FinCEN issues proposed update to DoEP report
June 15, 2017 / By ICBA
On June 13, 2017 the Financial Crimes Enforcement Network (FinCEN) published in the Federal Register a Notice and Request for Comments on a proposed update and renewal of the collection of information through the Designation of Exempt Person (DoEP) report used to designate eligible customers as exempt from CTR reporting requirements.
FinCEN is proposing to remove the reference to “Document Control Number”, which is no longer in use, and add a country field to accommodate reporting from U.S. territories in Part II following current item 11, and part III following the current item 23.
Written comments are welcome and must be received on or before August 14, 2017.
Read the proposed rule.
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