Financial Reporting Threshold Modernization Act

This bill would increase the dollar thresholds that trigger requirements for financial institutions to file currency-transaction and suspicious-activity reports with the Financial Crimes Enforcement Network (FinCEN). It proposes to adjust these thresholds every five years for inflation and raises the transaction limit for entities required to register as money services businesses. Additionally, the Department of the Treasury would be required to review the effectiveness of various anti-money laundering reporting forms and provide annual congressional testimony on FinCEN resources through 2031.

This bill affects financial institutions and money services businesses that are required to file currency-transaction and suspicious-activity reports with the Financial Crimes Enforcement Network (FinCEN). It also impacts the Department of the Treasury and the Director of FinCEN, who must fulfill new reporting, review, and congressional testimony requirements. Additionally, entities involved in domestic and foreign currency transactions are affected by updated reporting thresholds and form revisions.

• Increased reporting thresholds for financial institutions. The bill raises the dollar amount thresholds that trigger requirements for financial institutions to file currency-transaction and suspicious-activity reports with the Financial Crimes Enforcement Network (FinCEN).
• Adjusted registration threshold for money services businesses. The legislation increases the transaction threshold that determines when an entity must register with FinCEN as a money services business.
• Inflation-based threshold updates. The bill requires that the reporting and registration dollar amounts be updated every five years to reflect changes in the consumer price index.
• Review of financial reporting forms and requirements. The Department of the Treasury must review and report on the efficiency of requirements related to domestic and foreign currency transactions, as well as anti-money laundering measures, and make appropriate updates to relevant forms.
• Extension of FinCEN congressional testimony requirements. The requirement for the Director of FinCEN to testify annually before Congress is extended through 2031, covering topics such as resources for beneficial ownership reporting.

• H.R. 1799, Financial Reporting Threshold Modernization Act
  Feb 26, 2026 · As ordered reported by the House Committee on Financial Services on January 22, 2026

The bill requires reporting threshold amounts to be updated every five years to reflect changes in the consumer price index. Additionally, the requirement for the director of FinCEN to provide annual congressional testimony is extended through 2031.

The bill modifies existing financial reporting requirements by increasing the dollar thresholds for currency-transaction and suspicious-activity reports filed with the Financial Crimes Enforcement Network (FinCEN). It also extends through 2031 a current requirement for the Director of FinCEN to provide annual congressional testimony regarding agency resources and beneficial ownership reporting.

The bill aims to modernize financial reporting by increasing the dollar thresholds for currency-transaction and suspicious-activity reports, adjusting those amounts periodically for inflation, and requiring a review of the effectiveness of anti-money laundering and counter-terrorism financing reporting requirements.