# 2026-00449: Minnesota Banks Must Track and Report Large Cash Transactions Starting February

2026-00449, Geographic Targeting Order Imposing Recordkeeping and Reporting Requirements on Certain Financial Institutions in Minnesota, is a Federal Register rule from Treasury Department, Financial Crimes Enforcement Network published 2026-01-13, effective 2026-02-12 (as of 2026-06-11).

- Canonical: https://policyrisk.com/federal-register/2026-00449
- As of: 2026-06-11
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2026-00449
- Title: Geographic Targeting Order Imposing Recordkeeping and Reporting Requirements on Certain Financial Institutions in Minnesota
- Type: Rule
- Agencies: Treasury Department; Financial Crimes Enforcement Network
- Citation: 91 FR 1246
- Published: 2026-01-13
- Effective: 2026-02-12
- Comments close: not stated
- Significant: no
- Touches household money: no
- Regulation identifier numbers: none
- Last updated: 2026-06-11

## In one line

Minnesota Banks Must Track and Report Large Cash Transactions Starting February

## Summary

Starting February 12, 2026, banks and money transmitters in Hennepin and Ramsey Counties, Minnesota, must keep and report records of payments $3,000 or more. This new rule helps stop money crimes by making sure big transactions are tracked. If you’re a financial institution there, get ready to update your record-keeping and reporting—no extra fees, just more paperwork!

## Abstract

FinCEN is issuing this Geographic Targeting Order, requiring banks and money transmitters located in the Counties of Hennepin and Ramsey, Minnesota to retain and report records of certain payments of $3,000 or more.

## Effects PRIA read

- Banks and Money Transmitters Must Report $3,000+: cost, medium. If you run a bank or money transmitter with a branch, office, or subsidiary in Hennepin County or Ramsey County, Minnesota, you must report payments of $3,000 or more that meet the Order's criteria. The rule takes effect February 12, 2026 and ends August 10, 2026, and requires filings to FinCEN thr…
- Detailed Personal Data Must Be Collected: cost, medium. Covered banks and money transmitters must collect and report detailed information about originators/transmittors and beneficiaries or recipients, including names, addresses, dates of birth, phone numbers, email addresses, account numbers, and whether the source of funds includes government contract…
- Record Retention Requirement: Five Years: cost, low. Covered businesses must keep all reports filed under this Order and any related compliance records for five years from the last day this Order is effective, including any renewals. The records must be stored so they are accessible within a reasonable period and must be made available to FinCEN or o…
- Willful Violations Carry Civil or Criminal Penalties: cost, medium. Covered businesses, and any of their officers, directors, employees, and agents, may be liable for civil or criminal penalties for willfully violating any term of this Order. The Order directs that compliance be supervised and that the Order be transmitted to agents and senior managers in the Cover…

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- [2026-16576](https://policyrisk.com/federal-register/2026-16576): Beneficial Ownership Information Reporting Requirement Revision, 2026-08-14
- [2025-05199](https://policyrisk.com/federal-register/2025-05199): Beneficial Ownership Information Reporting Requirement Revision and Deadline Extension, 2025-03-26
- [2026-20371](https://policyrisk.com/federal-register/2026-20371): Proposal of Special Measure Prohibiting the Transmittal of Funds Regarding Transactions Involving the A7 Network's Sub-Agents, 2026-10-05
- [2026-18194](https://policyrisk.com/federal-register/2026-18194): Geographic Targeting Order Imposing Recordkeeping and Reporting Requirements on Certain Money Services Businesses Along the Southwest Border, 2026-09-04

## Sources
- [2026-00449 on federalregister.gov](https://www.federalregister.gov/documents/2026/01/13/2026-00449/geographic-targeting-order-imposing-recordkeeping-and-reporting-requirements-on-certain-financial)
- [2026-00449 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-01-13/pdf/2026-00449.pdf)

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- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2026-00449 (as of 2026-06-11).