I know I've read info about this, and I think it may have been Bonnie or KayBee....We have an FDIC examiner on site and currently working on exemptions. While making a comparison to our exemption list vs. the list he obtained from FinCEN, there are about 6 customers that DO NOT show up on FinCEN's list. These 6 customers were all exempted on the same day, i.e. I mailed the DEP forms in one envelop and apparently they weren't received. The examiner and I agree that it's not the bank's responsibilty to confirm receipt of the mailing. However, the question is how do I get the customer into the database without opening a can of worms? Obviously, I can't send an ammended because according to their database there is nothing to ammend. If I file as an initial exemption, then there's the potential for backfiling.

I'm sure someone has had this argument before. I'm asking BOL for advice and he's checking back with his office for how this issue has been addressed before.

Any assistance and guidance would be most appreciated! Thanks!!

I would hope that since you have dated copies of the DEP forms that they would not force you to backfile. We send all of our BSA related forms certified mail with a return receipt requested since we had an issue many years ago with missing CTR's.

If ever there were a recommendation to use e-filing through FinCEN's BSA Direct system, this sort of problem is it. With each e-filing made, the filer receives a confirmation number that can be its assurance that it got where it was going. And you don't have to rely on some underpaid government drudge (all due respect paid) to transition your paper form into the FinCEN database (or the occasional vagaries of the postal system).

I agree 100% about the e-filing and we are working towards accomplishing that for 2005, digcerts, training, etc. That was included in my answer to the examiner when we initially discussed his list vs. my list. However, I need to know how to address the issue of getting the customer INTO FinCEN's database? The way I would like to response is that:

1. The bank filed the forms as required by law, after conducted it's proper due diligence.
2. There is no citation that requires me to ensure the forms were received.
3. These customers are scheduled for renewal DEP forms in March 2006, so that's how to get them into the system.

On a side note, I contacted this examiner months ago with this specific issue, but it was as a SOX 404 control issue, so he knows that the bank attempted this a while back but we could not obtain a list from FinCEN, so the only way for me to find out would be from an exam such as this.

We are having the exit interview at 10:00 today, so I guess we'll just have to see how it plays out. Will keep you posted though! Thanks guys, I appreciate it!!

Pinkie, contact the IRS BSA Compliance Department at 800-800-2877. They can tell you what you need to do.

Can you file batches of DEP forms via the E-Filing system?

Pinkie - please post the answer you get from the IRS. We had the exact situation at my bank about 30 months ago. The Fed required that we get a backfiling determination on each account and it took forever to dig through the paperwork. The fact that we had paper copies and clear documentation of when and how and why we exempted them was irrelevant to the examiner - it wasn't in the FinCEN database and we were, um, hmm.... "hosed" is the nicest way I can put it! The best I could get from this examiner was an agreement that she'd run our exempt accounts through the database for us to make sure we were in agreement on an annual basis. E-Filing is the only safe way to go.

Well, I have good news and bad news. The good news is, during the exit interview the examiner did not include it in comments or violations. I'm sure that's not to say that something may still come of it. The bad news is, I've tried calling the 800 number several times for guidance and cannot get through unless I leave a message. For obvious reasons, I am not leaving a message.

I will continue to try to get ahold of the IRS with the question and if I can get through annonymously, I will bump this post back up with the answer.

FYI - We were examined under the old BSA procedures and in conjunction with a State exam, and this exam was nothing compared to the horror stories I've read about on BOL from others. I'm counting my blessings tonight and sorry I'm not able to give any new or good insight into "The New BSA".

I have had luck speaking with the following people at FinCEN/DCC:

Suzzane Sallan (313) 234-1452 (RE: E-FILING)

AND Barbara Rosenberg (313)234-2353 (Determining how to proceed when my list didn't match the regulator's)

1. I wouldn't be afraid to leave a message on the 800 # to have someone call me back.

2. Has anyone ever tried to get a list of their exemptins from Fincen to check against the bank's list? Would Fincen do it?

I tried to get the list from FinCEN. I was told they only provide the service of confirming what you know you have filed. Not really helpful when the regulator says FinCEN has things that your records don't show. I had much better luck getting my regulator to send me the list and then I sorted it out. If your regulator is bringing up the issue feel free to ask them for a copy. It's really the only way you can sort it out. FinCEN told me that they will not tell you what's in their records that you don't know about. Also they don't give detailed information over the phone. We file electronically and by accident we filed incomplete information. If the regulator didn't provide us with the incomplete information we could not revoke or amend the filing.

We had the same problem at our bank in May of 2004. Six of our exemptions did not show up on our records when the OCC accessed their database. I had to write a letter to the IRS Detroit Computing Center, Compliance Review Group, P.O. Box 32063, Detroit, MI 48232-0063. I also had to send them a check for $20.00 to cover the cost of researching the discrepancies. Of course it was then suggested to us to use PACS going forward. The question for me still remains why this was the first time the exempted accounts were not identified when the initial dates of the exemptions were from 1998 and 1999.