Financial Reporting Threshold Modernization Act

HR 1799, the Financial Reporting Threshold Modernization Act, raises reporting thresholds for financial institutions handling large cash transactions. It increases the threshold for currency transaction reports from $10,000 to $30,000 and adjusts suspicious activity report thresholds from $5,000/$2,000 to $10,000/$3,000. The bill requires automatic updates to these thresholds every five years using the Consumer Price Index to account for inflation. This directly affects banks, money services businesses, and other entities that must file these reports under U.S. financial regulations.