SAR Filing
Drafts a FinCEN-ready SAR (Form 111) from transaction records, investigation files, and institutional data.
Prerequisites
Gather before drafting:
- Transaction records — amounts, dates, account numbers, instrument types
- CIP/KYC documentation — government IDs, SSN/TIN, beneficial ownership
- Investigation file — alerts, internal notes, employee observations
- Filer details — institution legal name, EIN, LEI, regulator, SAR contact
- Prior SAR history (continuing filings) — BSA IDs, filing dates
Quick Start
- Determine filing type: Initial / Continuing / Corrective
- Verify thresholds: ≥$5,000 (subject identified) or ≥$25,000 (no subject)
- Confirm deadline: 30 days from detection (60 if no subject identified)
- Draft sections in order below
- Run compliance checklist before submission
SAR Sections
1. Filing Header
| Field |
Detail |
| Filing type |
Initial / Continuing / Corrective |
| Institution |
Legal name, EIN/LEI |
| Regulator |
OCC / Fed / FDIC / NCUA / State |
| SAR contact |
Name, title, phone, secure email |
| Detection date |
When activity first identified |
| Filing deadline |
30 days (60 if no subject) |
| Prior BSA ID |
If continuing: reference number + new trigger |
2. Subject Identification
Classify each party: Subject, Purchaser/Sender, Payee/Receiver, Other.
Individuals: Legal name, aliases, DOB, SSN/ITIN, address, government ID (type/number/jurisdiction/expiration). Foreign nationals: passport, citizenship, visa, high-risk jurisdiction nexus.
Entities: Legal name, DBAs, EIN, formation state/date, business nature, beneficial owners (≥25% ownership or substantial control).
Relationships: Document familial, business, signatory, nominee, or intermediary connections between parties.
3. Account Detail
For each account: number, type, open date, status (active/closed/restricted/frozen), holders/signers, stated purpose, baseline activity profile, and deviations triggering concern.
Include: branch contacts, prior compliance concerns, correspondent/MSB/processor relationships with fund-flow tracing, CIP/CDD/EDD procedures performed, closure details if applicable.
4. Activity Classification
Select FinCEN categories:
| Category |
Examples |
| Structuring |
Below CTR thresholds |
| Money laundering |
Layering, integration, funnel accounts |
| Terrorist financing |
OFAC/SDN nexus |
| Fraud |
Check kiting, wire fraud, elder exploitation |
| Identity crimes |
Synthetic ID, stolen credentials |
| Cyber |
Account takeover, intrusion-related transfers |
| Sanctions evasion |
Sanctioned jurisdictions/persons |
| Other |
Unlicensed MSB, trade-based ML, human trafficking |
Thresholds: ≥$5,000 (subject identified) / ≥$25,000 (no subject). For blocked/attempted transactions, explain why filing is warranted. Confirm no exemption applies and filing is not duplicative.
State total dollar amount, currency, and complete time period.
5. Narrative
Address Who/What/When/Where/Why/How chronologically:
- Detection — How identified (alert, referral, LE inquiry, audit); specific trigger; why not false positive
- Timeline — Each significant transaction: date, type, amount, source→destination, stated purpose, unusual characteristics
- Red flags — Map facts to indicators: reluctance to provide info, no economic purpose, rapid in/out movement, structuring, shell companies, high-risk jurisdictions, profile inconsistencies. Cite FFIEC BSA/AML Manual or FinCEN advisories where applicable.
- Investigation — Customer contact attempts and responses, why insufficient, public records research, prior SARs (BSA IDs and dates)
- Conclusion — Factual basis for filing. Objective tone only — no conclusions about criminal intent.
6. Supporting Documentation
Index attachments by category: transaction records, customer ID docs, correspondence, monitoring system output, investigation memos, inter-institution communications. Label each with title and narrative relevance.
Compliance Checklist
Critical Rules
- Confidentiality is absolute. SAR disclosure prohibition (31 U.S.C. § 5318(g)(2)) carries criminal penalties. Never reference SAR existence in customer-facing communications.
- Objectivity only. State facts and observations. Never conclude criminal guilt or legal violations.
- Over-include. FinCEN prefers detailed narratives.
- Standalone. Must be comprehensible without access to underlying bank records.
- Continuing filings must reference prior BSA IDs and identify what is new.
- Safe harbor (31 U.S.C. § 5318(g)(3)) applies to good-faith filings — document investigative process thoroughly.
1---2name: sar-filing3description: Drafts FinCEN Suspicious Activity Reports (Form 111) for BSA/AML regulatory filing. Compiles subject identification, transaction timelines, red-flag analysis, and activity classifications. Use when a financial institution detects suspicious transactions requiring mandatory SAR filing, continuing activity reports, or BSA compliance documentation.4---56# SAR Filing78Drafts a FinCEN-ready SAR (Form 111) from transaction records, investigation files, and institutional data.910## Prerequisites1112Gather before drafting:13141. **Transaction records** — amounts, dates, account numbers, instrument types152. **CIP/KYC documentation** — government IDs, SSN/TIN, beneficial ownership163. **Investigation file** — alerts, internal notes, employee observations174. **Filer details** — institution legal name, EIN, LEI, regulator, SAR contact185. **Prior SAR history** (continuing filings) — BSA IDs, filing dates1920## Quick Start21221. Determine filing type: Initial / Continuing / Corrective232. Verify thresholds: ≥$5,000 (subject identified) or ≥$25,000 (no subject)243. Confirm deadline: 30 days from detection (60 if no subject identified)254. Draft sections in order below265. Run compliance checklist before submission2728## SAR Sections2930### 1. Filing Header3132| Field | Detail |33|---|---|34| Filing type | Initial / Continuing / Corrective |35| Institution | Legal name, EIN/LEI |36| Regulator | OCC / Fed / FDIC / NCUA / State |37| SAR contact | Name, title, phone, secure email |38| Detection date | When activity first identified |39| Filing deadline | 30 days (60 if no subject) |40| Prior BSA ID | If continuing: reference number + new trigger |4142### 2. Subject Identification4344Classify each party: Subject, Purchaser/Sender, Payee/Receiver, Other.4546**Individuals:** Legal name, aliases, DOB, SSN/ITIN, address, government ID (type/number/jurisdiction/expiration). Foreign nationals: passport, citizenship, visa, high-risk jurisdiction nexus.4748**Entities:** Legal name, DBAs, EIN, formation state/date, business nature, beneficial owners (≥25% ownership or substantial control).4950**Relationships:** Document familial, business, signatory, nominee, or intermediary connections between parties.5152### 3. Account Detail5354For each account: number, type, open date, status (active/closed/restricted/frozen), holders/signers, stated purpose, baseline activity profile, and deviations triggering concern.5556Include: branch contacts, prior compliance concerns, correspondent/MSB/processor relationships with fund-flow tracing, CIP/CDD/EDD procedures performed, closure details if applicable.5758### 4. Activity Classification5960Select FinCEN categories:6162| Category | Examples |63|---|---|64| Structuring | Below CTR thresholds |65| Money laundering | Layering, integration, funnel accounts |66| Terrorist financing | OFAC/SDN nexus |67| Fraud | Check kiting, wire fraud, elder exploitation |68| Identity crimes | Synthetic ID, stolen credentials |69| Cyber | Account takeover, intrusion-related transfers |70| Sanctions evasion | Sanctioned jurisdictions/persons |71| Other | Unlicensed MSB, trade-based ML, human trafficking |7273**Thresholds:** ≥$5,000 (subject identified) / ≥$25,000 (no subject). For blocked/attempted transactions, explain why filing is warranted. Confirm no exemption applies and filing is not duplicative.7475State total dollar amount, currency, and complete time period.7677### 5. Narrative7879Address Who/What/When/Where/Why/How chronologically:80811. **Detection** — How identified (alert, referral, LE inquiry, audit); specific trigger; why not false positive822. **Timeline** — Each significant transaction: date, type, amount, source→destination, stated purpose, unusual characteristics833. **Red flags** — Map facts to indicators: reluctance to provide info, no economic purpose, rapid in/out movement, structuring, shell companies, high-risk jurisdictions, profile inconsistencies. Cite FFIEC BSA/AML Manual or FinCEN advisories where applicable.844. **Investigation** — Customer contact attempts and responses, why insufficient, public records research, prior SARs (BSA IDs and dates)855. **Conclusion** — Factual basis for filing. Objective tone only — no conclusions about criminal intent.8687### 6. Supporting Documentation8889Index attachments by category: transaction records, customer ID docs, correspondence, monitoring system output, investigation memos, inter-institution communications. Label each with title and narrative relevance.9091## Compliance Checklist9293- [ ] Filed within 30-day deadline (60-day if no subject)94- [ ] All mandatory Form 111 fields completed95- [ ] Narrative addresses Who/What/When/Where/Why/How96- [ ] Dollar amounts accurate and aggregated97- [ ] All dates, account numbers, IDs verified98- [ ] Senior management/board notified per policy99- [ ] Legal counsel consulted if civil liability or non-BSA issues100- [ ] Reviewing/approving officers documented101- [ ] Filed via BSA E-Filing; confirmation + BSA ID retained102- [ ] File stored separately, access restricted to need-to-know103- [ ] 5-year retention initiated from filing date104- [ ] **No disclosure** to any subject (31 U.S.C. § 5318(g)(2))105- [ ] No inadvertent tipping via closure letters or communications106- [ ] Immediate LE notification assessed107108## Critical Rules109110- **Confidentiality is absolute.** SAR disclosure prohibition (31 U.S.C. § 5318(g)(2)) carries criminal penalties. Never reference SAR existence in customer-facing communications.111- **Objectivity only.** State facts and observations. Never conclude criminal guilt or legal violations.112- **Over-include.** FinCEN prefers detailed narratives.113- **Standalone.** Must be comprehensible without access to underlying bank records.114- **Continuing filings** must reference prior BSA IDs and identify what is new.115- **Safe harbor** (31 U.S.C. § 5318(g)(3)) applies to good-faith filings — document investigative process thoroughly.
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