Posted By: hawkfan
MSB - 180 days grace period - 05/07/07 03:41 PM
From what I understand, we should file a SAR on any business that we find out to be an MSB if they are not registered with Fincen. One thing I read from Fincen was that the MSB is required to register with Fincen within 180 days of establishment. What if we have a convenience store (been a customer for awhile) that didn't cash checks over $1,000 in cash until recently? We have spoken to them and they will register soon. Do we file a SAR on them, or are they alright because it hasn't been 180 days since they started doing what makes them a MSB? Thanks.