WASHINGTON (7/9/12)--The Financial Crimes Enforcement Network's (FinCEN) Bank Secrecy Act (BSA) e-filing system and e-filing telephone help desk are both experiencing extremely high volume, and this volume is creating issues for some users, FinCEN has said.
The high e-filing volume "may result in intermittent delays in a filer's ability to submit required reports or complete the on-line application process for a new BSA E-Filing System account," FinCEN said in a post on its homepage, www.fincen.gov. The high call volume is resulting in extended hold times and, in some cases, busy signals, FinCEN added.
FinCEN said it is aware of both of these issues, and is working to resolve them. In the meantime, e-filing system users that are having issues can reach FinCEN staff at the following addresses:
- For E-File technical questions: BSAEfilinghelp@fincen.gov
- For regulatory inquiries related to form completion or selection:BSA_Resource_Center@fincen.gov
- For form completion or selection issues specific to FBAR: email@example.com
- For law enforcement related matters: firstname.lastname@example.org
- 314 Inquiries from Law Enforcement: email@example.com
- 314 Inquiries from Financial Institutions: firstname.lastname@example.org
- General FinCEN Inquiries: email@example.com
- For any other matters, you can also send your inquiry to firstname.lastname@example.org.
Electronic filing of all BSA reports became mandatory on July 1. Currency Transaction Reports, Designations of Exempt Persons, and Suspicious Activity Reports are among the reports that can be e-filed. Almost all BSA reports now need to be e-filed, but Currency and Monetary Instrument Reports are not covered under the e-filing requirement.
FinCEN has said the switch to all-electronic BSA filing will improve efficiency, reduce costs for the financial industry, and enhance the ability of investigators, analysts, and examiners to gain better and more timely access to important financial information. Increased BSA E-Filing will also help speed up financial crime investigations, the agency added.