regulation subject to the 
jurisdiction of the Department of the Treasury, or a viola-
tion of section 1956, 1957, or 1960 of title 18 (or any 
rule or regulation under any such provision), to— 
‘‘(i) a person with supervisory authority over the 
whistleblower at the employer of the whistleblower; 
or 
‘‘(ii) another individual working for the employer 
described in clause (i) who the whistleblower reason-
ably believes has the authority to— 
‘‘(I) investigate, discover, or terminate the mis-
conduct; or 
‘‘(II) take any other action to address the mis-
conduct. 
‘‘(2) ENFORCEMENT.—Any individual who alleges discharge 
or other discrimination, or is otherwise aggrieved by an 
employer, in violation of paragraph (1), may seek relief by— 
‘‘(A) filing a complaint with the Secretary of Labor 
in accordance with the requirements of this subsection; 
or 
‘‘(B) if the Secretary of Labor has not issued a final 
decision within 180 days of the filing of a complaint under 
subparagraph (A), and there is no showing that such a 
delay is due to the bad faith of the claimant, bringing 
an action against the employer at law or in equity in 
the appropriate district court of the United States, which 
shall have jurisdiction over such an action without regard 
to the amount in controversy. 
‘‘(3) PROCEDURE.— 
‘‘(A) DEPARTMENT OF LABOR COMPLAINT.— 
‘‘(i) IN
GENERAL.—Except as provided in clause 
(ii) and subparagraph (C), the requirements under sec-
tion 42121(b) of title 49, including the legal burdens 
of proof described in such section 42121(b), shall apply 
with respect to a complaint filed under paragraph 
(2)(A) by an individual against an employer. 
‘‘(ii) EXCEPTION.—With respect to a complaint filed 
under paragraph (2)(A), notification required to be 
made under section 42121(b)(1) of title 49 shall be 
made to each person named in the complaint, including 
the employer. 
‘‘(B) DISTRICT COURT COMPLAINT.— 
‘‘(i) JURY
TRIAL.—A party to an action brought 
under paragraph (2)(B) shall be entitled to trial by 
jury. 
‘‘(ii) STATUTE OF LIMITATIONS.— 
‘‘(I) IN
GENERAL.—An action may not be 
brought under paragraph (2)(B)— 
‘‘(aa) more than 6 years after the date 
on which the violation of paragraph (1) occurs; 
or 
‘‘(bb) more than 3 years after the date 
on which when facts material to the right
H. R. 6395—1215 
of action are known, or reasonably should have 
been known, by the employee alleging a viola-
tion of paragraph (1). 
‘‘(II) REQUIRED ACTION WITHIN 10 YEARS.—Not-
withstanding subclause (I), an action under para-
graph (2)(B) may not in any circumstance be 
brought more than 10 years after the date on 
which the violation occurs. 
‘‘(C) RELIEF.—Relief for an individual prevailing with 
respect to a complaint filed under subparagraph (A) of 
paragraph (2) or an action brought under subparagraph 
(B) of that paragraph shall include— 
‘‘(i) reinstatement with the same seniority status 
that the individual would have had, but for the conduct 
that is the subject of the complaint or action, as 
applicable; 
‘‘(ii) 2 times the amount of back pay otherwise 
owed to the individual, with interest; 
‘‘(iii) the payment of compensatory damages, which 
shall include compensation for litigation costs, expert 
witness fees, and reasonable attorneys’ fees; and 
‘‘(iv) any other appropriate remedy with respect 
to the conduct that is the subject of the complaint 
or action, as applicable. 
‘‘(4) CONFIDENTIALITY.— 
‘‘(A) IN
GENERAL.—Except as provided in subpara-
graphs (C) and (D), the Secretary or the Attorney General, 
as applicable, and any officer or employee of the Depart-
ment of the Treasury or the Department of Justice, shall 
not disclose any information, including information pro-
vided by a whistleblower to either such official, which 
could reasonably be expected to reveal the identity of a 
whistleblower, except in accordance with the provisions 
of section 552a of title 5, unless and until required to 
be disclosed to a defendant or respondent in connection 
with a public proceeding instituted by the appropriate such 
official or any entity described in subparagraph (D). 
‘‘(B) EXEMPTED STATUTE.—For purposes of section 552 
of title 5, this paragraph shall be considered a statute 
described in subsection (b)(3)(B) of such section 552. 
‘‘(C) RULE OF CONSTRUCTION.—Nothing in this section 
is intended to limit, or shall be construed to limit, the 
ability of the Attorney General to present such evidence 
to a grand jury or to share such evidence with potential 
witnesses or defendants in the course of an ongoing 
criminal investigation. 
‘‘(D) AVAILABILITY TO GOVERNMENT AGENCIES.— 
‘‘(i) IN GENERAL.—Without the loss of its status 
as confidential in the hands of the Secretary or the 
Attorney General, as applicable, all information 
referred to in subparagraph (A) may, in the discretion 
of the appropriate such official, when determined by 
that official to be necessary to accomplish the purposes 
of this subchapter, be made available to— 
‘‘(I) any appropriate Federal authority; 
‘‘(II) a State attorney general in connection 
with any criminal investigation;
H. R. 6395—1216 
‘‘(III) 
any 
appropriate 
State 
regulatory 
authority; and 
‘‘(IV) a foreign law enforcement authority. 
‘‘(ii) CONFIDENTIALITY.— 
‘‘(I) 
IN
GENERAL.—Each 
of 
the 
entities 
described in subclauses (I) through (III) of clause 
(i) shall maintain such information as confidential 
in accordance with the requirements established 
under subparagraph (A). 
‘‘(II) 
FOREIGN
AUTHORITIES.—Each 
entity 
described in clause (i)(IV) shall maintain such 
information in accordance with such assurances 
of confidentiality as determined by the Secretary 
or Attorney General, as applicable. 
‘‘(5) RIGHTS RETAINED.—Nothing in this section shall be 
deemed to diminish the rights, privileges, or remedies of any 
whistleblower under any Federal or State law or under any 
collective bargaining agreement. 
‘‘(6) COORDINATION WITH OTHER PROVISIONS OF LAW.—This 
subsection shall not apply with respect to any employer that 
is subject to section 33 of the Federal Deposit Insurance Act 
(12 U.S.C. 1831j) or section 213 or 214 of the Federal Credit 
Union Act (12 U.S.C. 1790b, 1790c). 
‘‘(h) PROVISION OF FALSE INFORMATION.—A whistleblower shall 
not be entitled to an award under this section if the whistleblower— 
‘‘(1) knowingly and willfully makes any false, fictitious, 
or fraudulent statement or representation; or 
‘‘(2) uses any false writing or document knowing the writing 
or document contains any false, fictitious, or fraudulent state-
ment or entry. 
‘‘(i) RULEMAKING AUTHORITY.—The Secretary, in consultation 
with the Attorney General, shall have the authority to issue such 
rules and regulations as may be necessary or appropriate to imple-
ment the provisions of this section consistent with the purposes 
of this section. 
‘‘(j) NONENFORCEABILITY
OF
CERTAIN
PROVISIONS
WAIVING 
RIGHTS AND REMEDIES OR REQUIRING ARBITRATION OF DISPUTES.— 
‘‘(1) WAIVER OF RIGHTS AND REMEDIES.—The rights and 
remedies provided for in this section may not be waived by 
any agreement, policy form, or condition of employment, 
including by a predispute arbitration agreement. 
‘‘(2) PREDISPUTE ARBITRATION AGREEMENTS.—No predispute 
arbitration agreement shall be valid or enforceable, to the 
extent the agreement requires arbitration of a dispute arising 
under this section.’’. 
(b) REPEAL OF SECTION 5328 OF TITLE 31.—Section 5328 of 
title 31, United States Code, is repealed. 
(c) TECHNICAL AND CONFORMING AMENDMENTS.—The table of 
sections for subchapter II of chapter 53 of title 31, United States 
Code, is amended— 
(1) by striking the item relating to section 5323 and 
inserting the following: 
‘‘5323. Whistleblower incentives and protections.’’; and 
(2) by striking the item relating to section 5328.
H. R. 6395—1217 
TITLE 
LXIV—ESTABLISHING 
BENE-
FICIAL 
OWNERSHIP 
INFORMATION 
REPORTING REQUIREMENTS 
Sec. 6401. Short title. 
Sec. 6402. Sense of Congress. 
Sec. 6403. Beneficial ownership information reporting requirements. 
SEC. 6401. SHORT TITLE. 
This title may be cited as the ‘‘Corporate Transparency Act’’. 
SEC. 6402. SENSE OF CONGRESS. 
It is the sense of Congress that— 
(1) more than 2,000,000 corporations and limited liability 
companies are being formed under the laws of the States each 
year; 
(2) most or all States do not require information about 
the beneficial owners of the corporations, limited liability 
companies, or other similar entities formed under the laws 
of the State; 
(3) malign actors seek to conceal their ownership of corpora-
tions, limited liability companies, or other similar entities in 
the United States to facilitate illicit activity, including money 
laundering, the financing of terrorism, proliferation financing, 
serious tax fraud, human and drug trafficking, counterfeiting, 
piracy, securities fraud, financial fraud, and acts of foreign 
corruption, harming the national security interests of the 
United States and allies of the United States; 
(4) money launderers and others involved in commercial 
activity intentionally conduct transactions through corporate 
structures in order to evade detection, and may layer such 
structures, much like Russian nesting ‘‘Matryoshka’’ dolls, 
across various secretive jurisdictions such that each time an 
investigator obtains ownership records for a domestic or foreign 
entity, the newly identified entity is yet another corporate 
entity, necessitating a repeat of the same process; 
(5) Federal legislation providing for the collection of bene-
ficial ownership information for corporations, limited liability 
companies, or other similar entities formed under the laws 
of the States is needed to— 
(A) set a clear, Federal standard for incorporation prac-
tices; 
(B) protect vital Unites States national security 
interests; 
(C) protect interstate and foreign commerce; 
(D) better enable critical national security, intelligence, 
and law enforcement efforts to counter money laundering, 
the financing of terrorism, and other illicit activity; and 
(E) bring the United States into compliance with inter-
national 
anti-money 
laundering 
and 
countering 
the 
financing of terrorism standards; 
(6) beneficial ownership information collected under the 
amendments made by this title is sensitive information and 
will be directly available only to authorized government authori-
ties, subject to effective safeguards and controls, to—
H. R. 6395—1218 
(A) facilitate important national security, intelligence, 
and law enforcement activities; and 
(B) confirm beneficial ownership information provided 
to financial institutions to facilitate the compliance of the 
financial institutions with anti-money laundering, coun-
tering the financing of terrorism, and customer due dili-
gence requirements under applicable law; 
(7) consistent with applicable law, the Secretary of the 
Treasury shall— 
(A) maintain the information described in paragraph 
(1) in a secure, nonpublic database, using information secu-
rity methods and techniques that are appropriate to protect 
nonclassified information systems at the highest security 
level; and 
(B) take all steps, including regular auditing, to ensure 
that government authorities accessing beneficial ownership 
information do so only for authorized purposes consistent 
with this title; and 
(8) in prescribing regulations to provide for the reporting 
of beneficial ownership information, the Secretary shall, to 
the greatest extent practicable consistent with the purposes 
of this title— 
(A) seek to minimize burdens on reporting companies 
associated with the collection of beneficial ownership 
information; 
(B) provide clarity to reporting companies concerning 
the identification of their beneficial owners; and 
(C) collect information in a form and manner that 
is reasonably designed to generate a database that is highly 
useful to national security, intelligence, and law enforce-
ment agencies and Federal functional regulators. 
SEC. 
6403. 
BENEFICIAL 
OWNERSHIP 
INFORMATION 
REPORTING 
REQUIREMENTS. 
(a) IN GENERAL.—Subchapter II of chapter 53 of title 31, United 
States Code, as amended by sections 6306(a)(1), 6307(a), and 
6313(a) of this division, is amended by adding at the end the 
following: 
‘‘§ 5336. Beneficial ownership information reporting require-
ments 
‘‘(a) DEFINITIONS.—In this section: 
‘‘(1) ACCEPTABLE
IDENTIFICATION
DOCUMENT.—The term 
‘acceptable identification document’ means, with respect to an 
individual— 
‘‘(A) a nonexpired passport issued by the United States; 
‘‘(B) a nonexpired identification document issued by 
a State, local government, or Indian Tribe to the individual 
acting for the purpose of identification of that individual; 
‘‘(C) a nonexpired driver’s license issued by a State; 
or 
‘‘(D) if the individual does not have a document 
described in subparagraph (A), (B), or (C), a nonexpired 
passport issued by a foreign government. 
‘‘(2) APPLICANT.—The term ‘applicant’ means any individual 
who—