$50,000 amounts in subsection (a) and subsection (e) shall be increased by an amount equal to— (A) such dollar amount, multiplied by (B) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting calendar year 2023 for calendar year 2016 in subparagraph (A)(ii) thereof. (2) Rounding If any dollar amount increased under paragraph (1) is not a multiple of $100, such dollar amount shall be rounded to the nearest multiple of $100. . (c) Furnishment of information by foreign financial institutions to owners of specified foreign financial assets Section 1471(c) of such Code is amended by adding at the end the following new paragraph: (4) Requirement to provide information to account holders If a foreign financial institution submits a report under this section, such institution shall provide account holders with a copy of such report within 15 days of such submission. . (d) Disclosure of specified foreign financial assets to the financial crimes enforcement network Section 6103(l) of such Code is amended by adding at the end the following new paragraph: (23) Disclosure of specified foreign financial assets to the financial crimes enforcement network The Secretary may, upon written request, furnish to the proper officers and employees of the Financial Crimes Enforcement Network such return information with respect to specified foreign financial assets as is attached to tax returns pursuant to section 6038D, but only to the extent necessary in investigating suspected money laundering or the financing of terrorism. . (e) Effective date (1) The amendments made by subsection (a) shall apply to reports filed with respect to calendar years beginning after the date of the enactment of this Act. (2) The amendments made by subsections (b), (c), and (d) shall apply to returns filed with respect to taxable years beginning after the date of the enactment of this Act.