H.R. 1799 · 119th Congress
Financial Reporting Threshold Modernization Act
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LoudermilkSponsor20 cosponsors · 1 D, 19 R
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Barr
TD
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Downing
TM
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Moore
JR
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Rose
GB
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Bilirakis
BC
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Carter
MC
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Collins
RF
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Fulcher
TM
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Massie
NBR
Begich
DS
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Soto
CF
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Fleischmann
ZZ
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(Zach) Nunn
SB
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Biggs
MR
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Rogers
ME
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Ezell
RH
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Hudson
DH
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Harshbarger
CM
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Maloy
PH
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Harrigan3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Reported to House · Mar 19, 2026
Financial Reporting Threshold Modernization Act
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Financial Reporting Threshold Modernization Act
Latest action (Mar 19, 2026): Placed on the Union Calendar, Calendar No. 478.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Mar 3, 2025
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.