Deadline for Transition to BSA Electronic Filing Approaching


The Financial Crimes Enforcement Network (FinCEN) said Magnetic Media filers must transition to BSA Electronic Filing (E-Filing) by Dec. 31.

The Web-based BSA E-Filing system is user-ID and password-protected and does not require storage media such as tapes and disks to submit Bank Secrecy Act (BSA) reports. The system supports the filing of both single and multiple BSA reports and uses the same file format as the Magnetic Media Program. Reporting institutions also will be able to file a wide range of BSA forms faster and obtain a quicker receipt of acknowledgements.

FinCEN is working with the IRS to ensure a smooth transition. Financial institutions may register for BSA E-Filing at any time. Details on registration and an overview of the system are available at http://bsaefiling.fincen.treas.gov. Filers may also contact the BSA E-Filing Help Desk at 1-888-827-2778 (option 6) from 8 a.m. to 6 p.m. ET, Monday through Friday.

SPONSORED REPORT

Scorecard preparation templates and tips

With Workiva, we've created a PowerPoint deck that helps you create your own scorecards -- quick reference reports used across organizations to update stakeholders on the performance of defined deliverables.

100th ANNIVERSARY

Black CPA Centennial, 1921–2021

With 2021 marking the 100th anniversary of the first Black licensed CPA in the United States, a yearlong campaign kicked off to recognize the nation’s Black CPAs and encourage greater progress in diversity, inclusion, and equity in the CPA profession.