Title 31 — Money and FinanceRelease 119-73not60

§5333 Safe Harbor with Respect to Keep Open Directives

Title 31 › Subtitle SUBTITLE IV— MONEY › Chapter 53— MONETARY TRANSACTIONS › Subchapter II— RECORDS AND REPORTS ON MONETARY INSTRUMENTS TRANSACTIONS › § 5333

Last updated Apr 5, 2026|Official source

Summary

When a federal law enforcement agency tells FinCEN it plans to send a written request asking a bank or other financial institution to keep a customer account or transaction open, or when a State, Tribal, or local agency sends that request with FinCEN’s agreement, the financial institution will not be held liable for keeping the account open if it follows the request’s limits and timing. No federal or state agency can take negative supervisory action against the institution just for following that request. The request must include a termination date. Agencies may check with the requesting law enforcement office to confirm the request. Financial institutions still must file required reports, including suspicious activity reports under section 5318(g). The law enforcement agency must send FinCEN a copy of the request and say within 2 business days whether the institution implemented it. The Secretary of the Treasury, with the Attorney General and law enforcement, must issue guidance on what a proper request must include.

Full Legal Text

Title 31, §5333

Money and Finance — Source: USLM XML via OLRC

(a)With respect to a customer account or customer transaction of a financial institution, if a Federal law enforcement agency, after notifying FinCEN of the intent to submit a written request to the financial institution that the financial institution keep that account or transaction open (referred to in this section as a “keep open request”), or if a State, Tribal, or local law enforcement agency with the concurrence of FinCEN submits a keep open request—

(1)the financial institution shall not be liable under this subchapter for maintaining that account or transaction consistent with the parameters and timing of the request; and

(2)no Federal or State department or agency may take any adverse supervisory action under this subchapter with respect to the financial institution solely for maintaining that account or transaction consistent with the parameters of the request.

(b)Nothing in this section may be construed—

(1)to prevent a Federal or State department or agency from verifying the validity of a keep open request submitted under subsection (a) with the law enforcement agency submitting that request;

(2)to relieve a financial institution from complying with any reporting requirements or any other provisions of this subchapter, including the reporting of suspicious transactions under section 5318(g); or

(3)to extend the safe harbor described in subsection (a) to any actions taken by the financial institution—

(A)before the date of the keep open request to maintain a customer account; or

(B)after the termination date stated in the keep open request.

(c)For the purposes of this section, any keep open request submitted under subsection (a) shall include a termination date after which that request shall no longer apply.

(d)Any Federal, State, Tribal, or local law enforcement agency that submits to a financial institution a keep open request shall, not later than 2 business days after the date on which the request is submitted to the financial institution—

(1)submit to FinCEN a copy of the request; and

(2)alert FinCEN as to whether the financial institution has implemented the request.

(e)The Secretary of the Treasury, in consultation with the Attorney General and Federal, State, Tribal, and local law enforcement agencies, shall issue guidance on the required elements of a keep open request.

Reference

Citations & Metadata

Citation

31 U.S.C. § 5333

Title 31 — Money and Finance

Last Updated

Apr 5, 2026

Release point: 119-73not60