Important Update for BSA E-Filers on SAR Validations Implementation

On December 12, 2009, FinCEN will implement the second phase of the BSA E-Filing SAR Acknowledgements and Validation process. Phase I was implemented in September 2009 and provided BSA E-Filers with an acknowledgement of receipt for a submitted Suspicious Activity Report (SAR). Phase II applies data quality checks and will provide filers with information on the quality of their submissions for electronically filed SARs of all types: Suspicious Activity Report by Depository Institutions (SAR-DI), Suspicious Activity Report by the Securities and Futures Industries (SAR-SF), Suspicious Activity Report by Casinos and Card Clubs (SAR-C), and Suspicious Activity Report by Money Services Businesses (SAR-MSB). The BSA Electronic Filing Requirements have been revised to include the SAR Acknowledgement file record formats and SAR Validation error codes.

The BSA E-Filing system offers filers a self-enrollment feature to allow financial institutions to register to receive SAR Acknowledgement files when they are ready to begin using the error feedback provided. There is no enrollment deadline at this time; however, FinCEN strongly encourages filers to enroll to receive this critical feedback.

Please direct questions about the SAR Batch Validation process to the BSA E-Filing Help Desk at 1-888-827-2778 (option 6) or via email at BSAEFilingHelp@notes.tcs.treas.gov. The Help Desk is available Monday through Friday 8 a.m. to 6 p.m. ET. The BSA E-Filing homepage is located at http://bsaefiling.fincen.treas.gov.