A finite element analysis has been performed to investigate the effect of die clearance on shear planes in the fine blanking of a part of automobile safety belt. For the analysis, S45C is selected as an material, which is used in manufacturing the part of automobile safety belt, and Cockcroft-Latham fracture criterion is applied. Effect of die Clearance on die-roll width, die-roll depth, burnish zone, and fracture zone has been investigated in the finite element analysis by a rigid-plastic FEM code, DEFORM-2D. From the analysis, it has been found that die-roll depth and depth of the shear plane increase with increasing die clearance. And the burnish zone decreases with increasing die clearance, but the variation of fracture zone is opposite to that of burnish zone because the increase in die clearance requires less fracture energy. Theoretical predictions are compared with experimental results. There is a good agreement between theory and experiment.