This is a first for our bank, so I am coming to you guys for some input. We recently received a US District Court subpoena on a customer for all documents related to any accounts he may have. Now, we have received a seizure warrant from the same court. Of course, we put a hold on the account as directed and will wait further instruction. The warrant mentions that the IRS is the only one who has authority to withdraw funds. Do we need to do anything else at this point? Let any agencies know? Now, the next question is, should we file a SAR? I know that receiving a subpoena does not "trigger" a SAR, but during review of the account we did find activity that could be unusual, but we were on the fence about a SAR. Should the warrant push us over? I know this is a long post, but I am really interested in what you experienced folks think. Thanks in advance.

If, once you review the account, you see suspicious activity, then you should file the SAR.

I don't think you need to do anything further but await further instructions from the IRS.

I am sure others will add to this thread.

We are going to file a SAR. The activity is unusual and there is no reasonable explanation for it. Thanks for your input and Happy Holidays.