I'm having a heck of a time thinking this one through and need the help of my esteemed, web-land, cohorts.
I have a phase II exempt person, which is a corporation, (Corp 1). The owners of this corporation, the Smith's, (not the real name), own another corporation called Smith, Inc. The Smith's own another business, which we have listed as Smith, Inc., dba "the other business".
Last week, Mrs. Smith deposited over $10K into her personal money market(We do know the source of the funds and it is not suspicious). She at the same time deposited $3K into Corp 1 and $5K into Smith, Inc.
Are all of the above transactions exempt from CTR reporting? It just doesn't feel right. Should I file a CTR on Mrs. Smith, then not worry about the other two, as the deposits fall under the exemption and don't total >$10K?
Thank you for your support,
Deb