A translating polyaxial bone anchor for anchoring a connecting rod to a spinal vertebra comprises a fastener having a bone engaging portion and a head, the head defining a socket. An insert is captively retained in the socket and configured for swiveling polyaxial movement therein. The insert includes an elongate connecting element defining an axis, the connecting element projecting outwardly from and through the socket. A yoke having at one end a rod receiving channel for receiving a connecting rod is coupled to the fastener by a coupling member. The coupling member couples the yoke to the insert connecting element for joint polyaxial movement relative to the fastener and for translational movement of the yoke in a direction transverse to the axis of the connecting member. A fastening element is supported by the yoke for securing the connecting rod between the fastening element and the coupling member.