Code of Federal Regulations Title 31 - Money and Finance: Treasury
Title 31 of the Code of Federal Regulations (CFR) is titled "Money and Finance: Treasury" and contains regulations issued by the U.S. Department of the Treasury, which oversees the nation’s finances, monetary policy enforcement, fiscal service, and economic sanctions.
🔹 Overview of Title 31 – Money and Finance: Treasury
Purpose:
To regulate federal financial management, including U.S. government accounting, public debt, federal payments, banking institutions, currency, anti-money laundering, and economic sanctions enforcement.
🏛️ Primary Agencies Under Title 31:
Department of the Treasury
Office of Foreign Assets Control (OFAC)
Financial Crimes Enforcement Network (FinCEN)
Bureau of the Fiscal Service
Internal Revenue Service (IRS) (portions of Title 31, separate from Title 26)
Comptroller of the Currency
U.S. Mint and Bureau of Engraving and Printing
📚 Key Parts and Their Topics (Selected):
| Part | Topic |
|---|---|
| Part 1 | Disclosure of records under the Freedom of Information Act |
| Part 103 (Now under 1010) | Bank Secrecy Act (BSA) requirements (anti-money laundering) |
| Part 202 | Treasury’s regulations on surety companies |
| Part 203 | Payment of Federal taxes and Treasury tax and loan accounts |
| Part 210 | Federal government ACH (Automated Clearing House) payments |
| Part 215 | Withholding of state income tax by federal agencies |
| Part 240 | Federal check endorsements and reclamation |
| Part 306 | Treasury securities (registration, transfer, redemption) |
| Part 356 | Sale and issue of marketable book-entry Treasury securities |
| Part 501–599 | Sanctions Programs enforced by OFAC, including: |
Cuba sanctions (Part 515)
Iran sanctions (Part 560)
North Korea sanctions (Part 510)
Terrorism-related sanctions (Part 594)
📌 Major Regulatory Areas:
Bank Secrecy Act (BSA): Anti-money laundering, suspicious activity reporting (SAR), and customer due diligence (CDD).
Sanctions Enforcement: Blocking of assets and restrictions on financial transactions with targeted countries, entities, or individuals.
Federal Payment Systems: Rules for disbursing government payments like Social Security or tax refunds.
Debt Collection: Regulations governing federal debt recovery.
U.S. Savings Bonds and Securities: Issuance and redemption of government bonds.
Foreign Assets Control: Restrictions on trade and finance involving embargoed nations.
⚖️ Legal and Practical Significance:
Title 31 establishes the legal framework for:
Managing the U.S. government’s finances.
Enforcing compliance with financial crime prevention laws.
Imposing economic sanctions.
Regulating the issuance of currency and securities.
Non-compliance with Title 31 regulations (especially OFAC and FinCEN rules) can result in heavy penalties, including civil fines, criminal prosecution, and asset seizures.
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