# 119-hr-1799: Financial Reporting Threshold Modernization Act

119-hr-1799, Financial Reporting Threshold Modernization Act, is a 119th Congress bill sponsored by Rep. Loudermilk, Barry [R-GA-11] (R-GA); status in_committee; PRIA reads it as touching household money (as of 2026-06-13).

- Canonical: https://policyrisk.com/legislation/119-hr-1799
- As of: 2026-06-13
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-1799
- Congress: 119
- Title: Financial Reporting Threshold Modernization Act
- Status: in_committee
- Introduced: 2025-03-03
- Sponsor: Rep. Loudermilk, Barry [R-GA-11] (R-GA)
- Cosponsors: 20
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-06-13

## Summary

**Modernize Bank Secrecy Act reporting thresholds to reflect inflation and strengthen illicit-finance detection.** This bill would raise multiple cash and reporting thresholds and force periodic updates and reviews so reporting stays current with prices and policy goals. - Banks and other financial firms would see the per-transaction Currency Transaction Report threshold rise from $10,000 to $30,000 within 180 days, with automatic five-year updates tied to the Consumer Price Index for All Urban Consumers (CPI-U) rounded to the nearest $500. - Cash-heavy nonfinancial businesses would have their coins-and-currency reporting threshold raised from $10,000 to $30,000, with the same five-year CPI-U adjustment. - Money Services Businesses and suspicious-activity reporting would change the MSB threshold from $1,000 to $3,000 and raise SAR triggers from $5,000 to $10,000 and $2,000 to $3,000, all subject to five-year inflation updates. - The Treasury must complete a review of forms and reporting rules within 360 days and report findings and recommendations to the Senate Banking Committee and House Financial Services Committee, and the FinCEN-related reporting/testimony period is extended from 5 years to 10 years.

## Cosponsors (20)

- Rep. Barr, Andy [R-KY-6] (R-KY), 2025-03-03T00:00:00.000Z
- Rep. Downing, Troy [R-MT-2] (R-MT), 2025-03-03T00:00:00.000Z
- Rep. Moore, Tim [R-NC-14] (R-NC), 2025-03-03T00:00:00.000Z
- Rep. Rose, John W. [R-TN-6] (R-TN), 2025-03-06T00:00:00.000Z
- Rep. Bilirakis, Gus M. [R-FL-12] (R-FL), 2025-03-11T00:00:00.000Z
- Rep. Collins, Mike [R-GA-10] (R-GA), 2025-03-18T00:00:00.000Z
- Rep. Carter, Earl L. "Buddy" [R-GA-1] (R-GA), 2025-03-18T00:00:00.000Z
- Rep. Fulcher, Russ [R-ID-1] (R-ID), 2025-03-18T00:00:00.000Z
- Rep. Massie, Thomas [R-KY-4] (R-KY), 2025-03-18T00:00:00.000Z
- Rep. Begich, Nicholas J. [R-AK-At Large] (R-AK), 2025-06-03T00:00:00.000Z
- Rep. Soto, Darren [D-FL-9] (D-FL), 2025-09-11T00:00:00.000Z
- Rep. Fleischmann, Charles J. "Chuck" [R-TN-3] (R-TN), 2025-09-16T00:00:00.000Z
- Rep. Nunn, Zachary [R-IA-3] (R-IA), 2025-10-21T00:00:00.000Z
- Rep. Biggs, Sheri [R-SC-3] (R-SC), 2025-11-12T00:00:00.000Z
- Rep. Rogers, Mike D. [R-AL-3] (R-AL), 2026-01-07T00:00:00.000Z
- Rep. Ezell, Mike [R-MS-4] (R-MS), 2026-02-03T00:00:00.000Z
- Rep. Hudson, Richard [R-NC-9] (R-NC), 2026-03-03T00:00:00.000Z
- Rep. Harshbarger, Diana [R-TN-1] (R-TN), 2026-03-09T00:00:00.000Z
- Rep. Maloy, Celeste [R-UT-2] (R-UT), 2026-03-09T00:00:00.000Z
- Rep. Harrigan, Pat [R-NC-10] (R-NC), 2026-03-18T00:00:00.000Z

## Provisions PRIA read

- Higher cash reporting cutoffs: benefit, medium. If enacted, this bill would raise the cash transaction reporting rule banks follow from $10,000 to $30,000 within 180 days. It would also change cash-receipt reporting for nonfinancial businesses from $10,000 to $30,000 on enactment. Both sets of dollar amounts would be updated every five years usi…
- Higher SAR and MSB cutoffs: benefit, medium. If enacted, this bill would raise two Suspicious Activity Report dollar cutoffs within 180 days: all $5,000 thresholds would become $10,000 and all $2,000 thresholds would become $3,000. It would also raise a Money Services Business reporting cutoff from $1,000 to $3,000 within 180 days. All of the…
- FinCEN reporting period extended: benefit, low. If enacted, this bill would change a FinCEN-related statutory period from five years to ten years upon enactment. The amendment would extend the timing referenced in the specified FinCEN provision.
- Treasury review of AML forms: mixed, medium. If enacted, this bill would require the Treasury Secretary to review anti-money-laundering forms and reporting and recordkeeping rules within 360 days. The review must consult industry and law enforcement, analyze aggregation, prioritization, and automation, conduct required AMLA reviews, and inclu…

## Related bills

- 119-hr-8800: National Defense Authorization Act for Fiscal Year 2027
- 119-hr-703: Main Street Tax Certainty Act
- 119-hr-1232: National Right-to-Work Act
- 119-hres-719: Honoring the life and legacy of Charles Charlie James Kirk.
- 119-hr-404: Hearing Protection Act
- 119-hr-979: AM Radio for Every Vehicle Act of 2025

## Sources
- [119-hr-1799 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/1799)

## Related
- [119-hr-8800: National Defense Authorization Act for Fiscal Year 2027](https://policyrisk.com/legislation/119-hr-8800)
- [119-hr-703: Main Street Tax Certainty Act](https://policyrisk.com/legislation/119-hr-703)
- [119-hr-1232: National Right-to-Work Act](https://policyrisk.com/legislation/119-hr-1232)
- [119-hres-719: Honoring the life and legacy of Charles Charlie James Kirk.](https://policyrisk.com/legislation/119-hres-719)
- [119-hr-404: Hearing Protection Act](https://policyrisk.com/legislation/119-hr-404)
- [119-hr-979: AM Radio for Every Vehicle Act of 2025](https://policyrisk.com/legislation/119-hr-979)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-1799 (as of 2026-06-13).