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Financial Reporting Threshold Modernization Act

H.R. 1799 Rep. Barry Loudermilk (R-GA-11) In committee
Bill text PDF
  1. Introduced Mar 3
  2. Committee Mar 3
  3. Passed House Next
  4. Passed Senate Not yet
  5. To President Not yet
  6. Law Not yet
Where it stands
In committee, Mar 3, 2025Next: House vote
222d ago Mar 19, 2026: Placed on the Union Calendar, Calendar No. 478.
Final votes
No roll callsNo recorded vote on this bill yet
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3companies, 8 filings
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Summary

Financial Reporting Threshold Modernization Act

Full summary4 paragraphs

This 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.

Library of Congress summary, Mar 19, 2026

Summary versions
  • Reported to HouseMar 19, 2026

Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 27, 2026.