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#1982727 - 12/12/14 03:02 PM Aggregate or Not for a CTR??
Waterfall Offline
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Joined: Oct 2006
Posts: 96
PA
A lady comes in with $4,110 in cash, goes to one teller and purchases a cashier's check for her business. Her husband comes in at the same time, goes to a different teller and deposits $6,000 in cash into a joint savings account (for husband and wife.

To aggregate and file CTR or not to aggregate and not file the CTR is the question.

Thanks!

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#1982745 - 12/12/14 03:24 PM Re: Aggregate or Not for a CTR?? Waterfall
John Burnett Offline
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John Burnett
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Cape Cod
Is the business a sole proprietorship? If so, the cashier's check was bought on the wife's behalf. The deposit to the joint savings account was also made on her behalf. The total of the two transactions exceeds $10,000. File a CTR.

If the business is an LLC or corporation, the cashier's check was bought on its behalf, not on behalf of the wife. No CTR.
Last edited by John Burnett; 12/12/14 03:24 PM.
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#1982760 - 12/12/14 03:50 PM Re: Aggregate or Not for a CTR?? Waterfall
Elwood P. Dowd Offline
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Righto, old chap! Their marital status is irrelevant, but the form of organization used by the business is critical.

I'm tired of asking: The "business," partnership, LLC, corporation, sole proprietorship, what?
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#1982847 - 12/12/14 06:25 PM Re: Aggregate or Not for a CTR?? Waterfall
rlcarey Online
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rlcarey
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Galveston, TX
A lady comes in with $4,110 in cash, goes to one teller and purchases a cashier's check for her business.

Not CTR related, but I would be looking very closely at any "business" that purchases cashier's checks with cash for other reasons. Makes for some sloppy bookkeeping, tax evasion, money laundering, etc. smile
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#1982921 - 12/12/14 09:58 PM Re: Aggregate or Not for a CTR?? Waterfall
John Burnett Offline
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John Burnett
Joined: Oct 2000
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Cape Cod
The only businesses I recall dealing with that needed cashier's checks were restaurants that had "stiffed" their suppliers and now had to produce (pun intended) cash or cashier's check to get their deliveries.
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