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.4license: Apache-2.05---67# SAR Filing89Drafts a FinCEN-ready SAR (Form 111) from transaction records, investigation files, and institutional data.1011## Prerequisites1213Gather before drafting:14151. **Transaction records** — amounts, dates, account numbers, instrument types162. **CIP/KYC documentation** — government IDs, SSN/TIN, beneficial ownership173. **Investigation file** — alerts, internal notes, employee observations184. **Filer details** — institution legal name, EIN, LEI, regulator, SAR contact195. **Prior SAR history** (continuing filings) — BSA IDs, filing dates2021## Quick Start22231. Determine filing type: Initial / Continuing / Corrective242. Verify thresholds: ≥$5,000 (subject identified) or ≥$25,000 (no subject)253. Confirm deadline: 30 days from detection (60 if no subject identified)264. Draft sections in order below275. Run compliance checklist before submission2829## SAR Sections3031### 1. Filing Header3233| Field | Detail |34|---|---|35| Filing type | Initial / Continuing / Corrective |36| Institution | Legal name, EIN/LEI |37| Regulator | OCC / Fed / FDIC / NCUA / State |38| SAR contact | Name, title, phone, secure email |39| Detection date | When activity first identified |40| Filing deadline | 30 days (60 if no subject) |41| Prior BSA ID | If continuing: reference number + new trigger |4243### 2. Subject Identification4445Classify each party: Subject, Purchaser/Sender, Payee/Receiver, Other.4647**Individuals:** Legal name, aliases, DOB, SSN/ITIN, address, government ID (type/number/jurisdiction/expiration). Foreign nationals: passport, citizenship, visa, high-risk jurisdiction nexus.4849**Entities:** Legal name, DBAs, EIN, formation state/date, business nature, beneficial owners (≥25% ownership or substantial control).5051**Relationships:** Document familial, business, signatory, nominee, or intermediary connections between parties.5253### 3. Account Detail5455For each account: number, type, open date, status (active/closed/restricted/frozen), holders/signers, stated purpose, baseline activity profile, and deviations triggering concern.5657Include: branch contacts, prior compliance concerns, correspondent/MSB/processor relationships with fund-flow tracing, CIP/CDD/EDD procedures performed, closure details if applicable.5859### 4. Activity Classification6061Select FinCEN categories:6263| Category | Examples |64|---|---|65| Structuring | Below CTR thresholds |66| Money laundering | Layering, integration, funnel accounts |67| Terrorist financing | OFAC/SDN nexus |68| Fraud | Check kiting, wire fraud, elder exploitation |69| Identity crimes | Synthetic ID, stolen credentials |70| Cyber | Account takeover, intrusion-related transfers |71| Sanctions evasion | Sanctioned jurisdictions/persons |72| Other | Unlicensed MSB, trade-based ML, human trafficking |7374**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.7576State total dollar amount, currency, and complete time period.7778### 5. Narrative7980Address Who/What/When/Where/Why/How chronologically:81821. **Detection** — How identified (alert, referral, LE inquiry, audit); specific trigger; why not false positive832. **Timeline** — Each significant transaction: date, type, amount, source→destination, stated purpose, unusual characteristics843. **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.854. **Investigation** — Customer contact attempts and responses, why insufficient, public records research, prior SARs (BSA IDs and dates)865. **Conclusion** — Factual basis for filing. Objective tone only — no conclusions about criminal intent.8788### 6. Supporting Documentation8990Index attachments by category: transaction records, customer ID docs, correspondence, monitoring system output, investigation memos, inter-institution communications. Label each with title and narrative relevance.9192## Compliance Checklist9394- [ ] Filed within 30-day deadline (60-day if no subject)95- [ ] All mandatory Form 111 fields completed96- [ ] Narrative addresses Who/What/When/Where/Why/How97- [ ] Dollar amounts accurate and aggregated98- [ ] All dates, account numbers, IDs verified99- [ ] Senior management/board notified per policy100- [ ] Legal counsel consulted if civil liability or non-BSA issues101- [ ] Reviewing/approving officers documented102- [ ] Filed via BSA E-Filing; confirmation + BSA ID retained103- [ ] File stored separately, access restricted to need-to-know104- [ ] 5-year retention initiated from filing date105- [ ] **No disclosure** to any subject (31 U.S.C. § 5318(g)(2))106- [ ] No inadvertent tipping via closure letters or communications107- [ ] Immediate LE notification assessed108109## Critical Rules110111- **Confidentiality is absolute.** SAR disclosure prohibition (31 U.S.C. § 5318(g)(2)) carries criminal penalties. Never reference SAR existence in customer-facing communications.112- **Objectivity only.** State facts and observations. Never conclude criminal guilt or legal violations.113- **Over-include.** FinCEN prefers detailed narratives.114- **Standalone.** Must be comprehensible without access to underlying bank records.115- **Continuing filings** must reference prior BSA IDs and identify what is new.116- **Safe harbor** (31 U.S.C. § 5318(g)(3)) applies to good-faith filings — document investigative process thoroughly.
ThomasMoreAI