Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
NEW FinCEN e-filing change results in user issues
WASHINGTON (UPDATED: 1:20 P.M. ET, 7/6/12)--The Financial Crimes Enforcement Network's (FinCEN) Bank Secrecy Act (BSA) e-filing system, and e-filing telephone help desk, are both experiencing extremely high volume, and this volume is creating issues for some users, FinCEN has said.

The high e-filing volume "may result in intermittent delays in a filer's ability to submit required reports or complete the on-line application process for a new BSA E-Filing System account," FinCEN said in a post on its homepage, www.fincen.gov. The high call volume is resulting in extended hold times and, in some cases, busy signals, FinCEN added.

FinCEN said it is aware of both of these issues, and is working to resolve them. In the meantime, e-filing system users that are having issues can reach FinCEN staff at the following addresses:

  • For E-File technical questions: BSAEfilinghelp@fincen.gov
  • For regulatory inquiries related to form completion or selection:BSA_Resource_Center@fincen.gov
  • For form completion or selection issues specific to FBAR: fbarquestions@irs.gov
  • For law enforcement related matters: liaisonservices@fincen.gov
  • 314 Inquiries from Law Enforcement: le314a@fincen.gov
  • 314 Inquiries from Financial Institutions: sys314a@fincen.gov
  • General FinCEN Inquiries: webmaster@fincen.gov
  • For any other matters, you can also send your inquiry to webmaster@fincen.gov.
Electronic filing of all BSA reports became mandatory on July 1. Currency Transaction Reports, Designations of Exempt Persons, and Suspicious Activity Reports are among the reports that can be e-filed. Almost all BSA reports now need to be e-filed, but Currency and Monetary Instrument Reports are not covered under the e-filing requirement.

FinCEN has said the switch to all-electronic BSA filing will 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. Increased BSA E-Filing will also help speed up financial crime investigations, the agency added.


RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
1 Day ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
1 Day ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
1 Day ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
1 Day ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
1 Day ago