If we know a customer is storing large amounts of cash in a safe deposit box, should a SAR be completed?

There is no reason to complete a SAR unless you can somehow tie the cash to some illegal activity.

http://www.bankrate.com/brm/news/bank/20011023a.asp

Thanks for that reference link.

However, if you are not comfortable with it, most safe deposit box contracts prohibit storing cash in the box.

Yea, I checked ours and it is not prohibiting cash. It only references things that could hurt those around the safe deposit box location, so that appears to be a non-specific reference to explosive items.

Thanks

...or dead fish.