Suspicious Activity Report (SAR) by Depository Institutions

Forms and Documents

Document Name	Status
FINAL_3133-0094_NPRM_Supporting Statement_020321MM.docx Supporting Statement A	2021-02-03

IC Document Collections

IC ID	Document Title	Status
44190	Suspicious Activity Report	Modified

ICR Details

OMB Control No: 3133-0094	ICR Reference No: 202009-3133-002
Status: Received in OIRA	Previous ICR Reference No: 202001-3133-003
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	Date Submitted to OIRA: 02/03/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved	05/31/2023
Responses	191,069	191,019
Time Burden (Hours)	191,119	191,019
Cost Burden (Dollars)	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:
3133-AF25	Proposed rulemaking	86 FR 6586	01/22/2021

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Federal Register Notices & Comments

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 Request	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	191,069	191,019	0	50	0	0
Annual Time Burden (Hours)	191,119	191,019	0	100	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: Changing Regulations

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

Burden Reduction Due to:

Short Statement: This proposed rule adds a provision to §748.1(c) that would allow FICUs to submit a written request to NCUA if it wishes to seek an exemption from the requirements of this section. There are 2,932 FICUs that currently file SARs annually. It is estimated that 50 of these FICUs would file for an exemption under the proposed new §748.1(c)(7); taking 2 hours per response, for a program change of an additional 100 burden hours. Total burden hours requests is 191,119.

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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? No

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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: 02/03/2021

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