Us Code § 5333 - Safe harbor with respect to keep open directives
Full text of Us Code United States Code § 5333 — Safe harbor with respect to keep open directives, with citation guidance and answers to common questions.
§ 5333. Safe harbor with respect to keep open directives
(a)
(1) the financial institution shall not be liable under this subchapter for maintaining that account or transaction consistent with the parameters and timing of the request; and
(2) no Federal or State department or agency may take any adverse supervisory action under this subchapter with respect to the financial institution solely for maintaining that account or transaction consistent with the parameters of the request.
(b)
(1) to prevent a Federal or State department or agency from verifying the validity of a keep open request submitted under subsection (a) with the law enforcement agency submitting that request;
(2) to relieve a financial institution from complying with any reporting requirements or any other provisions of this subchapter, including the reporting of suspicious transactions under section 5318(g); or
(3) to extend the safe harbor described in subsection (a) to any actions taken by the financial institution—
(A) before the date of the keep open request to maintain a customer account; or
(B) after the termination date stated in the keep open request.
(c)
(d)
(1) submit to FinCEN a copy of the request; and
(2) alert FinCEN as to whether the financial institution has implemented the request.
(e)
(Added Pub. L. 116–283, div. F, title LXIII, §6306(a)(1), Jan. 1, 2021, 134 Stat. 4588.)
About This Section
31 U.S.C. § 5333 is part of Title 31 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
This section may be cited in legal writing as 31 U.S.C. § 5333. For the most current official text, including any recent amendments, use the official source links below. Do not rely on this page as the sole authority for legal citation or litigation.
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