Sharing SAR Information with IRS Agent
Question: If someone calls me claiming to be with the IRS Investigative Unit and wants to discuss Suspicious Activity Reports I have filed and they give me the name and amounts and dates of transactions I have filed, should I discuss the information? Our bank attorney says he thinks we should ask the caller to come to the bank with proper ID or a subpoena and then we could discuss the SARs.
Answer: Spoken like a true lawyer. Let's see. Your bank just took a $43,000 loss on a fraud - you filed the SAR - the IRS Special Agent called to ask some questions so he or she can help your bank, and you're going to ask for a personal appearance and a subpoena if you are to supply information. I don't think so!
First of all, if the agent is unknown to you, ask if you can call him/her back in just a few minutes. He/she will give you a phone number and a name. Don't use it until you've looked it up and determined that it really is a government IRS office you're calling. If you want extra assurance, go through the main number and ask the switchboard operator for the agent by name. Now you know you're not dealing with an imposter.
There is no reason you can't now answer his/her questions. Remember, when you file the SAR, although you do not file any of the documentation, it is to be available without subpoena to any qualified member of law enforcement who wants to review it. They already have the copy of the SAR. It's available on their data base. As long as the information given is documentation from the SAR itself, there is no problem talking to the SA. If he/she wants information BEYOND the SAR information, then you either need a subpoena or a letter of certification.
Copyright © 2005 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 15, No. 10, 10/05
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