### Question
How is the "nonfinancial trade or business" defined?


### Answer
The term **nonfinancial trade or business** is defined in *31 U.S.C. § 5312* as follows -

> any trade or business other than a financial institution that is subject to the reporting requirements of section 5313 and regulations prescribed under such section

#### Citation:
  - *31 U.S.C. § 5312*
  - Heading: **SUBTITLE IV-MONEY > CHAPTER 53-MONETARY TRANSACTIONS > SUBCHAPTER II-RECORDS AND REPORTS ON MONETARY INSTRUMENTS TRANSACTIONS**

