FinCEN Mandatory Filing
May 8, 2012
Electronic filing of Currency Transaction Reports (CTRs), Suspicious Activity Reports (SARs), and Designations of Exempt Persons (DOEPs) becomes mandatory July 1, 2012. Paper versions of these forms will no longer be accepted by the Enterprise Computing Center as of July 1, 2012.
The Financial Crimes Enforcement Network (FinCEN) implemented this requirement in an effort to improve efficiency, reduce costs for the financial industry, and enhance the ability of investigators, analysts, and examiners to gain better and more timely access to important financial information.
If you have not already registered to electronically file BSA reports, you must register at: http://bsaefiling.fincen.treas.gov/main.html to enroll prior to the deadline. We advise doing this as soon as possible.
If you would like more information or have questions, please contact us at 800.486.3454 or at WipfliFIPractice@wipfli.com.