Firm: FinCEN 314a Review Steps

Firm: FinCEN 314a Review Steps

FinCEN Dashboard

(Optional) If you prefer to upload the latest Client List, delete previous list


1. Import most recent client list into Client List Report

**Ensure the spreadsheet is saved as CSV
**Names must be in ONE column. Full Name (Individual's full names or entity names)
If using Pershing, see bottom of this article for instructions on creating report of participants



Upload latest list of clients
  1. If you want to keep the imported names in your list, check the KEEP field.
  2. If you want to delete this list after the FinCEN Review is complete, leave the Keep empty

2. Download Business & Persons lists

  2. Download each file as CSV, do NOT download the “Both” file
    Download FinCEN Lists

3. Import each list into FinCEN 314a Review Report



4. Run Names

Select ALL (checkbox) > RUN NAMES button

4b. Run Excess Names

Depending on how many names appear on the FinCEN list, you may need to run an additional batch. It is done in seconds!! (no need to upload or anything)
  1. Press the small arrow next to the report title
  2. Select Excess Names - Need to run
  3. Select all, and RUN (as in step 5)

5. Review any matches

  1. Press the small arrow next to the report title
  2. Select 'FinCEN Partial Matches'
    1. Review
      1. Press the [False Positive] button
        1. This will add the note “Details have been reviewed and it is determined to be a False Positive” to the notes field.
      2. *OR* If you need a different note in the field, do not use the False + button 
        1. Add notes: RT-CLK > EDIT
  3. Select 'FinCEN Matches'
    1. Review
    1. Press the [False Positive] button
      1. This will add the note “Details have been reviewed and it is determined to be a False Positive” to the notes field.
    2. *OR* If you need a different note in the field, do not use the False + button 
      1. Add notes: RT-CLK > EDIT

6. Report any matches to FinCEN

Clicking on this button will take you to FinCEN's website




7. Save Report to File

Occasionally the FinCEN list(s) are SO extensive that the report has trouble saving to PDF (a known issue with Adobe) and you need to save as Excel (XLSX).
**ALWAYS take a moment and open the File exported/saved. Make sure it opens and looks fine before proceeding!!
3 lines top right > EXPORT > PDF

8. Delete FinCEN Names



9. Delete any Client List names (Optional)
Select "Note marked to Keep" in Menu > the SELECT ALL > DELETE



10. Update Compliance Calendar


PERSHING - PARTICIPANT REPORT INSTRUCTIONS

1. Go to Report Builder > All Reports

  1. (Service & Operations > Report Builder > All Reports)

2. Select “Customer Information Scan – Participant Level Results”

  1. Search the KEYWORD field for “Participants”

3. Define Filter: Remove/Add: Office Rang(s) & Status ALL (remember you must run for closed accounts too)


4. Select Report Output: Add/Remove and Reorder Columns

5. Add new Title - Set as Favorite - Auto-Generate (optional) > GENERATE

6. Delete top rows of Excel file

7. COPY Full Name column > PASTE in next tab > Remove duplicates

8. Upload with ONLY this column selected + proper dropdown selected



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