What is a Suspicious Activity Report and can my bank file one on my LLC without telling me?
I overheard a conversation at my bank where someone mentioned 'SAR' in reference to another customer's account. I own a foreign-owned LLC and now I am paranoid. Can my bank file a Suspicious Activity Report on my LLC without notifying me? What kind of activity would trigger one? I run a legitimate import-export business and sometimes have large wire transfers from overseas. If a SAR is filed, does that mean I am being investigated? How would I even know if one was filed on my account?
Related Questions
My LLC received a $15,000 cash deposit — will the bank file a Currency Transaction Report?
I own a foreign-owned LLC that operates a small retail store in Texas. A customer paid $15,000 in cash for a large order. When I deposited it at my bank, the teller had me fill out some extra paperwor...
What is the FinCEN whistleblower program and should I be worried about former employees reporting my LLC?
I recently had a disagreement with a contractor who worked for my foreign-owned LLC. He threatened to 'report me to FinCEN' for money laundering. My LLC is a legitimate software company and I have nev...
Do I need an AML compliance program for my foreign-owned single-member LLC?
I own a consulting LLC in Wyoming as a Canadian citizen. A friend who works in banking told me I need an 'AML compliance program' for my LLC. I looked this up and it seems like something only banks an...
What specific transaction patterns trigger SAR filings for foreign-owned LLCs?
I am a German citizen running a foreign-owned LLC that provides digital marketing services. My clients are mostly in Europe and pay me through international wire transfers. Some months I get 10 wires ...
What are FinCEN Geographic Targeting Orders and does my LLC's real estate purchase trigger one?
My foreign-owned LLC is buying a commercial property in Miami for $800,000. My real estate attorney mentioned something about a 'Geographic Targeting Order' from FinCEN that applies to certain real es...
Can I use a FinCEN identifier to simplify BOI reporting in 2026?
I'm a beneficial owner of multiple companies that have BOI obligations. Can I use a FinCEN identifier so I don't have to keep entering my personal info for every report?
Who counts as a 'beneficial owner' for BOI reporting — just me or also my spouse and business partners?
I am a South Korean citizen and I co-own a U.S. LLC with my wife (also Korean) and a Canadian business partner. We each own one-third. My wife handles the finances but is not listed on any formation d...
What is the Bank Secrecy Act and how does it affect my foreign-owned LLC?
I recently formed a single-member LLC in Delaware as a non-resident from the UK. My accountant mentioned something about the 'Bank Secrecy Act' and said I need to be aware of it as a foreign owner. I ...
My foreign-owned LLC accepts cryptocurrency payments — what AML rules apply to crypto transactions?
I am a Turkish citizen with a U.S. LLC that sells software licenses. I recently started accepting Bitcoin and USDT payments from international customers because wire transfer fees were eating into my ...
My bank is asking for 'Enhanced Due Diligence' documents — what is EDD and why am I flagged?
I have had a U.S. LLC bank account at a regional bank for about two years. I am from India and my LLC does software development. Last week my bank sent me a letter requesting additional documentation ...
Have a similar question?
ForeignLLCTax members get expert answers with IRS citations. One CPA consultation costs $200+. Full access is $9.99/month.
Become a Member — $9.99/moDisclaimer: All content on ForeignLLCTax.com is created by a tax professional and is provided for general educational and informational purposes only. It does not constitute tax, legal, or accounting advice, and should not be relied upon as such. Every tax situation is different — for advice specific to your circumstances, please consult a licensed CPA, Enrolled Agent, or tax attorney. By using this website, purchasing a subscription, or accessing any tools or services, you acknowledge that no client-professional relationship is established between you and ForeignLLCTax.com or its operators. This website is not affiliated with the IRS.
