Regulatory Alerts2016-11-04
Added
Technical Amendments to Various Bank Secrecy Act Regulations
FinCEN amends 31 CFR parts 1010, 1020, 1021, 1022, 1023, 1024, 1025, and 1026 to update references to obsolete Bank Secrecy Act forms, replacing industry-specific designations such as SARC, SAR-MSB, and SAR-SF with the unified term SAR. The rule removes outdated references to microfilm as an acceptable recordkeeping storage media and replaces references to filing reports with the Commissioner of Internal Revenue or the Internal Revenue Service with references to FinCEN and the BSA E-Filing System. These technical amendments take effect on November 4, 2016.
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