### Question
How is the term physical presence defined?


### Answer
The term **physical presence** is defined in *31 U.S.C. § 5318* as the following:

> a place of business that—


(i) is maintained by a foreign bank

#### Citation:
  - *31 U.S.C. § 5318*
  - Heading: **SUBTITLE IV-MONEY > CHAPTER 53-MONETARY TRANSACTIONS > SUBCHAPTER II-RECORDS AND REPORTS ON MONETARY INSTRUMENTS TRANSACTIONS**

