Regulatory Alerts2013-06-24
Administrative Difficulties in Submitting Electronic Reports to FinCEN
The Financial Crimes Enforcement Network (FinCEN) acknowledges that financial institutions and individuals may face administrative difficulties, such as natural disasters or lack of internet access, in meeting mandatory electronic filing deadlines for Bank Secrecy Act reports and FBARs. Affected parties are required to contact FinCEN’s Regulatory Helpline to report compliance concerns and determine possible alternatives for timely reporting. FinCEN will collaborate with these entities to develop necessary remedies and ensure their primary federal regulator is informed of the situation.
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