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One Depositor, Two Different Corp Accounts, CTR?
Answer by David Dickinson, BOL Guru
Guru BIOS
Question: Person A and Person B are joint owners of Inc. #1 and Inc. #2. The two Incs have different names and different tax id's. Both Incs are convenience stores. Person B goes to the branch nearest Inc. #1 and deposits $4,000 cash. Person B then goes to the branch nearest Inc. #2 and deposits $8,000 cash. Person B made both cash deposits and the cash was more than $10,000. Should a CTR be filed?
Answer: The same Conductor (person B) deposited >$10,000 in cash at your bank in one business day. A CTR must be filed on this Conductor.
First published on BankersOnline.com 10/03/05
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