IBA Compliance Connection

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We believe a new customer may be involved in a fraud due to suspicious wire transactions, so we froze their account and placed an incoming wire on hold. We are working with an out-of-state bank that has requested a subpoena or 314(b) notice before it shares information with us, and our BSA officer is out tending to a family emergency. No one else at our bank has a login for FinCEN’s online 314(b) notice, and it will take five business days to obtain a new login. Is there any other way to access FinCEN’s 314(b) notice?

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Yes, a fillable PDF copy of FinCEN’s 314(b) notice is linked in the resources below.

FinCEN’s regulations provide that financial institutions sharing information pursuant to Section 314(b) of the USA PATRIOT Act may submit the necessary notice to FinCEN through its website or “if a financial institution does not have Internet access, by mail to: FinCEN, P.O. Box 39, Vienna, VA 22183.”

Since you are unable to complete a 314(b) notice on FinCEN’s website, we believe you may complete the PDF notice and mail it to FinCEN.

For resources related to our guidance, please see:

(i) In general. A financial institution or association of financial institutions that shares information pursuant to paragraph (b) of this section shall be protected from liability for such sharing, or for any failure to provide notice of such sharing, to an individual, entity, or organization that is identified in such sharing, to the full extent provided in subsection 314(b) of Public Law 107–56.

(ii) Limitation. Paragraph (b)(5)(i) of this section shall not apply to a financial institution or association of financial institutions to the extent such institution or association fails to comply with paragraphs (b)(2), (b)(3), or (b)(4) of this section.”)

  • FinCEN Regulations, 31 CFR 1010.540.(b)(2) (“A financial institution or association of financial institutions that intends to share information as described in paragraph (b)(1) of this section shall submit to FinCEN a notice described on FinCEN's Internet Web site, http://www.fincen.gov. Each notice provided pursuant to this paragraph (b)(2) shall be effective for the one year period beginning on the date of the notice. In order to continue to engage in the sharing of information after the end of the one year period, a financial institution or association of financial institutions must submit a new notice. Completed notices may be submitted to FinCEN by accessing FinCEN's Internet Web site, http://www.fincen.gov., and entering the appropriate information as directed, or, if a financial institution does not have Internet access, by mail to: FinCEN, P.O. Box 39, Vienna, VA 22183.”)