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FinCEN Weighing Revisions to FBAR, Form 8300 and CMIR
By Colby Adams
printThe U.S. Treasury Department is considering revising forms used to declare overseas assets and the transport of cash in and out of the country, an official disclosed Wednesday. The Financial Crimes Enforcement Network (FinCEN) has been reviewing the utility of certain data fields included in Reports of Foreign Bank or Financial Accounts (FBARs), said Ken O'Brien, FinCEN's chief technology officer, during an online conference hosted by the Association of Certified Anti-Money Laundering Specialists (ACAMS). In addition to changing the FBAR, FinCEN will weigh whether to redesign Form 8300 and the Currency and Monetary Instruments Report, said Jasmine Faubert, a systems...
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