October Term 2022 · Docket 21-1195
Does the Bank Secrecy Act allow one penalty per unreported account?
The dispute centers on whether the government can charge a separate civil penalty for each foreign account a person fails to report.
Verified source milestones
- — An official oral-argument transcript was verified.
- — An official oral-argument transcript was verified.
- — An official Court opinion was verified.
The arguments, in order
This case may have been argued more than once. Each entry below uses that session's official transcript. Later arguments do not erase earlier ones.
Argument 1 ·
What happened at the argument
Mr. Geyser argued that ignorance of the law is not an excuse for non-compliance.
Mr. Guarnieri stated the Bank Secrecy Act authorizes a separate penalty for each account.
Mr. Guarnieri claimed the side that brought the case never found a case supporting a single penalty for multiple accounts.
Read the official transcript for this argument · Official argument details
Sources used for this argument breakdown
- Official Supreme Court Transcript — file page 10, lines 19-35 — Transcript, file page 10, lines 19-35
- Official Supreme Court Transcript — file page 12, lines 9-41 — Transcript, file page 12, lines 9-41
- Official Supreme Court Transcript — file page 14, lines 9-33 — Transcript, file page 14, lines 9-33
- Official Supreme Court Transcript — file page 17, lines 19-1 — Transcript, file page 17, lines 19-1
- Official Supreme Court Transcript — file page 18, lines 43-43 — Transcript, file page 18, lines 43-43
- Official Supreme Court Transcript — file page 18, lines 45-51 — Transcript, file page 18, lines 45-51
- Official Supreme Court Transcript — file page 19, lines 17-41 — Transcript, file page 19, lines 17-41
- Official Supreme Court Transcript — file page 19, lines 7-11 — Transcript, file page 19, lines 7-11
- Official Supreme Court Transcript — file page 4, lines 11-21 — Transcript, file page 4, lines 11-21
- Official Supreme Court Transcript — file page 4, lines 23-27 — Transcript, file page 4, lines 23-27
- Official Supreme Court Transcript — file page 47, lines 21-15 — Transcript, file page 47, lines 21-15
- Official Supreme Court Transcript — file page 5, lines 49-11 — Transcript, file page 5, lines 49-11
- Official Supreme Court Transcript — file page 66, lines 49-17 — Transcript, file page 66, lines 49-17
- Official Supreme Court Transcript — file page 67, lines 19-29 — Transcript, file page 67, lines 19-29
- Official Supreme Court Transcript — file page 68, lines 25-27 — Transcript, file page 68, lines 25-27
- Official Supreme Court Transcript — file page 68, lines 7-11 — Transcript, file page 68, lines 7-11
- Official Supreme Court Transcript — file page 69, lines 41-47 — Transcript, file page 69, lines 41-47
- Official Supreme Court Transcript — file page 7, lines 17-1 — Transcript, file page 7, lines 17-1
- Official Supreme Court Transcript — file page 71, lines 27-1 — Transcript, file page 71, lines 27-1
- Official Supreme Court Transcript — file page 73, lines 37-7 — Transcript, file page 73, lines 37-7
- Official Supreme Court Transcript — file page 76, lines 21-25 — Transcript, file page 76, lines 21-25
- Official Supreme Court Transcript — file page 76, lines 41-41 — Transcript, file page 76, lines 41-41
- Official Supreme Court Transcript — file page 76, lines 43-49 — Transcript, file page 76, lines 43-49
- Official Supreme Court Transcript — file page 77, lines 17-27 — Transcript, file page 77, lines 17-27
- Official Supreme Court Transcript — file page 77, lines 43-49 — Transcript, file page 77, lines 43-49
- Official Supreme Court Transcript — file page 77, lines 53-21 — Transcript, file page 77, lines 53-21
- Official Supreme Court Transcript — file page 8, lines 15-39 — Transcript, file page 8, lines 15-39
- Official Supreme Court Transcript — file page 82, lines 17-25 — Transcript, file page 82, lines 17-25
- Official Supreme Court Transcript — file page 9, lines 11-23 — Transcript, file page 9, lines 11-23
A citizen's guide to the whole case
What this case is about
This case tests the scope of civil penalties under the Bank Secrecy Act. the side that brought the case argues the statute limits fines to one per person. The government contends Congress intended a separate fine for every unreported account.
Official sources for this section
- Official Supreme Court Transcript — file page 4, lines 23-27 — Transcript, file page 4, lines 23-27
- Official Supreme Court Transcript — file page 47, lines 21-15 — Transcript, file page 47, lines 21-15
- Official Supreme Court Transcript — file page 66, lines 49-17 — Transcript, file page 66, lines 49-17
- Official Supreme Court Transcript — file page 82, lines 17-25 — Transcript, file page 82, lines 17-25
How the case got here
The Supreme Court heard oral argument in this case on November 2, 2022.
Official sources for this section
- Official Supreme Court Transcript — file page 4, lines 11-21 — Transcript, file page 4, lines 11-21
- Official Supreme Court Transcript — file page 71, lines 27-1 — Transcript, file page 71, lines 27-1
What each side wants
the side that brought the case wants the Court to limit the penalty to one fine per person.
The government wants the Court to allow a separate fine for each unreported account.
Official sources for this section
- Official Supreme Court Transcript — file page 4, lines 23-27 — Transcript, file page 4, lines 23-27
- Official Supreme Court Transcript — file page 47, lines 21-15 — Transcript, file page 47, lines 21-15
- Official Supreme Court Transcript — file page 66, lines 49-17 — Transcript, file page 66, lines 49-17
- Official Supreme Court Transcript — file page 82, lines 17-25 — Transcript, file page 82, lines 17-25
What each side says
the side that brought the case argues the statute does not authorize multiple penalties for a single failure to report.
The government argues the statutory text and regulations support a penalty for each individual account.
Official sources for this section
- Official Supreme Court Transcript — file page 4, lines 23-27 — Transcript, file page 4, lines 23-27
- Official Supreme Court Transcript — file page 47, lines 21-15 — Transcript, file page 47, lines 21-15
- Official Supreme Court Transcript — file page 66, lines 49-17 — Transcript, file page 66, lines 49-17
- Official Supreme Court Transcript — file page 82, lines 17-25 — Transcript, file page 82, lines 17-25
What the justices asked
Justice Kagan asked if the side that brought the case's view forces equal treatment for small and large accounts.
Justice Kavanaugh noted the unusual nature of draconian penalties for non-willful violations.
Official sources for this section
- Official Supreme Court Transcript — file page 10, lines 19-35 — Transcript, file page 10, lines 19-35
- Official Supreme Court Transcript — file page 12, lines 9-41 — Transcript, file page 12, lines 9-41
- Official Supreme Court Transcript — file page 14, lines 9-33 — Transcript, file page 14, lines 9-33
- Official Supreme Court Transcript — file page 17, lines 19-1 — Transcript, file page 17, lines 19-1
- Official Supreme Court Transcript — file page 18, lines 43-43 — Transcript, file page 18, lines 43-43
- Official Supreme Court Transcript — file page 18, lines 45-51 — Transcript, file page 18, lines 45-51
- Official Supreme Court Transcript — file page 19, lines 17-41 — Transcript, file page 19, lines 17-41
- Official Supreme Court Transcript — file page 19, lines 7-11 — Transcript, file page 19, lines 7-11
- Official Supreme Court Transcript — file page 5, lines 49-11 — Transcript, file page 5, lines 49-11
- Official Supreme Court Transcript — file page 67, lines 19-29 — Transcript, file page 67, lines 19-29
- Official Supreme Court Transcript — file page 68, lines 25-27 — Transcript, file page 68, lines 25-27
- Official Supreme Court Transcript — file page 68, lines 7-11 — Transcript, file page 68, lines 7-11
- Official Supreme Court Transcript — file page 69, lines 41-47 — Transcript, file page 69, lines 41-47
- Official Supreme Court Transcript — file page 7, lines 17-1 — Transcript, file page 7, lines 17-1
- Official Supreme Court Transcript — file page 71, lines 27-1 — Transcript, file page 71, lines 27-1
- Official Supreme Court Transcript — file page 73, lines 37-7 — Transcript, file page 73, lines 37-7
- Official Supreme Court Transcript — file page 76, lines 21-25 — Transcript, file page 76, lines 21-25
- Official Supreme Court Transcript — file page 76, lines 41-41 — Transcript, file page 76, lines 41-41
- Official Supreme Court Transcript — file page 76, lines 43-49 — Transcript, file page 76, lines 43-49
- Official Supreme Court Transcript — file page 77, lines 17-27 — Transcript, file page 77, lines 17-27
- Official Supreme Court Transcript — file page 77, lines 43-49 — Transcript, file page 77, lines 43-49
- Official Supreme Court Transcript — file page 77, lines 53-21 — Transcript, file page 77, lines 53-21
- Official Supreme Court Transcript — file page 8, lines 15-39 — Transcript, file page 8, lines 15-39
- Official Supreme Court Transcript — file page 9, lines 11-23 — Transcript, file page 9, lines 11-23
Why it matters
The outcome defines the financial risk for individuals with multiple foreign accounts. It determines whether a single oversight triggers one fine or many. This rule shapes compliance costs for wealthy taxpayers and small account holders alike.
Official sources for this section
- Official Supreme Court Transcript — file page 4, lines 23-27 — Transcript, file page 4, lines 23-27
- Official Supreme Court Transcript — file page 47, lines 21-15 — Transcript, file page 47, lines 21-15
- Official Supreme Court Transcript — file page 66, lines 49-17 — Transcript, file page 66, lines 49-17
- Official Supreme Court Transcript — file page 82, lines 17-25 — Transcript, file page 82, lines 17-25
What happens next
This article currently covers the argument record. Use the official docket link for later case activity.
Official sources for this section
- Official Supreme Court Transcript — file page 10, lines 19-35 — Transcript, file page 10, lines 19-35
- Official Supreme Court Transcript — file page 12, lines 9-41 — Transcript, file page 12, lines 9-41
- Official Supreme Court Transcript — file page 14, lines 9-33 — Transcript, file page 14, lines 9-33
- Official Supreme Court Transcript — file page 17, lines 19-1 — Transcript, file page 17, lines 19-1
- Official Supreme Court Transcript — file page 18, lines 43-43 — Transcript, file page 18, lines 43-43
- Official Supreme Court Transcript — file page 18, lines 45-51 — Transcript, file page 18, lines 45-51
- Official Supreme Court Transcript — file page 19, lines 17-41 — Transcript, file page 19, lines 17-41
- Official Supreme Court Transcript — file page 19, lines 7-11 — Transcript, file page 19, lines 7-11
- Official Supreme Court Transcript — file page 4, lines 11-21 — Transcript, file page 4, lines 11-21
- Official Supreme Court Transcript — file page 5, lines 49-11 — Transcript, file page 5, lines 49-11
- Official Supreme Court Transcript — file page 67, lines 19-29 — Transcript, file page 67, lines 19-29
- Official Supreme Court Transcript — file page 68, lines 25-27 — Transcript, file page 68, lines 25-27
- Official Supreme Court Transcript — file page 68, lines 7-11 — Transcript, file page 68, lines 7-11
- Official Supreme Court Transcript — file page 69, lines 41-47 — Transcript, file page 69, lines 41-47
- Official Supreme Court Transcript — file page 7, lines 17-1 — Transcript, file page 7, lines 17-1
- Official Supreme Court Transcript — file page 71, lines 27-1 — Transcript, file page 71, lines 27-1
- Official Supreme Court Transcript — file page 73, lines 37-7 — Transcript, file page 73, lines 37-7
- Official Supreme Court Transcript — file page 76, lines 21-25 — Transcript, file page 76, lines 21-25
- Official Supreme Court Transcript — file page 76, lines 41-41 — Transcript, file page 76, lines 41-41
- Official Supreme Court Transcript — file page 76, lines 43-49 — Transcript, file page 76, lines 43-49
- Official Supreme Court Transcript — file page 77, lines 17-27 — Transcript, file page 77, lines 17-27
- Official Supreme Court Transcript — file page 77, lines 43-49 — Transcript, file page 77, lines 43-49
- Official Supreme Court Transcript — file page 77, lines 53-21 — Transcript, file page 77, lines 53-21
- Official Supreme Court Transcript — file page 8, lines 15-39 — Transcript, file page 8, lines 15-39
- Official Supreme Court Transcript — file page 9, lines 11-23 — Transcript, file page 9, lines 11-23
Official Court provenance
Official docket and case history · Official Supreme Court oral-argument detail page
Verified official opinions and orders
Title and summary sources
- Official Supreme Court Transcript — file page 4, lines 23-27 — Transcript, file page 4, lines 23-27
- Official Supreme Court Transcript — file page 47, lines 21-15 — Transcript, file page 47, lines 21-15
- Official Supreme Court Transcript — file page 66, lines 49-17 — Transcript, file page 66, lines 49-17
- Official Supreme Court Transcript — file page 82, lines 17-25 — Transcript, file page 82, lines 17-25
- Official Supreme Court Transcript — file page 4, lines 23-27 — Transcript, file page 4, lines 23-27
- Official Supreme Court Transcript — file page 47, lines 21-15 — Transcript, file page 47, lines 21-15
- Official Supreme Court Transcript — file page 66, lines 49-17 — Transcript, file page 66, lines 49-17
- Official Supreme Court Transcript — file page 82, lines 17-25 — Transcript, file page 82, lines 17-25
Revision history
- Revision 1 · Post Opinion ·
Correction: Rewritten to the concise citizen-facing editorial standard.
- Revision 2 · Post Opinion ·
Correction: Migrated to the dated official Court activity contract without model use.