HR 1799 119th Congress
Financial Reporting Threshold Modernization Act
To update thresholds for certain currency transaction reports and suspicious activity reports, and for other purposes.
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Bill journey
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Introduction Congress.gov
Introduced
Introduced in the House.
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Referred to the House Committee on Financial Services.
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Introduced in House
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Introduced in House
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Introduced in House
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Ordered to be Reported (Amended) by the Yeas and Nays: 30 - 24.
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Committee Consideration and Mark-up Session Held
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Placed on the Union Calendar, Calendar No. 478.
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Reported (Amended) by the Committee on Financial Services. H. Rept. 119-556.
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Reported (Amended) by the Committee on Financial Services. H. Rept. 119-556.
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Reported in House
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| Date and time | Record | Official detail | Source |
|---|---|---|---|
| IntroductionIntroduced | Introduced in the House. | Congress.gov | |
| Official actionReferred to the House Committee on Financial Services. | No additional detail supplied.IntroReferral · House floor actions · Code H11100 | Congress.gov | |
| Official actionIntroduced in House | No additional detail supplied.IntroReferral · Library of Congress · Code Intro-H | Congress.gov | |
| Official actionIntroduced in House | No additional detail supplied.IntroReferral · Library of Congress · Code 1000 | Congress.gov | |
| Text versionIntroduced in House | A dated text-version record is available. | Congress.gov | |
| Official actionOrdered to be Reported (Amended) by the Yeas and Nays: 30 - 24. | No additional detail supplied.Committee · House committee actions · Code H19000 | Congress.gov | |
| Official actionCommittee Consideration and Mark-up Session Held | No additional detail supplied.Committee · House committee actions · Code H15001 | Congress.gov | |
| Official actionPlaced on the Union Calendar, Calendar No. 478. | No additional detail supplied.Calendars · House floor actions · Code H12410 | Congress.gov | |
| Official actionReported (Amended) by the Committee on Financial Services. H. Rept. 119-556. | No additional detail supplied.Committee · House floor actions · Code H12200 | Congress.gov | |
| Official actionReported (Amended) by the Committee on Financial Services. H. Rept. 119-556. | No additional detail supplied.Committee · Library of Congress · Code 5000 | Congress.gov | |
| Text versionReported in House | A dated text-version record is available. | Congress.gov |
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Congressional Research Service
CRS summary
Financial Reporting Threshold Modernization ActThis bill increases the threshold amounts for certain reporting by financial institutions, adjusts these amounts periodically for inflation, and requires a review of specified financial forms and reporting requirements.The bill increases the threshold dollar amounts above which financial institutions are required to file currency-transaction and suspicious-activity reports with the Financial Crimes Enforcement Network (FinCEN). The bill also increases the transaction threshold above which an entity must register with FinCEN as a money services business. Further, these amounts must be updated every five years to reflect the change in the consumer price index.Treasury must review and report on the effectiveness and efficiency of the forms and requirements regarding domestic coin and currency transactions, foreign currency transactions, and anti-money laundering and combating the financing of terrorism measures, among other matters. Treasury must also make appropriate updates to such forms.The bill also extends through 2031 the requirement that the director of FinCEN must be made annually available for testimony before congressional committees regarding certain FinCEN issues, including resources needed to implement beneficial ownership reporting requirements.
Official documents
Text versions
- Reported in HouseMar 19, 2026
- Introduced in HouseMar 3, 2025