Sponsors (9)
The bill reduces routine reporting burdens for ordinary customers and stabilizes thresholds via inflation indexing and Treasury-led efficiency reviews, but it trades off reduced transaction transparency and harder detection of some illicit cash activity while imposing compliance costs on financial firms.
Bank customers and taxpayers will face fewer routine cash-reporting burdens because the reportable-cash threshold increases from $10,000 to $30,000.
Financial institutions and taxpayers will benefit from reporting requirements being indexed to inflation, reducing future erosion of thresholds and avoiding frequent ad hoc rulemaking.
Treasury review of forms, aggregation, prioritization, and automation could improve anti-money-laundering (AML) efficiency and reduce unnecessary burdens on banks by streamlining reporting.
Law enforcement and the public may face reduced transparency because raising the cash-reporting threshold to $30,000 increases the volume of cash transactions that go unreported.
Authorities may find some illicit cash activity harder to detect if fewer transactions trigger reporting, potentially increasing risks of money laundering and tax evasion.
Banks and other regulated entities will incur compliance costs to update systems, forms, and processes to implement the Secretary’s mandated reviews and any revised rules.
Based on analysis of 2 sections of legislative text.
Raises multiple cash-reporting thresholds (generally $10,000→$30,000, $2,000→$3,000, $5,000→$10,000) and mandates five-year CPI-U inflation adjustments and form reviews.
Introduced October 20, 2025 by John Neely Kennedy · Last progress October 20, 2025
Raises several federal cash-reporting thresholds and requires the Treasury to update related rules and forms and to make future inflation-based adjustments. It directs the Secretary of the Treasury and other federal agency rulemakers to change specified dollar thresholds within set timeframes, review and update reporting forms, complete statutorily required AML reviews, and report findings and recommendations to congressional committees.