Banking compliance workflow for Tallyfy

File SARs that meet FinCEN requirements

SAR filings are legally required within 30 days of detection. This workflow guides you through documentation gathering with the who-what-when-where-why framework, narrative writing, BSA Officer approval, and FinCEN submission with 5-year retention tracking.

4 steps

4 fields

Import into Tallyfy Preview steps

Banking

Run this workflow in Tallyfy

Import this template into Tallyfy and capture detection date, subject name, account numbers, and activity description in the kickoff form when suspicious activity is identified

Configure Tallyfy deadlines so documentation gathering completes by day 5, narrative by day 10, BSA Officer review by day 20, and FinCEN filing by day 30 to meet regulatory requirements

Track the complete SAR lifecycle in Tallyfy including documentation gathered, SAR category, approval status, FinCEN confirmation number, and 5-year retention date for audit purposes

Import this template into Tallyfy

Process steps

Gather supporting documentation

5 days from previous step

task

Collect all evidence related to the suspicious activity. This includes transaction records, account statements, identification documents, notes from staff who observed the activity, and any prior alerts on the subject. Document the who, what, when, where, why, and how: - Who is involved (subjects, accounts, third parties) - What happened (specific transactions or behaviors) - When it occurred (dates, times, frequency) - Where it happened (branch, online, ATM) - Why it's suspicious (what makes it unusual) - How it was conducted (methods, patterns)

Form fields in this step

Documentation Gathered *

Total Dollar Amount Involved *

Complete SAR narrative

10 days from previous step

task

Write a clear, factual narrative describing the suspicious activity. This is the most important part of the SAR. Examiners and law enforcement rely on it. Good narratives: - Tell the complete story in plain language - Include specific dates, amounts, and account numbers - Explain why the activity is suspicious - Reference any relevant patterns or prior SARs - Avoid speculation - stick to facts Per FinCEN guidance, the narrative should enable law enforcement to understand the activity without reviewing attachments.

Form fields in this step

Narrative Complete *

SAR Category *

BSA Officer review and approval

20 days from previous step

approval

The BSA Officer reviews the complete SAR package for accuracy, completeness, and appropriate classification. Verify the narrative clearly explains the suspicious nature of the activity. Review checklist: - All required fields completed - Narrative is clear and comprehensive - Subject information is accurate - Suspicious activity is clearly articulated - Supporting documentation is referenced Return for revision if anything is unclear or incomplete.

Form fields in this step

Review Decision *

Reviewer Notes

File SAR with FinCEN

30 days from previous step

task

Submit the SAR through FinCEN's BSA E-Filing System. You have 30 calendar days from when activity was detected to file (35 days if subject was unknown at detection). Retain a copy of the filed SAR and confirmation for 5 years. Filing reminders: - Keep SAR confidential (31 USC 5318(g)(2)) - Never tip off the subject - Document the filing date and confirmation number - Set retention calendar for 5 years minimum Per 31 CFR 1020.320, maintain SAR confidentiality - disclosure is a federal offense.

Form fields in this step

FinCEN Filing Date *

BSA ID/Confirmation Number *

SAR Retention Date (5 years) *