| name | sar-filing |
| language | en |
| description | 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. |
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.
