On July 17th, the Financial Crimes Enforcement Network ("FinCEN") acknowledged difficulties financial institutions may have recently experience when e-filing required reports. A combination of increased volume of new registrations and the normal volume of e-filing, as well as difficulties caused by extensive east coast power outages resulted in delays, failed login sessions and, in a few cases, mistaken rejections of properly filed reports. The BSA E-Filing System is functioning properly now and has completed the processing of backlog data. When e-filing difficulties arise, financial institutions should contact FinCEN's Regulatory Helpline at 1-800-949-2732 to make FinCEN aware of the compliance concerns and to determine the best option to ensure the required information is submitted in the most expedient manner. FinCEN Notice.
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BSA E-Filing notice
- Winston & Strawn LLP
- July 23 2012
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Senior Patent Counsel
Royal DSM NV