Congress·Reported·H.R. 1799

Financial Reporting Threshold Modernization Act

Congress Proposes Raising Cash Reporting Limits for Banks from $10,000 to $30,000

Jan 22·View on Congress.gov·Read full text

This bill is one vehicle in a longer effort. See the full story across every version.View effort →

Next up: The House

This bill is waiting for a vote by the full House of Representatives after being approved by a committee in March 2026. No new actions have taken place on this bill since March 2026. While the bill reached a major milestone by leaving committee, it is currently stalled because House leadership has not scheduled it for a floor vote.

Legislative Progress

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How we got here

This bill’s path across every version that has carried it.

Reintroduced
Reintroduced from H.R. 8686 (118th), which died when its Congress ended.
H.R. 8686 (118th) →

Key Points

This bill, introduced by Representative Loudermilk, would change the rules for when banks and businesses must report large cash transactions to the government. Currently, banks must report any cash deal over $10,000, but this plan would raise that limit to $30,000.
The bill also raises the limits for reporting "suspicious" activity. For example, some reports that are currently required for $5,000 transactions would only be triggered once they hit $10,000. This is intended to reduce the amount of paperwork for financial institutions and small businesses.
To keep the rules current, these dollar limits would be updated every five years to account for inflation. This ensures that as prices for things like cars or equipment go up, the reporting rules stay realistic and don't trap everyday purchases in government databases.
The plan also triples the threshold for businesses that handle money transfers, moving the reporting requirement from $1,000 to $3,000. This affects businesses like check-cashing stores and money-wiring services.
If passed, the Treasury Department would have 180 days to update these regulations. The goal is to focus law enforcement on truly large or suspicious crimes rather than smaller, routine transactions that have become more common as the value of the dollar has changed over time.

Economy Finance

Impact Analysis

Personal Impact

Scores run from -100 (strongly harmful) to +100 (strongly beneficial) for each group, combining impact, certainty, scope, and duration ratings of 1-5. How impact scoring works

Life & Work

Small business owners who regularly handle large amounts of cash — like car dealers, jewelry stores, and contractors — would benefit from reduced paperwork. The current $10,000 reporting threshold was set in 1970 and hasn't kept up with inflation, meaning routine legitimate transactions often trigger government reports. Raising the threshold to $30,000 means fewer Currency Transaction Reports (CTRs) to deal with, saving time and compliance costs for businesses that aren't doing anything wrong.

ImpactCertaintyScopeDurationSentiment

Activities

Milestones

3 milestones6 actions

Mar 19, 2026House

Placed on the Union Calendar, Calendar No. 478.

The bill is now on the schedule for the full chamber to consider. It's in line for debate and a vote.

Mar 19, 2026House

Reported (Amended) by the Committee on Financial Services. H. Rept. 119-556.

Jan 22, 2026House

Ordered to be Reported (Amended) by the Yeas and Nays: 30 - 24.

The committee approved this bill and is sending it to the full chamber for a vote. This is a significant step — most bills never get this far.

Jan 22, 2026House

Committee Consideration and Mark-up Session Held

Mar 3, 2025House

Referred to the House Committee on Financial Services.

Related News

4 articles

Associated Press·Mar 28, 2025

IRS crime fighting arm announces modernization program as financial crimes use more tech

The AP reports on the IRS's new CI-FIRST program and notes that Rep. Barry Loudermilk has sponsored the Financial Reporting Threshold Modernization Act to raise CTR and SAR thresholds to $30,000 and $10,000, despite data showing many reports are currently filed below those levels.

Center

Crowdfund Insider·Jan 22

Here Is The List Of Bills Being Reviewed In House Financial Services Committee Markup Hearing

This article outlines the legislative agenda for the House Financial Services Committee, specifically identifying H.R. 1799, the Financial Reporting Threshold Modernization Act, and its goal to update automatic currency transaction report thresholds from $10,000 to $30,000.

Center

ABA Banking Journal·Jan 23

House committee advances three ABA-backed bills

The House Financial Services Committee advanced the Financial Reporting Threshold Modernization Act (H.R. 1799) in a 30-24 vote. The bill would raise CTR thresholds to $30,000 and SAR thresholds to $10,000, with five-year inflation indexing, a move supported by the banking industry.

Center

No votes or related bills recorded for this bill yet.