Forum

U.S. Supreme Court

Case Status

Decided

Docket Number

Term

2022 Term

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Questions Presented

Whether a “violation” under the Act is the failure to file an annual FBAR (no matter the number of foreign accounts), or whether there is a separate violation for each individual account that was not properly reported.

Case Updates

Supreme Court holds that the Bank Secrecy Act’s $10,000 maximum penalty for the nonwillful failure to file a compliant report accrues on a per-report, not a per-account, basis

February 28, 2023

Click here to view the opinion.

U.S. Chamber files amicus brief urging Supreme Court to properly apply the rule of lenity to hold that a “violation” of the Bank Secrecy Act’s reporting requirement means a failure to file an annual form

August 25, 2022

Click here to view the brief. Joseph R. Palmore, Adam L. Sorensen, and Edward L. Froelich of Morrison & Foerster LLP and the U.S. Chamber’s Litigation Center served as co-counsel for the U.S. Chamber.

The U.S. Chamber also filed an amicus brief supporting the cert. petition.

Cert. petition granted

June 21, 2022

U.S. Chamber urges Supreme Court to resolve circuit split over tax penalties for non-willful violations of the Bank Secrecy Act

April 01, 2022

Click here to view the Chamber's amicus brief. Joseph R. Palmore and Adam L. Sorensen of Morrison & Foerster LLP and the U.S. Chamber’s Litigation Center served as co-counsel for the U.S. Chamber.

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