Money Laundering Scam

5. FinCEN Form 110 Designation of Exempt Person : Banks must file this form to designate an exempt customer 1 for the purpose of CTR reporting under the BSA. 49 In addition, banks use this form biennially (every two years) to 2 renew exemptions for eligible non-listed business and payroll customers. 50 3

It also requires any business receiving one or more related cash payments totaling $10,000 or more to file IRS/FinCEN Form 4 8300. 51 5

4.2

Affected transactions

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4.2.1

Currency Transaction Report (C.T.R.)

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The CTR must report cash transactions in excess of $10,000 during the same business day. The amount over $10,000 can be 8 either in one transaction or a combination of cash transactions. It is filed with the Internal Revenue Service. 9

Reports are limited ONLY to “ trade or business ” activities, which means “ the functions of a public office ” per 26 U.S.C. 10 §7701(a)(26). 11

26 U.S.C. §7701 (a)(26)

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"The term 'trade or business' includes the performance of the functions of a public office ."

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The “ trade or business ” they are talking about in Title 31 is exactly the same one that appears in the Internal Revenue Code, 14 folks! 15

Title 31: Money and Finance: Treasury

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PART 103 — FINANCIAL RECORDKEEPING AND REPORTING OF CURRENCY AND FOREIGN

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TRANSACTIONS

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Subpart B — Reports Required To Be Made

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§ 103.30 Reports relating to currency in excess of $10,000 received in a trade or business.

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(c) Meaning of terms. The following definitions apply for purposes of this section--

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(11) Trade or business . The term trade or business has the same meaning as under section 162 of title 26, United

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States Code.

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Below is how we inform third parties that we are NOT subject to “ currency transaction reporting ” whether they are financial 24 institutions or nonfinancial institutions, derived from Form #06.014, Section 1: 25

Privacy Agreement, Form #06.014

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Section 3: Constraints on Financial Transaction Reporting

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All financial transaction reporting under Title 31 of the U.S. Code has as a prerequisite that the target of the report is engaged in a “ trade or business ”, which is defined in 26 U.S.C. §7701(a)(26) and 31 C.F.R. §103.30 as “the functions of a public office” within the U.S. government. The recipient of this form is hereby notified that I, the Submitter of this form, am not engaged in the “trade or business” franchise and therefore cannot lawfully become the proper subject of any of t he following types of transaction reporting:

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1. 2.

IRS Form 8300: Currency Transaction Report Treasury Form 8300: Currency Transaction Report

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3. FINCEN Form 101: Suspicious Activity Report by the Securities and Futures Industries 4. FINCEN Form 102: Suspicious Activity Report by Casinos and Card Clubs

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5. FINCEN Form 103: Currency Transaction Report by Casinos

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6.

FINCEN Form 104: Currency Transaction Report

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7. FINCEN Form 105: Report of International Transportation of Currency or Monetary Instruments 8. FINCEN Form 109: Suspicious Activity Report by Money Services Business 9. Treasury Form TD F 90-22.47 - Suspicious Activity Report by Depository Institutions 10. Treasury Form TD F 90-22.1: Report of Foreign Bank and Financial Accounts

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49 31 C.F.R. §103.22(d)(3)(i).

50 31 C.F.R. §103.22(d)(5)(i).

51 "Publication 1544 (Rev. September 2012). Reporting Cash Payments of Over $10,000". IRS. 2012-09-21. Retrieved 2013-06-28.

The Money Laundering Enforcement Scam

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Copyright Sovereignty Education and Defense Ministry, http://sedm.org Form 05.044, Rev. 10-2-2013

EXHIBIT:________