1. US SAR User Guide
  2. Analyzing Reports
  3. Filing Institution Information
  4. Reporting Information

6.2.1 Reporting Information

Use this pane to select the report filing type such as Initial Report, Correct/Amend Prior Report, Continuing Activity Report, and Joint Report.

To select the required report filing type, follow these steps:
  1. On the Filing Institution Information tab. Go to the Reporting Information pane.
  2. Select the report filing type.

    Table 6-1 Report Filling Type fields and description

    Fields Description
    Initial Report Select Initial Report to submit the report to FinCEN for the first time.
    Correct/ Amend Prior Report

    Select Correct/Amend Prior Report to resubmit the report to FinCEN. This report was previously submitted, but after modification, it was resubmitted to correct the information provided earlier.

    NOTE: A corrected report must refer to the previously submitted report by the BSA ID of the previous report.
    Continuing Activity Report

    Select Continuing Activity Report to submit the report to FinCEN. This report is submitted to the regulator to report additional activities and to declare continuous behavior as related to one or more previously submitted reports on the same subject.

    A continuing report must be filed on suspicious activity that continues after an initial FinCEN SAR is filed.

    Financial institutions with SAR requirements may file SARs for continuing activity after a 90-day review, with the filing deadline being 120 days after the date of the previously related SAR filing.

    Financial institutions may also file SARs on continuing activity earlier than the 120-day deadline if the institution believes the activity warrants earlier review by law enforcement.

    Continuing reports must be completed in their entirety, including information about all subjects involved in the suspicious activity and all

    financial institutions where the activity occurred. The continuing report Part V narrative must include all details of the suspicious activity for the 90 days encompassed by the report, and only such data from prior reports as is necessary to understand the activity.

    Donot reproduce the narratives from prior reports in the continuing report. Provide both the dollar amount involved in the suspicious activity for the 90 days in Item 26 and the cumulative dollar amount for the current and all prior related reports in Item 28.

    If continuing losses are involved for any financial institution recorded in Part III, record the 90-day loss in Item 63 and the cumulative loss in Part V.

    NOTE: If a report is designated as a Continuing Activity report, then you must provide the BSA/DCN Number of the previously filed report along with the Total Cumulative Amount and Total Suspicious Amount.

    For example,

    • Total Cumulative Amount (Parent SAR Amount + Current CARamount)
    • Total Suspicious Amount is the Current CARAmount
    Joint Report Select Joint Report to submit the report to FinCEN. This report is filed by the current filing institution in collaboration with another financial institution.
    Filing Institution Note to FinCEN Enter the notes that you want to mention to FinCEN.

    Note:

    If you have selected the report as Joint Report and have not selected Initial Report or Correct/Amend Prior Report or Continuing Activity Report, then the system displays an error message.