"All financial institutions operating in the United States, including insured banks, savings associations, savings association service corporations, credit unions, bank holding companies, non-bank subsidiaries of bank holding companies, Edge and Agreement corporations, and U.S. branches and agencies of foreign banks, are required to make this report following the discovery of: insider abuse involving any amount, violations aggregating $5,000 or more where a suspect can be identified, violations aggregating $25,000 or more regardless of a potential suspect, or transactions aggregating $5,000 or more that involve potential money laundering or violations of the Bank Secrecy Act..." - Financial Crimes Enforcement Network, US Department of the Treasury
Credit unions must retain copies of SARs and supporting documentation for five years from the date of filing the SAR. All copies may be retained in paper or electronic format. Additionally, credit unions must provide all documentation supporting the filing of a SAR upon request by FinCEN or an appropriate law enforcement or federal banking agency. “Supporting documentation” refers to all documents or records that assisted a credit union in making the determination that certain activity required a SAR filing. No legal process is required for disclosure of supporting documentation to FinCEN or an appropriate law enforcement or federal banking agency.
Suspicious Activity Report Forms
FinCEN reports are available in electronic form through the BSA E-Filing System. FinCEN no longer accepts legacy reports. See FinCEN’s Notice of E-Filing Mandate.
FinCEN Suspicious Activity Report (FinCEN SAR) Electronic Filing Requirements (PDF)
Other Information About the Suspicious Activity Report
For more information about BSA E-Filing, review the E-Filing Section on FinCEN's website. For technology-related questions specific to E-Filing, contact the BSA E-Filing Help desk at 1-866-346-9478.
Interagency Advisory, Federal Court Reaffirms Protections for Financial Institutions Filing Suspicious Activity Reports