Bank Secrecy Act Suspicious Activity Report (BSA-SAR)

Forms and Documents

Document Name	Status
Form FinCEN Form 111 Bank Secrecy Act Suspicious Activity Report (BSA-SAR) Form	New
U-SAR 2011 83Isupp.doc Supporting Statement A	2011-04-29

IC Document Collections

IC ID	Document Title	Status
197532	Bank Secrecy Act Suspicious Activity Report (BSA-SAR) Form	New

ICR Details

OMB Control No: 1506-0065	ICR Reference No: 201104-1506-002
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: TREAS/FINCEN	Agency Tracking No:
Title: Bank Secrecy Act Suspicious Activity Report (BSA-SAR)
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/15/2011
	Date Received in OIRA: 05/06/2011
Terms of Clearance: As part of the new system of records, a system of records notice (SORN) must be filed in conjunction with this ICR if it has not already been done. Renewal will be dependent on successful submission of a SORN.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2013	36 Months From Approved
Responses	1,335,280	0	0
Time Burden (Hours)	2,670,560	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: FinCEN is fielding a new system of record to support the collection and Dissemination of BSA data to law enforcement and other regulatory agencies. The BSA-SAR is a new dynamic information collection tool that will serve as the principle collection instrument to be used by financial institutions to record and report suspicious activity.

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Authorizing Statute(s): US Code: 31 USC 5311-5332 Name of Law: Money and Finance
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	75 FR 63545	10/15/2010
30-day Notice:	Federal Register Citation:	Citation Date:
	75 FR 26337	05/06/2011
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Bank Secrecy Act Suspicious Activity Report (BSA-SAR)	FinCEN Form 111	Bank Secrecy Act Suspicious Activity Report (BSA-SAR)

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	1,335,280	0	0	1,335,280	0	0
Annual Time Burden (Hours)	2,670,560	0	0	2,670,560	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: FinCEN's new system of record requires the fielding of a dynamic information collection tool that combines five reporting formats into one.

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Annual Cost to Federal Government:

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 05/06/2011

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