source:
  type: regulation
  id: bsa-31cfr-1010.605
  authority: 31 CFR §1010.605 — Definitions (Special Due Diligence for Correspondent / Private Banking
    Accounts)
  description: 'Definitions section for FinCEN Special Due Diligence rules. §1010.605(e)

    defines "covered financial institution" — load-bearing classification

    that scopes §§1010.610, 1010.620, 1010.630, 1010.670, and §1010.230 CDD.

    '
obligations:
- id: bsa-31cfr-1010.605-full
  canonical_id: bsa-31cfr-1010.605-full
  section: 31 CFR §1010.605
  description: 'Link to an amendment published at 89 FR 72274 , Sept. 4, 2024. This amendment was delayed
    until Jan. 1, 2028, at 91 FR 36 , Jan. 2, 2026. Except as otherwise provided, the following definitions
    apply for purposes of §§ 1010.610 through 1010.630 and § 1010.670 :'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: 'Link to an amendment published at 89 FR 72274 , Sept. 4, 2024. This amendment was
      delayed until Jan. 1, 2028, at 91 FR 36 , Jan. 2, 2026. Except as otherwise provided, the following
      definitions apply for purposes of §§ 1010.610 through 1010.630 and § 1010.670 :'
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-a
  canonical_id: bsa-31cfr-1010.605-a
  section: 31 CFR §1010.605(a)
  description: '(a): (a) Beneficial owner of an account means an individual who has a level of control
    over, or entitlement to, the funds or assets in the account that, as a practical matter, enables the
    individual, directly or indirectly, to control, manage or direct the account. The ability to fund
    the account or the …'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: (a) Beneficial owner of an account means an individual who has a level of control
      over, or entitlement to, the funds or assets in the account that, as a practical matter, enables
      the individual, directly or indirectly, to control, manage or direct the account. The ability to
      fund the account or the entitlement to the funds of the account alone, however, without any corresponding
      authority to control, manage or direct the account (such as in the case of a minor child beneficiary),
      does not cause the individual to be a beneficial owner .
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-b
  canonical_id: bsa-31cfr-1010.605-b
  section: 31 CFR §1010.605(b)
  description: '(b): (b) Certification and recertification mean the certification and recertification
    forms regarding correspondent accounts for foreign banks located on FinCEN''s Internet Web site, http://www.fincen.gov.'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: (b) Certification and recertification mean the certification and recertification
      forms regarding correspondent accounts for foreign banks located on FinCEN's Internet Web site,
      http://www.fincen.gov.
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-c
  canonical_id: bsa-31cfr-1010.605-c
  section: 31 CFR §1010.605(c)
  description: '(c): (c) Correspondent account. (1) The term correspondent account means:'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: '(c) Correspondent account. (1) The term correspondent account means:'
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-i
  canonical_id: bsa-31cfr-1010.605-i
  section: 31 CFR §1010.605(i)
  description: '(i): (i) For purposes of § 1010.610(a) , (d) and (e), an account established for a foreign
    financial institution to receive deposits from, or to make payments or other disbursements on behalf
    of, the foreign financial institution , or to handle other financial transactions related to such
    foreign financi…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: '(i) For purposes of § 1010.610(a) , (d) and (e), an account established for a foreign
      financial institution to receive deposits from, or to make payments or other disbursements on behalf
      of, the foreign financial institution , or to handle other financial transactions related to such
      foreign financial institution ; and (ii) For purposes of §§ 1010.610(b) and (c) , 1010.630 and 1010.670,
      an account established for a foreign bank to receive deposits from, or to make payments or other
      disbursements on behalf of, the foreign bank, or to handle other financial transactions related
      to such foreign bank. (2) For purposes of this definition, the term account:'
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-i
  canonical_id: bsa-31cfr-1010.605-i
  section: 31 CFR §1010.605(i)
  description: '(i): (i) As applied to banks (as set forth in paragraphs (e)(1)(i) through (vii) of this
    section): (A) Means any formal banking or business relationship established by a bank to provide regular
    services, dealings, and other financial transactions; and (B) Includes a demand deposit, savings deposit,
    or ot…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: '(i) As applied to banks (as set forth in paragraphs (e)(1)(i) through (vii) of this
      section): (A) Means any formal banking or business relationship established by a bank to provide
      regular services, dealings, and other financial transactions; and (B) Includes a demand deposit,
      savings deposit, or other transaction or asset account and a credit account or other extension of
      credit; (ii) As applied to brokers or dealers in securities (as set forth in paragraph (e)(1)(viii)
      of this section) means any formal relationship established with a broker or dealer in securities
      to provide regular services to effect transactions in securities, including, but not limited to,
      the purchase or sale of securities and securities loaned and borrowed activity, and to hold securities
      or other assets for safekeeping or as collateral; (iii) As applied to futures commission merchants
      and introducing brokers (as set forth in paragraph (e)(1)(ix) of this section) means any formal
      relationship established by a futures commission merchant to provide regular services, including,
      but not limited to, those established to effect transactions in contracts of sale of a commodity
      for future delivery, options on any contract of sale of a commodity for future delivery, or options
      on a commodity; and (iv) As applied to mutual funds (as set forth in paragraph (e)(1)(x) of this
      section) means any contractual or other business relationship established between a person and a
      mutual fund to provide regular services to effect transactions in securities issued by the mutual
      fund, including the purchase or sale of securities.'
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-d
  canonical_id: bsa-31cfr-1010.605-d
  section: 31 CFR §1010.605(d)
  description: '(d): (d) Correspondent relationship has the same meaning as correspondent account for
    purposes of §§ 1010.630 and 1010.670.'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: (d) Correspondent relationship has the same meaning as correspondent account for
      purposes of §§ 1010.630 and 1010.670.
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-e
  canonical_id: bsa-31cfr-1010.605-e
  section: 31 CFR §1010.605(e)
  description: '(e): (e) Covered financial institution means: (1) For purposes of § 1010.610 and 1010.620:'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: '(e) Covered financial institution means: (1) For purposes of § 1010.610 and 1010.620:'
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-i
  canonical_id: bsa-31cfr-1010.605-i
  section: 31 CFR §1010.605(i)
  description: '(i): (i) A bank required to have an anti-money laundering compliance program under the
    regulations implementing 31 U.S.C. 5318(h) , 12 U.S.C. 1818(s) , or 12 U.S.C. 1786(q)(1) ; (ii) A
    broker or dealer in securities registered, or required to be registered, with the Securities and Exchange
    Commission und…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: '(i) A bank required to have an anti-money laundering compliance program under the
      regulations implementing 31 U.S.C. 5318(h) , 12 U.S.C. 1818(s) , or 12 U.S.C. 1786(q)(1) ; (ii)
      A broker or dealer in securities registered, or required to be registered, with the Securities and
      Exchange Commission under the Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq. ), except
      persons who register pursuant to section 15(b)(11) of the Securities Exchange Act of 1934 ; (iii)
      A futures commission merchant or an introducing broker registered, or required to be registered,
      with the Commodity Futures Trading Commission under the Commodity Exchange Act ( 7 U.S.C. 1 et seq.
      ), except persons who register pursuant to section 4(f)(a)(2) of the Commodity Exchange Act ; and
      (iv) A mutual fund; (2) For purposes of §§ 1010.630 and 1010.670:'
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-i
  canonical_id: bsa-31cfr-1010.605-i
  section: 31 CFR §1010.605(i)
  description: '(i): (i) An insured bank (as defined in section 3(h) of the Federal Deposit Insurance
    Act ( 12 U.S.C. 1813(h) )); (ii) A commercial bank or trust company; (iii) A private banker; (iv)
    An agency or branch of a foreign bank in the United States;'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: (i) An insured bank (as defined in section 3(h) of the Federal Deposit Insurance
      Act ( 12 U.S.C. 1813(h) )); (ii) A commercial bank or trust company; (iii) A private banker; (iv)
      An agency or branch of a foreign bank in the United States;
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-v
  canonical_id: bsa-31cfr-1010.605-v
  section: 31 CFR §1010.605(v)
  description: '(v): (v) A credit union; (vi) A savings association; (vii) A corporation acting under
    section 25A of the Federal Reserve Act ( 12 U.S.C. 611 et seq. ); and (viii) A broker or dealer in
    securities registered, or required to be registered, with the Securities and Exchange Commission under
    the Securities Ex…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: (v) A credit union; (vi) A savings association; (vii) A corporation acting under
      section 25A of the Federal Reserve Act ( 12 U.S.C. 611 et seq. ); and (viii) A broker or dealer
      in securities registered, or required to be registered, with the Securities and Exchange Commission
      under the Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq. ), except persons who register
      pursuant to section 15(b)(11) of the Securities Exchange Act of 1934 .
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-f
  canonical_id: bsa-31cfr-1010.605-f
  section: 31 CFR §1010.605(f)
  description: '(f): (f) Foreign financial institution. (1) The term foreign financial institution means:'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: '(f) Foreign financial institution. (1) The term foreign financial institution means:'
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-i
  canonical_id: bsa-31cfr-1010.605-i
  section: 31 CFR §1010.605(i)
  description: '(i): (i) A foreign bank; (ii) Any branch or office located outside the United States of
    any covered financial institution described in paragraphs (e)(1)(viii) through (x) of this section;
    (iii) Any other person organized under foreign law (other than a branch or office of such person in
    the United States…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: '(i) A foreign bank; (ii) Any branch or office located outside the United States
      of any covered financial institution described in paragraphs (e)(1)(viii) through (x) of this section;
      (iii) Any other person organized under foreign law (other than a branch or office of such person
      in the United States) that, if it were located in the United States, would be a covered financial
      institution described in paragraphs (e)(1)(viii) through (x) of this section; and (iv) Any person
      organized under foreign law (other than a branch or office of such person in the United States)
      that is engaged in the business of, and is readily identifiable as: (A) A dealer in foreign exchange;
      or (B) A money transmitter. (2) For purposes of paragraph (f)(1)(iv) of this section, a person is
      not “engaged in the business” of a dealer in foreign exchange or a money transmitter if such transactions
      are merely incidental to the person''s business.'
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-g
  canonical_id: bsa-31cfr-1010.605-g
  section: 31 CFR §1010.605(g)
  description: '(g): (g) Foreign shell bank means a foreign bank without a physical presence in any country.'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: (g) Foreign shell bank means a foreign bank without a physical presence in any country.
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-h
  canonical_id: bsa-31cfr-1010.605-h
  section: 31 CFR §1010.605(h)
  description: '(h): (h) Non-United States person or non-U.S. person means a natural person who is neither
    a United States citizen nor is accorded the privilege of residing permanently in the United States
    pursuant to title 8 of the United States Code. For purposes of this paragraph (h), the definition
    of person in § 10…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: (h) Non-United States person or non-U.S. person means a natural person who is neither
      a United States citizen nor is accorded the privilege of residing permanently in the United States
      pursuant to title 8 of the United States Code. For purposes of this paragraph (h), the definition
      of person in § 1010.100(mm) does not apply, notwithstanding paragraph (k) of this section.
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-i
  canonical_id: bsa-31cfr-1010.605-i
  section: 31 CFR §1010.605(i)
  description: '(i): (i) Offshore banking license means a license to conduct banking activities that prohibits
    the licensed entity from conducting banking activities with the citizens of, or in the local currency
    of, the jurisdiction that issued the license.'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: (i) Offshore banking license means a license to conduct banking activities that prohibits
      the licensed entity from conducting banking activities with the citizens of, or in the local currency
      of, the jurisdiction that issued the license.
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-j
  canonical_id: bsa-31cfr-1010.605-j
  section: 31 CFR §1010.605(j)
  description: '(j): (j) Owner. (1) The term owner means any person who, directly or indirectly:'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: '(j) Owner. (1) The term owner means any person who, directly or indirectly:'
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-i
  canonical_id: bsa-31cfr-1010.605-i
  section: 31 CFR §1010.605(i)
  description: '(i): (i) Owns, controls, or has the power to vote 25 percent or more of any class of voting
    securities or other voting interests of a foreign bank; or (ii) Controls in any manner the election
    of a majority of the directors (or individuals exercising similar functions) of a foreign bank. (2)
    For purposes …'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: '(i) Owns, controls, or has the power to vote 25 percent or more of any class of
      voting securities or other voting interests of a foreign bank; or (ii) Controls in any manner the
      election of a majority of the directors (or individuals exercising similar functions) of a foreign
      bank. (2) For purposes of this definition:'
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-i
  canonical_id: bsa-31cfr-1010.605-i
  section: 31 CFR §1010.605(i)
  description: '(i): (i) Members of the same family shall be considered to be one person. (ii) The term
    same family means parents, spouses, children, siblings, uncles, aunts, grandparents, grandchildren,
    first cousins, stepchildren, stepsiblings, parents-in-law, and spouses of any of the foregoing. (iii)
    Each member of …'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: (i) Members of the same family shall be considered to be one person. (ii) The term
      same family means parents, spouses, children, siblings, uncles, aunts, grandparents, grandchildren,
      first cousins, stepchildren, stepsiblings, parents-in-law, and spouses of any of the foregoing.
      (iii) Each member of the same family who has an ownership interest in a foreign bank must be identified
      if the family is an owner as a result of aggregating the ownership interests of the members of the
      family. In determining the ownership interests of the same family , any voting interest of any family
      member shall be taken into account. (iv) Voting securities or other voting interests means securities
      or other interests that entitle the holder to vote for or to select directors (or individuals exercising
      similar functions).
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-k
  canonical_id: bsa-31cfr-1010.605-k
  section: 31 CFR §1010.605(k)
  description: '(k): (k) Person has the meaning provided in § 1010.100(mm) .'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: (k) Person has the meaning provided in § 1010.100(mm) .
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-l
  canonical_id: bsa-31cfr-1010.605-l
  section: 31 CFR §1010.605(l)
  description: '(l): (l) Physical presence means a place of business that: (1) Is maintained by a foreign
    bank; (2) Is located at a fixed address (other than solely an electronic address or a post-office
    box) in a country in which the foreign bank is authorized to conduct banking activities, at which
    location the foreig…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: '(l) Physical presence means a place of business that: (1) Is maintained by a foreign
      bank; (2) Is located at a fixed address (other than solely an electronic address or a post-office
      box) in a country in which the foreign bank is authorized to conduct banking activities, at which
      location the foreign bank:'
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-i
  canonical_id: bsa-31cfr-1010.605-i
  section: 31 CFR §1010.605(i)
  description: '(i): (i) Employs one or more individuals on a full-time basis; and (ii) Maintains operating
    records related to its banking activities; and (3) Is subject to inspection by the banking authority
    that licensed the foreign bank to conduct banking activities.'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: (i) Employs one or more individuals on a full-time basis; and (ii) Maintains operating
      records related to its banking activities; and (3) Is subject to inspection by the banking authority
      that licensed the foreign bank to conduct banking activities.
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-m
  canonical_id: bsa-31cfr-1010.605-m
  section: 31 CFR §1010.605(m)
  description: '(m): (m) Private banking account means an account (or any combination of accounts) maintained
    at a covered financial institution that: (1) Requires a minimum aggregate deposit of funds or other
    assets of not less than $1,000,000; (2) Is established on behalf of or for the benefit of one or more
    non-U.S. …'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: '(m) Private banking account means an account (or any combination of accounts) maintained
      at a covered financial institution that: (1) Requires a minimum aggregate deposit of funds or other
      assets of not less than $1,000,000; (2) Is established on behalf of or for the benefit of one or
      more non-U.S. persons who are direct or beneficial owners of the account; and (3) Is assigned to,
      or is administered or managed by, in whole or in part, an officer, employee, or agent of a covered
      financial institution acting as a liaison between the covered financial institution and the direct
      or beneficial owner of the account.'
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-n
  canonical_id: bsa-31cfr-1010.605-n
  section: 31 CFR §1010.605(n)
  description: '(n): (n) Regulated affiliate. (1) The term regulated affiliate means a foreign shell bank
    that:'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: '(n) Regulated affiliate. (1) The term regulated affiliate means a foreign shell
      bank that:'
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-i
  canonical_id: bsa-31cfr-1010.605-i
  section: 31 CFR §1010.605(i)
  description: '(i): (i) Is an affiliate of a depository institution, credit union, or foreign bank that
    maintains a physical presence in the United States or a foreign country, as applicable; and (ii) Is
    subject to supervision by a banking authority in the country regulating such affiliated depository
    institution, cred…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: '(i) Is an affiliate of a depository institution, credit union, or foreign bank that
      maintains a physical presence in the United States or a foreign country, as applicable; and (ii)
      Is subject to supervision by a banking authority in the country regulating such affiliated depository
      institution, credit union, or foreign bank. (2) For purposes of this definition:'
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-i
  canonical_id: bsa-31cfr-1010.605-i
  section: 31 CFR §1010.605(i)
  description: '(i): (i) Affiliate means a foreign bank that is controlled by, or is under common control
    with, a depository institution, credit union, or foreign bank. (ii) Control means: (A) Ownership,
    control, or power to vote 50 percent or more of any class of voting securities or other voting interests
    of another c…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: '(i) Affiliate means a foreign bank that is controlled by, or is under common control
      with, a depository institution, credit union, or foreign bank. (ii) Control means: (A) Ownership,
      control, or power to vote 50 percent or more of any class of voting securities or other voting interests
      of another company; or (B) Control in any manner the election of a majority of the directors (or
      individuals exercising similar functions) of another company.'
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-o
  canonical_id: bsa-31cfr-1010.605-o
  section: 31 CFR §1010.605(o)
  description: '(o): (o) Secretary means the Secretary of the Treasury.'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: (o) Secretary means the Secretary of the Treasury.
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-p
  canonical_id: bsa-31cfr-1010.605-p
  section: 31 CFR §1010.605(p)
  description: '(p): (p) Senior foreign political figure. (1) The term senior foreign political figure
    means:'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: '(p) Senior foreign political figure. (1) The term senior foreign political figure
      means:'
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-i
  canonical_id: bsa-31cfr-1010.605-i
  section: 31 CFR §1010.605(i)
  description: '(i): (i) A current or former: (A) Senior official in the executive, legislative, administrative,
    military, or judicial branches of a foreign government (whether elected or not); (B) Senior official
    of a major foreign political party; or (C) Senior executive of a foreign government-owned commercial
    enterp…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: '(i) A current or former: (A) Senior official in the executive, legislative, administrative,
      military, or judicial branches of a foreign government (whether elected or not); (B) Senior official
      of a major foreign political party; or (C) Senior executive of a foreign government-owned commercial
      enterprise; (ii) A corporation, business, or other entity that has been formed by, or for the benefit
      of, any such individual; (iii) An immediate family member of any such individual; and (iv) A person
      who is widely and publicly known (or is actually known by the relevant covered financial institution)
      to be a close associate of such individual. (2) For purposes of this definition:'
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1010.605-i
  canonical_id: bsa-31cfr-1010.605-i
  section: 31 CFR §1010.605(i)
  description: '(i): (i) Senior official or executive means an individual with substantial authority over
    policy, operations, or the use of government-owned resources; and (ii) Immediate family member means
    spouses, parents, siblings, children and a spouse''s parents and siblings. [ 75 FR 65812 , Oct. 26,
    2010, as amende…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1010.605(e)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1010.605
    snapshot_id: 8bbb28041070c3f6
    fetched_at: '2026-05-22T11:34:23Z'
    content_hash: sha256:57ec74c50462fcc2bef86f0239374997c5a1bf7a10d3c5bea9a746e74d1cacfc
    paragraph_quote: (i) Senior official or executive means an individual with substantial authority over
      policy, operations, or the use of government-owned resources; and (ii) Immediate family member means
      spouses, parents, siblings, children and a spouse's parents and siblings. [ 75 FR 65812 , Oct. 26,
      2010, as amended at 76 FR 43596 , July 21, 2011; 85 FR 57137 , Sept. 15, 2020] Securities Exchange
      Act of 1934 Commodity Exchange Act Federal Deposit Insurance Act Federal Reserve Act CFR Toolbox
      Law about... Articles from Wex Table of Popular Names Parallel Table of Authorities Accessibility
      About LII Contact us Advertise here Help Terms of use Privacy
    drafter_attestation: Verbatim subsection of 31 CFR §1010.605 from Cornell LII snapshot 8bbb28041070c3f6;
      body isolated between nav and notes; substring-verified.
  judgment: false
