FinCEN Releases Technical E-Filing Specs for New CTR and SAR and Announces Informational Webinar

FinCEN has released electronic filing requirements for the Currency Transaction Report (CTR) and Suspicious Activity Report (SAR). The BSA E-Filing system will begin accepting batch filings matching the specifications for the new CTR and SAR in December 2011. Batch filers will have until June 30, 2012, to update their systems to these new specifications.

FinCEN will hold an informational webinar to discuss the new specifications on Thursday, Sept. 29, 2011. This webinar is intended specifically for information technology (IT) professionals who will be responsible for integrating the new CTR and SAR technical specifications into financial institution BSA E-Filing batch filing processes. These may be vendors of batch filing programs as well as in-house IT financial institution staff. FinCEN recommends that attendees review the specifications prior to the webinar and prepare specific questions for discussion.

During this Webinar, FinCEN representatives will discuss the following topics:

  • Overview of the major changes to the BSA E-Filing specifications
  • Dates for testing, implementation, and compliance to the BSA E-Filing specifications
  • Overview of BSA E-Filing test site and testing process
  • Questions or comments about the BSA E-Filing specifications for the new CTR and SAR

For more information and to register for the webinar, read FinCEN’s press release on the subject.

 

Questions? Contact the Compliance Hotline: 1.800.546.4465, compliance@nwcua.org.

Posted in Compliance.