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#1668005 - 02/21/12 09:37 PM Report Retention
Doug Hendrickson Offline
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Doug Hendrickson
Joined: Oct 2009
Posts: 3,927
A report is produced weekly of the cash transactions from $3,000 - $10,000, for the previous three weeks. It is used in a review to determine any indications of structuring. If such an indication is found, a SAR is filed and all the appropriate supporting documentation is kept for five years.

Is it necessary to keep each weekly report for those five years?

I generally keep them from exam to exam so as to support the fact that the review is done. They don't seem to serve any meaningful purpose after that time period.
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I hear and I forget. I see and I remember. I do and I understand.--Confucius

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#1668022 - 02/21/12 10:10 PM Re: Report Retention Doug Hendrickson
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
Quote:
...keep them from exam to exam so as to support the fact that the review is done.


Unless you list them as supporting documentation, that should be more than adequate.
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In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

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