# 2026-22809: FinCEN Drops Plan to Track Smaller Cross-Border Money Transfers 2026-22809, Threshold for the Requirement To Collect, Retain, and Transmit Information on Funds Transfers and Transmittals of Funds That Begin or End Outside the United States, and Clarification of the Requirement To Collect, Retain, and Transmit Information on Transactions Involving Convertible Virtual Currencies and Digital Assets With Legal Tender Status; Withdrawal, is a Federal Register proposed rule from Treasury Department, Financial Crimes Enforcement Network published 2026-11-09, effective 2026-11-09; deemed significant under Executive Order 12866; PRIA reads it as touching household money (as of 2026-11-11). - Canonical: https://policyrisk.com/federal-register/2026-22809 - As of: 2026-11-11 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Document number: 2026-22809 - Title: Threshold for the Requirement To Collect, Retain, and Transmit Information on Funds Transfers and Transmittals of Funds That Begin or End Outside the United States, and Clarification of the Requirement To Collect, Retain, and Transmit Information on Transactions Involving Convertible Virtual Currencies and Digital Assets With Legal Tender Status; Withdrawal - Type: Proposed Rule - Agencies: Treasury Department; Financial Crimes Enforcement Network - Citation: 91 FR 70824 - Published: 2026-11-09 - Effective: 2026-11-09 - Comments close: not stated - Significant: yes (FR_METADATA) - Touches household money: yes - Regulation identifier numbers: 1506-AB41 - Last updated: 2026-11-11 ## In one line FinCEN Drops Plan to Track Smaller Cross-Border Money Transfers ## Summary FinCEN and the Federal Reserve are officially dropping their 2020 plan to lower the money transfer reporting threshold from $3,000 to $250 for transfers involving the U.S. This means banks won’t have to collect extra info on smaller international transfers or certain digital currency transactions. The withdrawal takes effect November 9, 2026, so no new rules or costs will hit financial institutions anytime soon. ## Abstract FinCEN and the Board (collectively, the "Agencies") are withdrawing the joint notice of proposed rulemaking (NPRM) published on October 27, 2020, that proposed modifying the threshold in the Agencies' rules implementing the Bank Secrecy Act (BSA) requiring financial institutions to collect and retain information on certain funds transfers and transmittals of funds. The NPRM would have reduced this threshold from $3,000 to $250 for funds transfers and transmittals of funds that begin or end outside the United States. FinCEN additionally proposed reducing from $3,000 to $250 the threshold in FinCEN's rule requiring financial institutions to transmit to other financial institutions in the payment chain information on funds transfers and transmittals of funds that begin or end outside the United States. The NPRM also would have clarified the meaning of "money" as used in the Agencies' rules to specify that the rules apply to domestic and cross-border transactions involving convertible virtual currency (CVC) and digital assets that have legal tender status to a recipient. The Agencies will not take further action on this NPRM. ## Effects PRIA read - No new data rules for small remittances: benefit, low. You will not be subject to a new requirement to provide extra transfer details for international payments under $3,000 because the agencies withdrew the 2020 proposal to lower the reporting threshold from $3,000 to $250. The withdrawal is effective November 9, 2026, so the proposed $250 threshold w… - Banks avoid wider travel/recordkeeping rule costs: benefit, medium. If you run a bank or a nonbank financial institution, you will not have to implement the 2020 proposal that would have reduced the recordkeeping and transmission threshold from $3,000 to $250. The Agencies withdrew that proposal effective November 9, 2026, so institutions will not face the proposed… - No immediate expansion to cover certain digital assets: benefit, medium. The Agencies withdrew the part of the 2020 proposal that would have clarified that the Recordkeeping and Travel Rules apply to transactions involving convertible virtual currency (CVC) and digital assets that have legal tender status to a recipient. The withdrawal is effective November 9, 2026, and… ## Related documents - [2026-20430](https://policyrisk.com/federal-register/2026-20430): Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital Assets; Withdrawal, 2026-10-06 - [2026-20429](https://policyrisk.com/federal-register/2026-20429): Proposal of Special Measure Regarding Convertible Virtual Currency Mixing, as a Class of Transactions of Primary Money Laundering Concern;…, 2026-10-06 - [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 - [2026-22809 on federalregister.gov](https://www.federalregister.gov/documents/2026/11/09/2026-22809/threshold-for-the-requirement-to-collect-retain-and-transmit-information-on-funds-transfers-and) - [2026-22809 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-11-09/pdf/2026-22809.pdf) ## Related - [Previous: 2026-22807, Medicare Program; Implementation of Sections 6219, 6220, and 6224 of the Consol…](https://policyrisk.com/federal-register/2026-22807) - [Next: 2026-22815, Pacific Island Fisheries; Commercial Fishing in the Pacific Remote Islands Mari…](https://policyrisk.com/federal-register/2026-22815) - [All Federal Register documents](https://policyrisk.com/federal-register) Source: PRIA, https://policyrisk.com/federal-register/2026-22809 (as of 2026-11-11).