Financial Reporting Threshold Modernization Act
Official title: To update thresholds for certain currency transaction reports and suspicious activity reports, and for other purposes.
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Placed on the Union Calendar, Calendar No. 478.
Financial Reporting Threshold Modernization Act
This bill increases the threshold amounts for certain reporting by financial institutions, adjusts these amounts periodically for inflation, and requires a review of specified financial forms and reporting requirements.
The bill increases the threshold dollar amounts above which financial institutions are required to file currency-transaction and suspicious-activity reports with the Financial Crimes Enforcement Network (FinCEN). The bill also increases the transaction threshold above which an entity must register with FinCEN as a money services business. Further, these amounts must be updated every five years to reflect the change in the consumer price index.
Treasury must review and report on the effectiveness and efficiency of the forms and requirements regarding domestic coin and currency transactions, foreign currency transactions, and anti-money laundering and combating the financing of terrorism measures, among other matters. Treasury must also make appropriate updates to such forms.
The bill also extends through 2031 the requirement that the director of FinCEN must be made annually available for testimony before congressional committees regarding certain FinCEN issues, including resources needed to implement beneficial ownership reporting requirements.
- Introduced in House Formatted Text PDF Formatted XML
- Reported in House Formatted Text PDF Formatted XML
- GOWEST CREDIT UNION ASSOCIATION
- JPMORGAN CHASE HOLDINGS LLC
- AMERICAN BANKERS ASSOCIATION
- CHAMBER OF COMMERCE OF THE U.S.A.
- BANK OF AMERICA CORPORATION
- MONEYGRAM INTERNATIONAL INC.
Bodies those filers lobbied
- HOUSE OF REPRESENTATIVES
- SENATE
- Treasury, Dept of
- Consumer Financial Protection Bureau (CFPB)
- Federal Reserve System
- Executive Office of the President (EOP)
- Small Business Administration (SBA)
- Defense, Dept of (DOD)
Cite this page
U.S. Congress. (2026). H.R. 1799: Financial Reporting Threshold Modernization Act. 119th Congress. Open America. https://openamerica.io/bill/119-HR-1799/
"H.R. 1799: Financial Reporting Threshold Modernization Act." 119th Congress, 2026, Open America, https://openamerica.io/bill/119-HR-1799/.
H.R. 1799, 119th Cong. (2026), https://openamerica.io/bill/119-HR-1799/.
[H.R. 1799: Financial Reporting Threshold Modernization Act](https://openamerica.io/bill/119-HR-1799/)