As part of the registration rule, each money services business (MSB) that is required to register must prepare and maintain a list of its agents. The agent list is not filed with the registration form but must be maintained at a location in the United States reported on the form. The list must include each agent and contain specific information about each agent.

Upon request, the MSB must make its list of agents available to: (1) the Financial Crimes Enforcement Network (FinCEN), or its designee, and (2) the Internal Revenue Service (IRS), in the performance of its examination function.

The initial agent list must be prepared by January 1, 2002. The list must be revised each January 1 for the immediately preceding twelve (12) month period.  A copy of the initial agent list and of each revised list must be retained for a period of five (5) years.

Penalties. Civil and criminal penalties may be imposed for willful violation of the agent list requirement.

This guidance is intended to clarify general issues arising under 31 CFR Part 103. The guidance does not replace or supersede the regulations.

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