TREASURY DIRECTIVE 15-41

Date: December 1, 1992

Sunset Review: TBD

Expiration Date: TBD

SUBJECT: Bank Secrecy Act -- Internal Revenue Service

1. DELEGATION. This directive delegates to the Commissioner of Internal Revenue the following functions, rights, privileges, powers and duties necessary to carry out the Department of the Treasury responsibilities under the Bank Secrecy Act Regulations:

a. Authority to:

(1) initiate investigations of any person, including banks and brokers or dealers in securities, for possible criminal violations of 31 Code of Federal Regulations (CFR) Part 103 (except violations of section 103.23);

(2) grant exemptions from the reporting requirement contained in 31 CFR 103.22;

(3) issue requests for lists of financial institution customers whose currency transactions have been exempted from the reporting requirement in 31 CFR 103.22;

(4) direct banks to file currency transaction reports as prescribed in 31 CFR 103.22(a) with respect to customers whose transactions had been previously exempted or otherwise not filed;

(5) disseminate copies of the reports required under the provisions of the Department of the Treasury regulations (31 CFR Part 103) subject to the guidelines and procedures which have been approved by the Assistant Secretary (Enforcement);

(6) investigate possible violations of the regulations with respect to violations of 31 CFR 103.24 and 103.32, the regulations on reporting and record keeping on foreign bank accounts;

(7) issue requests to financial institutions for chronological logs required to be maintained by 31 CFR 103.29; and

(8) issuance of summons as authorized by 31 CFR 103.61 and 103.62(b), except with respect to section 103.23.

b. Responsibility to examine and assure compliance with the requirements of 31 CFR Part 103 by all financial institutions, except brokers or dealers in securities and the U.S. Postal Service, not currently examined by Federal bank supervisory agencies for safety and soundness.

2. REDELEGATION. The Commissioner may redelegate this authority.

3. CANCELLATION. This directive supersedes the following Treasury Directives (TD):

a. TD 15-41, "Currency and Foreign Transactions Reporting Act -- Internal Revenue Service, dated December 8, 1987; and

b. TD 15-03, "Delegation of Authority of Analysis Function of Bank Secrecy Act Data," dated November 10, 1988.

4. OFFICE OF PRIMARY INTEREST. Office of the Assistant Secretary (Enforcement).

Peter K. Nunez

Assistant Secretary (Enforcement)