Suspicious Activity Report (SAR) by Depository Institutions

Forms and Documents

Document Name	Status
FINAL_3133-0094_Supporting Statement_3-23-2020_MM.docx Supporting Statement A	2020-03-23

IC Document Collections

IC ID	Document Title	Status
44190	Suspicious Activity Report	Modified

ICR Details

OMB Control No: 3133-0094	ICR Reference No: 202001-3133-003
Status: Active	Previous ICR Reference No: 201606-3133-011
Agency/Subagency: NCUA	Agency Tracking No: E&I
Title: Suspicious Activity Report (SAR) by Depository Institutions
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 05/06/2020
	Date Received in OIRA: 03/23/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2023	36 Months From Approved	05/31/2020
Responses	191,019	0	83,859
Time Burden (Hours)	191,019	0	83,859
Cost Burden (Dollars)	0	0	0

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Abstract: Information about suspicious transactions conducted or attempted by, at, through, or otherwise involving credit unions are collected through FinCEN’s, Bank Secrecy Act (BSA) E-filing system by credit unions. A suspicious activity report (SAR) is to be filed no later than 30 calendar days from the date of the initial detection of facts that may constitute a basis for filing a SAR. FinCEN and law enforcement agencies use this information and the supporting documentation retained by the banks for criminal investigation and prosecution purposes.

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Authorizing Statute(s): US Code: 31 USC 5318(g) Name of Law: Bank Secrecy Act
  

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:
	85 FR 3079	01/17/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 16387	03/23/2020
Did the Agency receive public comments on this ICR? No

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

IC Title	Form No.	Form Name
Suspicious Activity Report

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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	191,019	83,859	0	0	107,160	0
Annual Time Burden (Hours)	191,019	83,859	0	0	107,160	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement: Adjustments have been made to the number of respondents to reflect a current number of credit unions reporting. Adjustments have also been made to the number of Suspicious Activity Reports (SAR) filed by credit unions annually (frequency). In NCUA’s 2016 request to OMB, it was reported that 77,972 SARs were filed by credit unions annually; however, it has been determined that this amount was incorrectly reported due to miscalculations. The correct total number of responses per respondent is being reported as 188,087, for a total of 191,019 burden hours requested.

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Annual Cost to Federal Government: $0

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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: 03/23/2020

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