In December 2006, the Financial Crimes Enforcement Network (FinCEN) and the federal banking agencies announced that the format for the Suspicious Activity Report by Depository Institutions (SAR-DI) was to be revised. The revisions are the result of their continuing efforts to reduce paperwork and respondent burden. The form was revised and reformatted to standardize suspicious activity reports, enhance the clarity of instructions, allow for joint filing of Suspicious Activity Reports, and to improve the usefulness of the Suspicious Activity Report to law enforcement.
The revised SAR-DI format, which should not be used until June 30, was released to allow depository institutions subject to SAR filing requirements to begin initial planning for the effective implementation date. On June 30, depository institutions will have the option of using either the existing or the revised SAR-DI formats. Use of the revised format for filing will become mandatory December 31. A link to the revised format follows: