Rounding Numbers on CTR Report
Question: When we're filling out the Currency Transaction Form (104) is it OK to round out the amounts involved? One person in our office says it should be to the penny - though most of us think the numbers should be rounded.
Answer: Not only are you permitted to round out the amounts, you are instructed to do so. The only stipulation is that you only round UP. On page 4 of the CTR you'll find, under Items 26 and 27 Total Cash In/Total Cash Out. In the spaces provided, enter the total amount of currency received (Total Cash In) or total currency disbursed (Total Cash Out) by the financial institution…
If less than a full dollar amount is involved, increase that figure to the next highest dollar. For example, if the currency totals $20,000.05, show the total as $20,001.00.
Copyright © 2005 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 15, No. 10, 10/05
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