Bank Secrecy Act Delayed Implementation of Revised Suspicious Activity Report by Depository Institutions Form

Highlights:

• On May 1, 2007, FinCEN published the attached Federal Register notice announcing a delay in the implementation of the revised SAR-DI form, which was scheduled to become effective on June 30, 2007, and mandatory on December 31, 2007.
• The form is being revised to standardize it with SARs used by financial institutions in other industries, and to facilitate joint filing with other depository institutions.
• FinCEN will announce new effective and mandatory dates for the revised form in a future Federal Register notice.
• This announcement does not impact ongoing BSA filing requirements. Financial institutions should continue to report suspicious activity by using the current SAR-DI form.

Distribution:
FDIC-Supervised Banks (Commercial and Savings)

Suggested Routing:
Chief Executive Officer
BSA Compliance Officer

Note:
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at: http://www.fdic.gov/news/financial-institution-letters/2007/index.html .

To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html .

Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342 or 202-416-6940).