source:
  type: regulation
  id: bsa-31cfr-1029.320
  authority: 31 CFR §1029.320 — Reports by loan or finance companies of suspicious transactions
  description: 'FinCEN SAR rule for loan or finance companies (including non-bank

    residential mortgage lenders/originators). Sets the $5,000 threshold,

    the four-prong knowledge/suspicion test, the 30/60-day filing window,

    the 5-year retention rule, and the SAR confidentiality regime.

    '
obligations:
- id: bsa-31cfr-1029.320-a
  canonical_id: bsa-31cfr-1029.320-a
  section: 31 CFR §1029.320(a)
  description: '(a): (a) General. (1) Every loan or finance company shall file with FinCEN, to the extent
    and in the manner required by this section, a report of any suspicious transaction relevant to a possible
    violation of law or regulation. A loan or finance company may also file with FinCEN a report of any
    suspiciou…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1029.320(a)(1)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1029.320
    snapshot_id: 6adf7a3132ed3892
    fetched_at: '2026-05-22T11:34:27Z'
    content_hash: sha256:20078505fc90aae7fee26e07e2d574dfac690d14f5fac67ab2e51b6577765f3b
    paragraph_quote: '(a) General. (1) Every loan or finance company shall file with FinCEN, to the extent
      and in the manner required by this section, a report of any suspicious transaction relevant to a
      possible violation of law or regulation. A loan or finance company may also file with FinCEN a report
      of any suspicious transaction that it believes is relevant to the possible violation of any law
      or regulation, but whose reporting is not required by this section. (2) A transaction requires reporting
      under this section if it is conducted or attempted by, at, or through a loan or finance company,
      it involves or aggregates funds or other assets of at least $5,000, and the loan or finance company
      knows, suspects, or has reason to suspect that the transaction (or a pattern of transactions of
      which the transaction is a part):'
    drafter_attestation: Verbatim subsection of 31 CFR §1029.320 from Cornell LII snapshot 6adf7a3132ed3892;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1029.320-i
  canonical_id: bsa-31cfr-1029.320-i
  section: 31 CFR §1029.320(i)
  description: '(i): (i) Involves funds derived from illegal activity or is intended or conducted in order
    to hide or disguise funds or assets derived from illegal activity (including, without limitation,
    the ownership, nature, source, location, or control of such funds or assets) as part of a plan to
    violate or evade a…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1029.320(a)(1)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1029.320
    snapshot_id: 6adf7a3132ed3892
    fetched_at: '2026-05-22T11:34:27Z'
    content_hash: sha256:20078505fc90aae7fee26e07e2d574dfac690d14f5fac67ab2e51b6577765f3b
    paragraph_quote: (i) Involves funds derived from illegal activity or is intended or conducted in order
      to hide or disguise funds or assets derived from illegal activity (including, without limitation,
      the ownership, nature, source, location, or control of such funds or assets) as part of a plan to
      violate or evade any Federal law or regulation or to avoid any transaction reporting requirement
      under Federal law or regulation; (ii) Is designed, whether through structuring or other means, to
      evade any requirements of this part or any other regulations promulgated under the Bank Secrecy
      Act , Public Law 91-508 , as amended, codified at 12 U.S.C. 1829b , 12 U.S.C. 1951 - 1959 , and
      31 U.S.C. 5311 - 5314 , 5316 - 5332 ; (iii) Has no business or apparent lawful purpose or is not
      the sort in which the particular customer would normally be expected to engage, and the loan or
      finance company knows of no reasonable explanation for the transaction after examining the available
      facts, including the background and possible purpose of the transaction; or (iv) Involves use of
      the loan or finance company to facilitate criminal activity. (3) More than one loan or finance company
      may have an obligation to report the same transaction under this section, and other financial institutions
      may have separate obligations to report suspicious activity with respect to the same transaction
      pursuant to other provisions of this part. In those instances, no more than one report is required
      to be filed by the loan or finance company(s) and other financial institution(s) involved in the
      transaction, provided that the report filed contains all relevant facts, including the name of each
      financial institution involved in the transaction, the report complies with all instructions applicable
      to joint filings, and each institution maintains a copy of the report filed, along with any supporting
      documentation.
    drafter_attestation: Verbatim subsection of 31 CFR §1029.320 from Cornell LII snapshot 6adf7a3132ed3892;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1029.320-b
  canonical_id: bsa-31cfr-1029.320-b
  section: 31 CFR §1029.320(b)
  description: '(b): (b) Filing and notification procedures —(1) What to file. A suspicious transaction
    shall be reported by completing a Suspicious Activity Report (“SAR”), and collecting and maintaining
    supporting documentation as required by paragraph (c) of this section. (2) Where to file. The SAR
    shall be filed wit…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1029.320(a)(1)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1029.320
    snapshot_id: 6adf7a3132ed3892
    fetched_at: '2026-05-22T11:34:27Z'
    content_hash: sha256:20078505fc90aae7fee26e07e2d574dfac690d14f5fac67ab2e51b6577765f3b
    paragraph_quote: (b) Filing and notification procedures —(1) What to file. A suspicious transaction
      shall be reported by completing a Suspicious Activity Report (“SAR”), and collecting and maintaining
      supporting documentation as required by paragraph (c) of this section. (2) Where to file. The SAR
      shall be filed with FinCEN in accordance with the instructions to the SAR. (3) When to file. A SAR
      shall be filed no later than 30 calendar days after the date of the initial detection by the reporting
      loan or finance company of facts that may constitute a basis for filing a SAR under this section.
      If no suspect is identified on the date of such initial detection, a loan or finance company may
      delay filing a SAR for an additional 30 calendar days to identify a suspect, but in no case shall
      reporting be delayed more than 60 calendar days after the date of such initial detection. (4) Mandatory
      notification to law enforcement. In situations involving violations that require immediate attention,
      such as suspected terrorist financing or ongoing money laundering schemes, a loan or finance company
      shall immediately notify by telephone an appropriate law enforcement authority in addition to filing
      timely a SAR. (5) Voluntary notification to FinCEN. Any loan or finance company wishing voluntarily
      to report suspicious transactions that may relate to terrorist activity may call the FinCEN's Financial
      Institutions Hotline at 1-866-556-3974 in addition to filing timely a SAR if required by this section.
    drafter_attestation: Verbatim subsection of 31 CFR §1029.320 from Cornell LII snapshot 6adf7a3132ed3892;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1029.320-c
  canonical_id: bsa-31cfr-1029.320-c
  section: 31 CFR §1029.320(c)
  description: '(c): (c) Retention of records. A loan or finance company shall maintain a copy of any
    SAR filed by the loan or finance company or on its behalf (including joint reports), and the original
    (or business record equivalent) of any supporting documentation concerning any SAR that it files (or
    is filed on its …'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1029.320(a)(1)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1029.320
    snapshot_id: 6adf7a3132ed3892
    fetched_at: '2026-05-22T11:34:27Z'
    content_hash: sha256:20078505fc90aae7fee26e07e2d574dfac690d14f5fac67ab2e51b6577765f3b
    paragraph_quote: (c) Retention of records. A loan or finance company shall maintain a copy of any
      SAR filed by the loan or finance company or on its behalf (including joint reports), and the original
      (or business record equivalent) of any supporting documentation concerning any SAR that it files
      (or is filed on its behalf), for a period of five years from the date of filing the SAR. Supporting
      documentation shall be identified as such and maintained by the loan or finance company, and shall
      be deemed to have been filed with the SAR. The loan or finance company shall make all supporting
      documentation available to FinCEN, or any Federal, State, or local law enforcement agency, or any
      Federal regulatory authority that examines the loan or finance company for compliance with the Bank
      Secrecy Act , or any State regulatory authority administering a State law that requires the loan
      or finance company to comply with the Bank Secrecy Act or otherwise authorizes the State authority
      to ensure that the loan or finance company complies with the Bank Secrecy Act , upon request.
    drafter_attestation: Verbatim subsection of 31 CFR §1029.320 from Cornell LII snapshot 6adf7a3132ed3892;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1029.320-d
  canonical_id: bsa-31cfr-1029.320-d
  section: 31 CFR §1029.320(d)
  description: '(d): (d) Confidentiality of SARs. A SAR, and any information that would reveal the existence
    of a SAR, are confidential and shall not be disclosed except as authorized in this paragraph (d).
    For purposes of this paragraph (d) only, a SAR shall include any suspicious activity report filed
    with FinCEN purs…'
  type: dont
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1029.320(a)(1)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1029.320
    snapshot_id: 6adf7a3132ed3892
    fetched_at: '2026-05-22T11:34:27Z'
    content_hash: sha256:20078505fc90aae7fee26e07e2d574dfac690d14f5fac67ab2e51b6577765f3b
    paragraph_quote: '(d) Confidentiality of SARs. A SAR, and any information that would reveal the existence
      of a SAR, are confidential and shall not be disclosed except as authorized in this paragraph (d).
      For purposes of this paragraph (d) only, a SAR shall include any suspicious activity report filed
      with FinCEN pursuant to any regulation in this part. (1) Prohibition on disclosures by loan or finance
      companies —(i) General rule. No loan or finance company, and no director, officer, employee, or
      agent of any loan or finance company, shall disclose a SAR or any information that would reveal
      the existence of a SAR. Any loan or finance company, and any director, officer, employee, or agent
      of any loan or finance company that is subpoenaed or otherwise requested to disclose a SAR or any
      information that would reveal the existence of a SAR, shall decline to produce the SAR or such information,
      citing this section and 31 U.S.C. 5318(g)(2)(A)(i) , and shall notify FinCEN of any such request
      and the response thereto. (ii) Rules of construction. Provided that no person involved in any reported
      suspicious transaction is notified that the transaction has been reported, paragraph (d)(1) of this
      section shall not be construed as prohibiting: (A) The disclosure by a loan or finance company,
      or any director, officer, employee, or agent of a loan or finance company of: (1) A SAR, or any
      information that would reveal the existence of a SAR, to FinCEN or any Federal, State, or local
      law enforcement agency, any Federal regulatory authority that examines the loan or finance company
      for compliance with the Bank Secrecy Act , or any State regulatory authority administering a State
      law that requires the loan or finance company to comply with the Bank Secrecy Act or otherwise authorizes
      the State authority to ensure that the loan or finance company complies with the Bank Secrecy Act
      ; or (2) The underlying facts, transactions, and documents upon which a SAR is based, including,
      but not limited to, disclosures to another financial institution, or any director, officer, employee,
      or agent of a financial institution, for the preparation of a joint SAR. (B) The sharing by a loan
      or finance company, or any director, officer, employee, or agent of the loan or finance company,
      of a SAR, or any information that would reveal the existence of a SAR, within the loan or finance
      company''s corporate organizational structure for purposes consistent with Title II of the Bank
      Secrecy Act as determined by regulation or in guidance. (2) Prohibition on disclosures by government
      authorities. A Federal, state, local, territorial, or tribal government authority, or any director,
      officer, employee, or agent of any of the foregoing, shall not disclose a SAR, or any information
      that would reveal the existence of a SAR, except as necessary to fulfill official duties consistent
      with Title II of the Bank Secrecy Act . For purposes of this section, official duties shall not
      include the disclosure of a SAR, or any information that would reveal the existence of a SAR, in
      response to a request for disclosure of non-public information or a request for use in a private
      legal proceeding, including a request pursuant to 31 CFR 1.11 .'
    drafter_attestation: Verbatim subsection of 31 CFR §1029.320 from Cornell LII snapshot 6adf7a3132ed3892;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1029.320-e
  canonical_id: bsa-31cfr-1029.320-e
  section: 31 CFR §1029.320(e)
  description: '(e): (e) Limitation on liability. A loan or finance company, and any director, officer,
    employee, or agent of any loan or finance company, that makes a voluntary disclosure of any possible
    violation of law or regulation to a government agency or makes a disclosure pursuant to this section
    or any other au…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1029.320(a)(1)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1029.320
    snapshot_id: 6adf7a3132ed3892
    fetched_at: '2026-05-22T11:34:27Z'
    content_hash: sha256:20078505fc90aae7fee26e07e2d574dfac690d14f5fac67ab2e51b6577765f3b
    paragraph_quote: (e) Limitation on liability. A loan or finance company, and any director, officer,
      employee, or agent of any loan or finance company, that makes a voluntary disclosure of any possible
      violation of law or regulation to a government agency or makes a disclosure pursuant to this section
      or any other authority, including a disclosure made jointly with another institution, shall be protected
      from liability for any such disclosure, or for failure to provide notice of such disclosure to any
      person identified in the disclosure, or both, to the full extent provided by 31 U.S.C. 5318(g)(3)
      .
    drafter_attestation: Verbatim subsection of 31 CFR §1029.320 from Cornell LII snapshot 6adf7a3132ed3892;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1029.320-f
  canonical_id: bsa-31cfr-1029.320-f
  section: 31 CFR §1029.320(f)
  description: '(f): (f) Compliance. Loan or finance companies shall be examined by FinCEN or its delegates
    under the terms of the Bank Secrecy Act , for compliance with this section. Failure to satisfy the
    requirements of this section may be a violation of the Bank Secrecy Act and of this part.'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1029.320(a)(1)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1029.320
    snapshot_id: 6adf7a3132ed3892
    fetched_at: '2026-05-22T11:34:27Z'
    content_hash: sha256:20078505fc90aae7fee26e07e2d574dfac690d14f5fac67ab2e51b6577765f3b
    paragraph_quote: (f) Compliance. Loan or finance companies shall be examined by FinCEN or its delegates
      under the terms of the Bank Secrecy Act , for compliance with this section. Failure to satisfy the
      requirements of this section may be a violation of the Bank Secrecy Act and of this part.
    drafter_attestation: Verbatim subsection of 31 CFR §1029.320 from Cornell LII snapshot 6adf7a3132ed3892;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: bsa-31cfr-1029.320-g
  canonical_id: bsa-31cfr-1029.320-g
  section: 31 CFR §1029.320(g)
  description: '(g): (g) Compliance date. This section applies to transactions initiated after an anti-money
    laundering program required by section 1029.210 of this part is required to be implemented. Bank Secrecy
    Act CFR Toolbox Law about... Articles from Wex Table of Popular Names Parallel Table of Authorities
    Accessi…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 31 CFR §1029.320(a)(1)
    source_class: fincen
    source_url: https://www.law.cornell.edu/cfr/text/31/1029.320
    snapshot_id: 6adf7a3132ed3892
    fetched_at: '2026-05-22T11:34:27Z'
    content_hash: sha256:20078505fc90aae7fee26e07e2d574dfac690d14f5fac67ab2e51b6577765f3b
    paragraph_quote: (g) Compliance date. This section applies to transactions initiated after an anti-money
      laundering program required by section 1029.210 of this part is required to be implemented. Bank
      Secrecy Act CFR Toolbox Law about... Articles from Wex Table of Popular Names Parallel Table of
      Authorities Accessibility About LII Contact us Advertise here Help Terms of use Privacy
    drafter_attestation: Verbatim subsection of 31 CFR §1029.320 from Cornell LII snapshot 6adf7a3132ed3892;
      body isolated between nav and notes; substring-verified.
  judgment: false
