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31 U.S.C. · Money and Finance
31 U.S.C. § 5325

Identification required to purchase certain monetary instruments

Ch. 53 — Monetary Transactions
Title 31 U.S.C. ● ACTIVE Primary Source Ch. 53
Statutory Text

31 U.S.C. § 5325 — Identification required to purchase certain monetary instruments

U.S.C. Title 31 - MONEY AND FINANCE 31 U.S.C. United States Code, 2023 Edition Title 31 - MONEY AND FINANCE SUBTITLE IV - MONEY CHAPTER 53 - MONETARY TRANSACTIONS SUBCHAPTER II - RECORDS AND REPORTS ON MONETARY INSTRUMENTS TRANSACTIONS Sec. 5325 - Identification required to purchase certain monetary instruments From the U.S. Government Publishing Office, www.gpo.gov

§5325. Identification required to purchase certain monetary instruments

(a) In General.—No financial institution may issue or sell a bank check, cashier's check, traveler's check, or money order to any individual in connection with a transaction or group of such contemporaneous transactions which involves United States coins or currency (or such other monetary instruments as the Secretary may prescribe) in amounts or denominations of $3,000 or more unless— (1) the individual has a transaction account with such financial institution and the financial institution— (A) verifies that fact through a signature card or other information maintained by such institution in connection with the account of such individual; and (B) records the method of verification in accordance with regulations which the Secretary of the Treasury shall prescribe; or

(2) the individual furnishes the financial institution with such forms of identification as the Secretary of the Treasury may require in regulations which the Secretary shall prescribe and the financial institution verifies and records such information in accordance with regulations which such Secretary shall prescribe.

(b) Report to Secretary Upon Request.—Any information required to be recorded by any financial institution under paragraph (1) or (2) of subsection (a) shall be reported by such institution to the Secretary of the Treasury at the request of such Secretary. (c) Transaction Account Defined.—For purposes of this section, the term "transaction account" has the meaning given to such term in section 19(b)(1)(C) of the Federal Reserve Act.

(Added Pub. L. 100–690, title VI, §6185(b), Nov. 18, 1988, 102 Stat. 4355.)

Editorial Notes

References in Text Section 19(b)(1)(C) of the Federal Reserve Act, referred to in subsec. (c), is classified to section 461(b)(1)(C) of Title 12, Banks and Banking.

Source: uscode.house.gov — public domain Official Source ↗
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Ch. 53 — Monetary Transactions
31 U.S.C. § 530131 U.S.C. § 530231 U.S.C. § 530331 U.S.C. § 530431 U.S.C. § 531131 U.S.C. § 531231 U.S.C. § 531331 U.S.C. § 531431 U.S.C. § 531531 U.S.C. § 531631 U.S.C. § 531731 U.S.C. § 531831 U.S.C. § 5318A31 U.S.C. § 531931 U.S.C. § 532031 U.S.C. § 532131 U.S.C. § 532231 U.S.C. § 532331 U.S.C. § 532431 U.S.C. § 532531 U.S.C. § 532631 U.S.C. § 532731 U.S.C. § 532831 U.S.C. § 532931 U.S.C. § 533031 U.S.C. § 533131 U.S.C. § 533231 U.S.C. § 533331 U.S.C. § 533431 U.S.C. § 5335
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