In January of 2018, FinCEN provided an announcement that a new version of the Suspicious Activity Report (SAR) will be modified and available for use in June of 2018. It is our understanding that, on Friday, July 28, 2018 FinCen finally released the new SAR Form (2018).
This revision marks the first update to the SAR form since releasing the electronic-only version (v1.1) of the form a few years back. These SAR changes appear to be substantially similar to the 2017 revisions that were made to the Currency Transaction Report (CTR) as most changes are minor in nature and will not be substantial for most financial institutions. That said, three of the five sections of the original version of the electronic SAR are reported o have been modified, though, again, most changes are not substantial to financial institutions - with the exception on SARs filed for a cyber-event.