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And, the bad news about the SAR is this: the bank is under no obligation to inform you that it has filed a SAR with the U.S. Treasury. And that can't be a good thing.

So, what if you decide not to provide the information requested or if your identity can't be verified? Well, the mattress starts to look better and better. According to the NASD, your firm may not be able to open an account or carry out transactions for you. What's worse, if your firm has already opened an account for you, they may have to close it.