I 
118TH CONGRESS 
2D SESSION 
H. R. 8686 
To update thresholds for certain currency transaction reports and suspicious 
activity reports, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 11, 2024 
Mr. LOUDERMILK (for himself, Mr. MEUSER, and Mr. DONALDS) introduced 
the following bill; which was referred to the Committee on Financial Services 
A BILL 
To update thresholds for certain currency transaction reports 
and suspicious activity reports, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Financial Reporting 
Threshold Modernization Act’’. 
SEC. 2. UPDATING THRESHOLDS FOR CERTAIN CURRENCY 
TRANSACTION REPORTS AND SUSPICIOUS 
ACTIVITY REPORTS. 
(a) THRESHOLDS FOR CERTAIN CURRENCY TRANS-
ACTION REPORTS.— 
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(1) CURRENCY
TRANSACTION
REPORTS.—The 
Secretary of the Treasury shall— 
(A) not later than the end of the 180-day 
period beginning on the date of the enactment 
of this Act, revise regulations issued with re-
spect to section 5313 of title 31, United States 
Code, to update each $10,000 threshold amount 
in such regulations to $60,000; and 
(B) annually update each such threshold 
amount to reflect the change in the Consumer 
Price Index for All Urban Consumers published 
by the Bureau of Labor Statistics of the De-
partment of Labor. 
(2) THRESHOLD FOR REPORTS RELATING TO 
COINS AND CURRENCY RECEIVED IN NONFINANCIAL 
TRADE
OR
BUSINESS.—Section 5331 of title 31, 
United States Code, is amended— 
(A) by striking ‘‘$10,000’’ each place such 
term appears in heading or text and inserting 
‘‘$60,000’’; and 
(B) by adding at the end the following: 
‘‘(e) UPDATES FOR INFLATION.—The Secretary of 
the Treasury shall annually update each dollar figure 
under this section to reflect the change in the Consumer 
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Price Index for All Urban Consumers published by the 
Bureau of Labor Statistics of the Department of Labor.’’. 
(b) THRESHOLDS
FOR SUSPICIOUS ACTIVITY RE-
PORTS.—Not later than the end of the 180-day period be-
ginning on the date of the enactment of this Act, each 
Federal department or agency that issues regulations with 
respect to reports on suspicious transactions described 
under section 5318(g) of title 31, United States Code, 
shall update each $5,000 threshold amount in such regula-
tions to $10,000 and each $2,000 threshold amount in 
such regulation to $3,000. 
(c) UPDATING
THE MONEY SERVICES BUSINESS 
DEFINITION THRESHOLDS.—Not later than the end of the 
180-day period beginning on the date of the enactment 
of this Act, the Secretary of the Treasury shall revise sec-
tion 1010.100(ff) of title 31, Code of Federal Regulations, 
to update each $1,000 threshold amount in such regula-
tions to $3,000. 
Æ 
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