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Presented by: Gary E. Watkins, Program Analyst – BSA SB/SE Stakeholder Liaison

IRS / BSA Program. Presented by: Gary E. Watkins, Program Analyst – BSA SB/SE Stakeholder Liaison. Service + Enforcement = Compliance. IRS / BSA Program. Identification of MSB’s Education and Outreach Compliance Examinations. Identification of MSB’s. State Provided Information

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Presented by: Gary E. Watkins, Program Analyst – BSA SB/SE Stakeholder Liaison

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  1. IRS / BSA Program • Presented by: • Gary E. Watkins, • Program Analyst – BSA • SB/SE Stakeholder Liaison

  2. Service + Enforcement = Compliance

  3. IRS / BSA Program • Identification of MSB’s • Education and Outreach • Compliance Examinations

  4. Identification of MSB’s • State Provided Information • CBRS Database • Leads from other Federal Agencies • Anecdotal Reports

  5. Education and Outreach • SB/SE Stakeholder Liaison • BSA SL’s located in the six top high risk money laundering areas • Outreach Program designed to reach both registered and unregistered MSB’s through.. • Industry Associations, Practitioner Organizations, State Governments, etc, • FinCEN Projects

  6. Compliance Examinations • Non-Bank Financial Institutions: • Compliance with BSA, Title 31 • Trade or Business: • Compliance with Form 8300, Title 26 (§ 6050I) and Title 31 (§ 5331)

  7. Resources • Questions on filing: • IRS Detroit Computing Center at 1-800-800-2877 • Questions on interpreting BSA regulations: • FinCEN Regulatory Helpline at 1-800-949-2732 • To get forms: • IRS Forms Distribution Center at 1-800-829-3676 • Information: • FinCEN: www.fincen.gov • IRS: www.irs.gov

  8. BSA e-Filing • Free service • More secure than paper or magnetic media • Fast and cost effective • BSA e-Filing Help Desk (1.888.827.2778) http://bsaefiling.fincen.treas.gov

  9. Questions ? Gary E. Watkins Program Analyst, BSA SB/SE Stakeholder Liaison HQ Office: 803.253.3960 E-Mail: Gary.E.Watkins@irs.gov

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