CHAPTER 271. FINANCIAL TRANSACTION REPORTING REQUIREMENTS
FINANCE CODE
TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES
SUBTITLE Z. MISCELLANEOUS PROVISIONS RELATING TO FINANCIAL
INSTITUTIONS AND BUSINESSES
CHAPTER 271. FINANCIAL TRANSACTION REPORTING REQUIREMENTS
Sec. 271.001. REPORTING REQUIREMENT FOR CRIMES AND SUSPECTED
CRIMES AND CURRENCY AND FOREIGN TRANSACTIONS. (a) A financial
institution that is required to file a report with respect to a
transaction in this state under the Currency and Foreign
Transactions Reporting Act (31 U.S.C. Section 5311 et seq.), 31
C.F.R. Part 103, or 12 C.F.R. Section 21.11, and their subsequent
amendments, shall file a copy of the report with the attorney
general.
(b) A financial institution that timely files the report
described by Subsection (a) with the appropriate federal agency
as required by federal law complies with that subsection unless
the attorney general:
(1) notifies the financial institution that the report is not of
a type that is regularly and comprehensively transmitted by the
federal agency to the attorney general following the attorney
general's request to that agency;
(2) requests that the financial institution provide the attorney
general with a copy of the report; and
(3) reimburses the financial institution for the actual cost of
duplicating and delivering the report or 25 cents for each page,
whichever is less.
(c) In this section, "financial institution" has the meaning
assigned by 31 U.S.C. Section 5312 and its subsequent amendments.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.028, eff. Sept.
1, 1999.
Sec. 271.002. REPORTING REQUIREMENT FOR CASH RECEIPTS OF MORE
THAN $10,000. (a) A person engaged in a trade or business who,
in the course of the trade or business, receives more than
$10,000 in one transaction or in two or more related transactions
in this state and who is required to file a return under Section
6050I, Internal Revenue Code of 1986 (26 U.S.C. Section 6050I),
or 26 C.F.R. Section 1.6050I-1, and their subsequent amendments,
shall file a copy of the return with the attorney general.
(b) A person who timely files the return described by Subsection
(a) with the appropriate federal agency as required by federal
law complies with that subsection unless the attorney general:
(1) notifies the person that the return is not of a type that is
regularly and comprehensively transmitted by the federal agency
to the attorney general; and
(2) requests that the person provide the attorney general with a
copy of the return.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.029, eff. Sept.
1, 1999.
Sec. 271.003. USE OF REPORTED INFORMATION. The attorney general
may report a possible violation indicated by analysis of a report
or return described by this chapter or information obtained under
this chapter to an appropriate law enforcement agency for use in
the proper discharge of the agency's official duties.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Sec. 271.004. FAILURE TO COMPLY WITH REPORTING REQUIREMENTS;
CRIMINAL PENALTY. (a) A person commits an offense if the
person:
(1) is requested by the attorney general to submit information
required by Section 271.001 or 271.002 to the attorney general;
and
(2) knowingly fails to provide the requested information to the
attorney general before the 30th day after the date of the
request.
(b) An offense under this section is a Class A misdemeanor.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Sec. 271.005. SUPPRESSION OF PHYSICAL EVIDENCE; CRIMINAL
PENALTY. (a) A person commits an offense if the person
knowingly suppresses physical evidence connected with information
contained in a report or return required by this chapter through
concealment, alteration, or destruction.
(b) An offense under this section is a Class A misdemeanor.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Sec. 271.006. NOTIFICATION TO TARGET OF CRIMINAL INVESTIGATION;
CRIMINAL PENALTY. (a) A person commits an offense if the
person:
(1) is required to submit a report or return under this chapter;
and
(2) knowingly notifies an individual who is the target of a
criminal investigation involving an offense under Chapter 34,
Penal Code, that:
(A) the attorney general has requested the person to provide
information required by this chapter related to the targeted
individual; or
(B) the individual may be subject to impending criminal
prosecution.
(b) An offense under this section is a Class A misdemeanor.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.