The Financial Crimes Enforcement Network has issued a new exemption form for currency transaction reports.

Starting Friday, banks, thrifts, and credit unions that want to exclude qualifying customers from their cash reporting requirements can fill out and mail Fincen's one-page "Designation of Exempt Person" form. Until now, financial institutions have reported eligible exemptions by checking a box on the regular currency transaction report form.

Currency reporting rules require depository institutions to report customer cash transactions in excess of $10,000. But banks can seek exemptions for transactions made by certain customers, including other banks, companies listed on major stock exchanges, and businesses that use cash primarily to pay employees.

Copies of the new form can be downloaded from Fincen's Web site at www.treas.gov/fincen, under "BSA Forms."

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