Rule 80-3-6-.04. State Requirements for Financial Institutions
Rule 80-3-6-.04. State Requirements for Financial Institutions
- (1) A financial institution required to report any currency transaction in excess of ten thousand dollars ($10,000), including a transaction in excess of one hundred thousand dollars ($100,000), may satisfy state currency transaction filing and reporting requirements by filing a timely report (FinCEN Form 104) with the federal authority designated in the Currency and Foreign Transaction Reporting Act of 1970 ("Bank Secrecy Act").
- (2) Banks and credit unions are required to follow federal guidelines and requirements for detecting abuses or the structuring of transactions designed to avoid Bank Secrecy Act reporting.
Authority: O.C.G.A. §§ 7-1-61, 7-1-690.
History. Original Rule entitled "State Requirements for Financial Institutions" adopted. F. Dec. 16, 2021; eff. Jan. 5, 2022.