I know for reportable cash deposits into a trust account we are to list the trust and any trustees. For reportable cash withdrawals from a trust, if there are multiple trustees that are each grantors, do I just list the trust and the one trustee that made the withdrawal (like on a joint account)? Or do I still need to list both trustees?

What happened exactly; i.e. did a trustee make a check payable to himself and cash it? There are no cash withdrawals from a trust in the absence of a check.

The one trustee closed a CD and requested it be disbursed in cash. The teller did not issue a check, but rather had the trustee sign a withdrawal slip to complete it as a cash withdrawal.

That was a mistake. The proceeds from the time deposit should have been deposited to the trust's checking account and then the trustee could have distributed the funds by check, thus leaving a clear paper trail which any fiduciary is required to do. Alternatively, they could have been distributed by an official check payable to the trust.

I suggest you talk to your security officer and get the trustee back in for a "do over" now. How you complete the CTR is insignificant compared to the fact that your bank allowed the potential breach of trust.

Thank you for the advice. I will proceed that way.

Afterthought: If this is a grantor trust where the grantor is also the trustee my level of concern would drop. The only other party who might express displeasure is another grantor/trustee, probably the spouse, which remains a possibility.

And in that scenario, the fact of the trust is a red herring: if it had been an unvarnished joint account, the spouse would have been equally as miffed.

Most grantor trusts are established between a husband and a wife with the express condition that either can revoke it during lifetime, but neither can revoke it after the death of the other. Allowing one grantor to "withdraw" money without writing a check would be allowing a revocation in part without notice to the other grantor.

I've sat through a number of H & W negotiations, particularly when both had children from a prior marriage, when a move by one to take money out of the trust without the knowledge of the other would have resulted in bloodshed.