Skip to content
GeoDataVision
Thread Options
#2032444 - 08/07/15 06:47 PM Occupation for wealthy people who don't work
Daisy Doodle Offline
Diamond Poster
Joined: Feb 2014
Posts: 1,030
Southern U.S.
Should we put 'unknown'? That doesn't feel right. What do others do?

Return to Top
BSA/AML/CIP/OFAC Forum
#2032445 - 08/07/15 06:48 PM Re: Occupation for wealthy people who don't work Daisy Doodle
Midwest BSA Offline
Member
Joined: Sep 2014
Posts: 54
Is trust fund baby an option?

Return to Top
#2032462 - 08/07/15 07:37 PM Re: Occupation for wealthy people who don't work Daisy Doodle
BrianC Offline
Power Poster
BrianC
Joined: Nov 2004
Posts: 6,312
Illinois
The SAR instructions I quote below specifically say not to enter "Unknown." If you do not have this information, leave the occupation field blank. (The CTR instructions have a similar requirement.)

11. Prohibited Words and Phrases: Do not use the following words or variations of these words in text fields, other than in Part V:
a. AKA
b. COMPUTER GENERATED
c. CUSTOMER
d. DBA
e. NON CUSTOMER
f. NONE
g. NOT APPLICABLE
h. OTHER
i. SAME
j. SAME AS ABOVE
k. SEE ABOVE
l. SEE NARRATIVE
m. SIGNATURE CARD
n. T/A
o. UNKNOWN
p. VARIOUS
q. XX
_________________________
Sola Gratia, Sola Fides, Sola Scriptura, Solus Christus, Soli Deo Gloria!
www.tcaregs.com

Return to Top
#2032468 - 08/07/15 07:45 PM Re: Occupation for wealthy people who don't work Daisy Doodle
Doug Hendrickson Offline
Power Poster
Doug Hendrickson
Joined: Oct 2009
Posts: 3,927
Independently wealthy? smile
_________________________
I hear and I forget. I see and I remember. I do and I understand.--Confucius

Return to Top
#2032471 - 08/07/15 07:46 PM Re: Occupation for wealthy people who don't work Daisy Doodle
BFrame Offline
Gold Star
BFrame
Joined: Nov 2011
Posts: 401
USA
I think I would say "independently wealthy" as it provides some type of description to the reviewer of the CTR.
_________________________
~

Return to Top
#2032472 - 08/07/15 07:46 PM Re: Occupation for wealthy people who don't work Daisy Doodle
Daisy Doodle Offline
Diamond Poster
Joined: Feb 2014
Posts: 1,030
Southern U.S.
Brian, would you be able to point me to those instructions? I did search the FAQ, and review the pop up guidance for the field, but where is the above passage please?

Return to Top
#2032477 - 08/07/15 07:49 PM Re: Occupation for wealthy people who don't work Daisy Doodle
BrianC Offline
Power Poster
BrianC
Joined: Nov 2004
Posts: 6,312
Illinois
_________________________
Sola Gratia, Sola Fides, Sola Scriptura, Solus Christus, Soli Deo Gloria!
www.tcaregs.com

Return to Top
#2032478 - 08/07/15 07:49 PM Re: Occupation for wealthy people who don't work Daisy Doodle
Daisy Doodle Offline
Diamond Poster
Joined: Feb 2014
Posts: 1,030
Southern U.S.
Never mind, I just spotted it.

http://fincen.gov/forms/files/FinCEN%20S...0doc.pdf#page=2

Thank you.

Return to Top
#2032479 - 08/07/15 07:50 PM Re: Occupation for wealthy people who don't work Daisy Doodle
BrianC Offline
Power Poster
BrianC
Joined: Nov 2004
Posts: 6,312
Illinois
I win by 7 seconds. smile
_________________________
Sola Gratia, Sola Fides, Sola Scriptura, Solus Christus, Soli Deo Gloria!
www.tcaregs.com

Return to Top
#2032480 - 08/07/15 07:50 PM Re: Occupation for wealthy people who don't work Daisy Doodle
Daisy Doodle Offline
Diamond Poster
Joined: Feb 2014
Posts: 1,030
Southern U.S.
Thank you Brian! I think I first thought those were more technical in nature for instructions.

Return to Top
#2032481 - 08/07/15 07:53 PM Re: Occupation for wealthy people who don't work Daisy Doodle
BrianC Offline
Power Poster
BrianC
Joined: Nov 2004
Posts: 6,312
Illinois
You are correct, Daisy that they have all the technical specs for batch filing, but they also have helpful information for what should go in each field. When Ken Golliher teaches SAR narrative completion, he recommends that you take the SAR Instructions and put "Part V" in the find option as Part V appears some 90+ times in the document. There is good information about all of the data FinCEN expects to see in a narrative.
_________________________
Sola Gratia, Sola Fides, Sola Scriptura, Solus Christus, Soli Deo Gloria!
www.tcaregs.com

Return to Top
#2032482 - 08/07/15 07:55 PM Re: Occupation for wealthy people who don't work Daisy Doodle
Daisy Doodle Offline
Diamond Poster
Joined: Feb 2014
Posts: 1,030
Southern U.S.
Good to know. I will peruse!

Return to Top
#2032497 - 08/07/15 08:11 PM Re: Occupation for wealthy people who don't work Daisy Doodle
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
If accurate, "never employed" (without the quotes) is clear enough. If they ever worked, use the work they used to do.
_________________________
In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

Return to Top
#2032500 - 08/07/15 08:14 PM Re: Occupation for wealthy people who don't work Elwood P. Dowd
BrianC Offline
Power Poster
BrianC
Joined: Nov 2004
Posts: 6,312
Illinois
Quote:
If they ever never worked, use that.


Fixed. smile
_________________________
Sola Gratia, Sola Fides, Sola Scriptura, Solus Christus, Soli Deo Gloria!
www.tcaregs.com

Return to Top

Moderator:  Andy_Z