Do you automatically file a SAR if the individual asks about the reporting limit and then deposits less than $10,000? We recently had an incident where the customer was in a hurry and didn't want to take the extra time needed to complete a CTR, so they deposited less than $10,000. Would that be SAR worthy? In my opinion, it's an isolated incident that is not suspicious....a SAR would only be filed for defensive reasons.

I believe there is specific guidance that require you to file a SAR in this case.

Do you know the citing?

In FinCENS SAR Reveiw Issue 5, page 44, they give your example.

http://www.fincen.gov/sarreviewissue5.pdf

Also, in the IRS addresses this at the following site:
http://www.irs.gov/irm/part4/ch26s17.html

Why not just complete the CTR after the custome leaves (provided you have all the information on file)?

If the customer asked about the rules and then deposited less than $10, even if they said "they were in a hurry", we would file an SAR. Filing a CTR wouldn't resolve the issue that they customer attempted to evade reporting requirements.

Original Anon -

In your post you said "the customer was in a hurry and didn't want to take the extra time needed to complete a CTR." I don't know if you meant this literally. I have never considered it a good idea to allow a customer to complete the form. If the account was opened properly, your bank more than likely had all the information needed to prepare the form after the customer left.

Regarding your question - the bank has a responsibility to file an SAR when a customer inquires about the reporting threshold and then deposits less than $10,000. I know it seems "defensive," but there is no way to get around it now that you have knowledge of the situation. File and be safe!