Thread Options
#2056409 - 12/31/15 06:51 PM SAR - Levy Info.
newbie4soul Offline
100 Club
Joined: Jan 2012
Posts: 106
I am filing a SAR on a customer and the Bank had just received tax compliance levy notice on the customer's account. Should i disclose this information in the SAR narrative? I know I am not supposed to disclose any Grand Jury Subpoena info. but is it okay to include the levy information in the SAR narrative?

Return to Top
BSA/AML/CIP/OFAC Forum
#2056415 - 12/31/15 07:04 PM Re: SAR - Levy Info. newbie4soul
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
You are prohibited from disclosing:
* a grand jury subpoena or
* a national security letter.

As your instincts suggest, a levy is confidential, but there isn't anything that says you cannot disclose it in a SAR. It might be very helpful to law enforcement; e.g. IRS CID if you do so.
_________________________
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
#2056430 - 12/31/15 07:44 PM Re: SAR - Levy Info. Elwood P. Dowd
newbie4soul Offline
100 Club
Joined: Jan 2012
Posts: 106
It was just odd that the customer conducted suspicious cash activities at the same time when the Bank just received the levy notice. Just wanted to make sure there is no prohibition on disclosing levy info. and now I know it's okay to do so.
Thank you.

Return to Top

Moderator:  Andy_Z