I would like to exempt a yearly summer community rodeo/fair. They meet the eight transactions exceeding $10,000 during the three weeks that they operate the rodeo/fair and have been customers of the bank for years. I have been told to designate them as a seasonal exemption so only the transactions during a designated time period are exempt. While completing the FinCEN form 110, I noticed that there is no place to designate this. How exactly do I document this or is this something that I would do on our end? Do I complete the exemption form and then after the rodeo concludes, revoke them then next year repeat the whole process?
Where can I find the verbiage for the CIP notice?