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#1955126 - 08/20/14 03:06 PM business transactor also cashing payroll check
Beachbum, CRCM Offline
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Joined: Dec 2006
Posts: 499
Knee Deep in Regs
I am confusing myself and need clarification please.

Business ABC orders a currency delivery of 10,000.00
same day the bookkeeper comes into the branch and cashes 2 petty cash checks totaling 3,000.00 (for their 2nd location) and also cashes his payroll check of 1000.00
I know a CTR is needed for the Business but should I include the payroll check in the CTR?

I am sure this is a basic question, but I cannot make it clear in my mind. thank you
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#1955130 - 08/20/14 03:11 PM Re: business transactor also cashing payroll check Beachbum, CRCM
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
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If I understand correctly, the 10K cash delivery and the two checks to petty cash were credits to cash on behalf of the business (which I am assuming is an entity) and are subject to aggregation.

The 1K payroll check was cashed on behalf of the payee, not the business, and it is not subject to aggregation.
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#1955144 - 08/20/14 03:23 PM Re: business transactor also cashing payroll check Beachbum, CRCM
Beachbum, CRCM Offline
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Joined: Dec 2006
Posts: 499
Knee Deep in Regs
yes, you understand correctly.
So I would not include the payroll check in the CTR.
thank you.
_________________________
What we think, we become.
Buddha

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#1955433 - 08/20/14 07:53 PM Re: business transactor also cashing payroll check Beachbum, CRCM
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Who is the individual conducting the $10,000 currency delivery for the business?
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