§ 1010.821 - Penalty adjustment and table.

§ 1010.821 Penalty adjustment and table.

(a) Inflation adjustments. In accordance with the Federal Civil Penalties Inflation Adjustment Act of 1990, 28 U.S.C. 2461 note, (“FCPIA Act”), as further amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015, FinCEN has set forth in paragraph (b) of this section adjusted maximum penalty amounts for each civil monetary penalty provided by law within its jurisdiction that is subject to the FCPIA Act. The adjusted civil monetary penalty amounts replace the amounts published in the statutes authorizing the assessment of penalties.

(b) Maximum civil monetary penalties. The statutory penalty provisions and their adjusted maximum amounts or range of minimum and maximum amounts are set out in Table 1. The last column in the table provides the newly effective maximum penalty amounts or range of minimum and maximum amounts. These maximum penalty amounts do not, however, limit the total amount of a penalty in the case of a penalty that may be imposed for each day a violation continues.

Table 1 of to § 1010.821—Penalty Adjustment Table

U.S. Code citation	Civil monetary penalty description	Penalties as last amended by statute	Maximum penalty amounts or range of minimum and maximum penalty amounts for penalties assessed on or after 1/19/2023 January 25, 2024
12 U.S.C. 1829b(j)	Relating to Recordkeeping Violations For for Funds Transfers	$10,000$24	$25,793 597
12 U.S.C. 1955	Willful or Grossly Negligent Recordkeeping Violations	10,00024	25,793 597
31 U.S.C. 5318(k)(3)(C)	Failure to To Terminate Correspondent Relationship with Foreign Bank	10,00016	17,771 315
31 U.S.C. 5321(a)(1)	General Civil Penalty Provision for Willful Violations of Bank Secrecy Act Requirements	25,000–100,00067	69,544–270733–278,180 937
31 U.S.C. 5321(a)(5)(B)(i)	Foreign Financial Agency Transaction—Non-Willful Violation of Transaction	10,00015	16,611 117
31 U.S.C. 5321(a)(5)(C)(i)(I)	Foreign Financial Agency Transaction—Willful Violation of Transaction	100,000156	161,107 166
31 U.S.C. 5321(a)(6)(A)	Negligent Violation by Financial Institution or Non-Financial Trade or Business	500	1,350 394
31 U.S.C. 5321(a)(6)(B)	Pattern of Negligent Activity by Financial Institution or Non-Financial Trade or Business	50,000105	108,083 489
31 U.S.C. 5321(a)(7)	Violation of Certain Due Diligence Requirements, Prohibition on Correspondent Accounts for Shell Banks, and Special Measures	1,000,000	1,677731,030 383
31 U.S.C. 5330(e)	Civil Penalty for Failure to To Register as Money Transmitting Business	5,000	9,966	10,289
31 U.S.C. 5336(h)(3)(A)(i)	Civil Penalty for Beneficial Ownership Information Reporting Violation	500	591
31 U.S.C. 5336(h)(3)(B)(i)	Civil Penalty for Unauthorized Disclosure or Use of Beneficial Ownership Information	500	591

[81 FR 42505, June 30, 2016, as amended at 82 FR 10439, Feb. 10, 2017; 83 FR 11881, Mar. 19, 2018; 85 FR 9371, Feb. 19, 2020; 86 FR 7349, Jan. 28, 2020; 86 FR 7810, Feb. 2, 2021; 87 FR 3434, Jan. 24, 2022; 88 FR 3312, Jan. 19, 2023; 88 FR 7357, Feb. 3, 2023; 89 FR 4821, Jan. 25, 2024]