Skip to content
GeoDataVision
Thread Options
#2273501 - 07/28/22 08:26 AM CTR NAICS codes list expanded?
isawbobsegerslastconcert Offline
New Poster
Joined: Jan 2022
Posts: 8
Hi all,

Has there been a change in the NAICS codes listing for BSA E-Filing of CTRs from 3-4 digit codes to 3-6 digit codes? Our core processor recently updated the CTR NAICS code options to include 3-6 digit codes as per their compliance area. However, the authorized NAICS list on the BSA E-Filing website shows codes that are only 3-4 digits long (with one exception - code 52231 for mortgage and nonmortgage loan brokers). Additionally, the FinCEN CTR faqs reflect that only the 3-4 digit codes on the approved list are to be used.

Thanks in advance for any response.

Return to Top
BSA/AML/CIP/OFAC Forum
#2273509 - 07/28/22 12:46 PM Re: CTR NAICS codes list expanded? isawbobsegerslastconcert
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,633
Galveston, TX
Here are the current instructions:

Item 9a NAICS Code: Enter the North American Industry Classification System (NAICS) code for the occupation or type of business entered in Item 9. Batch filers should only enter codes from the list of NAICS Codes authorized for use in the FinCEN CTR and located on the BSA E- Filing Web Site (http://bsaefiling.fincen.treas.gov/main.html) or from the Financial Crimes Enforcement Network U.S. Census Bureau NAICS list. If the Census Bureau list is used filers cannot substitute a sector code (such as 11 Agriculture, Forestry, Fishing and Hunting) for an actual three to six number NAICS Code (such as 11114 Wheat Farming)
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#2273516 - 07/28/22 02:05 PM Re: CTR NAICS codes list expanded? isawbobsegerslastconcert
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 39,684
Cape Cod
The Census Bureau updated the NAICS list but FinCEN is still accepting only the codes from the 2017 version. When FinCEN is ready to make a change, it will notify filers with an effective date, I suspect. Until then, filers should not jump the gun.
_________________________
John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

Return to Top
#2273520 - 07/28/22 02:35 PM Re: CTR NAICS codes list expanded? John Burnett
isawbobsegerslastconcert Offline
New Poster
Joined: Jan 2022
Posts: 8
Please excuse me for not knowing this but where can I find the FinCEN U.S. Census Bureau NAICS list? Also, does this mean that the NAICS codes entered on a CTR can be longer than 3-4 digits despite the answer to FinCEN CTR faq # 19?

Please note that batch filers must use only the 3-4 digit NAICS codes on our approved list of codes. Discrete filers can select from the available drop-down list embedded within the CTR.

Return to Top
#2273521 - 07/28/22 02:39 PM Re: CTR NAICS codes list expanded? isawbobsegerslastconcert
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,633
Galveston, TX
https://www.census.gov/naics/

But this is pretty clear to me: batch filers must use only the 3-4 digit NAICS codes on our approved list of codes.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#2273524 - 07/28/22 02:56 PM Re: CTR NAICS codes list expanded? rlcarey
isawbobsegerslastconcert Offline
New Poster
Joined: Jan 2022
Posts: 8
I agree. I guess what threw me off was that the instructions say that if the Census Bureau list is used, then the 2 digit sector code cannot be substituted for the 3-6 digit NAICS code.

Thanks so much for the responses.

Return to Top

Moderator:  Andy_Z