S. 3056 - Prohibiting IRS Financial Surveillance Act

117TH CONGRESS
1ST SESSION

S. 3056

To prohibit the implementation of new requirements
to report bank account deposits and withdrawals.

IN THE SENATE OF THE UNITED STATES

OCTOBER 21, 2021

Mr. SCOTT of South Carolina introduced the following bill;
which was read twice and referred to the Committee on _____

A BILL

To prohibit the implementation of new requirements to report bank account deposits and withdrawals.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the "Prohibiting IRS Financial Surveillance Act".

SEC. 2. PROHIBITION ON NEW REQUIREMENTS TO REPORT BANK ACCOUNT DEPOSITS AND WITHDRAWALS.

The Secretary of the Treasury (including any delegate of the Secretary) may not require any financial institution to report — 

(1) the inflows or outflows of any account maintained by such institution, or

(2) any balances, transactions, transfers, or similar information with respect to any such account, except to the extent that such reporting is required under any program, or other provision of law, as in effect on the date of the enactment of this Act.