7.2 Approving/Rejecting/Closing Reports

The Regulatory Report Details page allows you to approve, reject, or close the regulatory reports.

You can approve, reject, or close the report only when all the mandatory fields in the Report Details tabs are complete.

If the report is approved, an e-file is generated for the report. The generated e-file is submitted with FinCEN’s BSA E-Filing System.

If the report is rejected, then you must rework the report and submit the report for approval, or you can close the report. If you close the report after being rejected, then the status of the report changes to Closed. But if you choose to rework the report, then the status of the report changes to Request for Approval, which must again be validated and approved by authorized users. This process continues until the report is approved or closed.

If you close the report, the report details cannot be edited, and the report is in View mode. For more information on user roles, see .

This section covers the following topics:

• Approving Reports
• Rejecting Reports
• Closing Reports