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#1230988 - 08/11/09 05:52 PM CTR
newnd Offline
New Poster
Joined: Aug 2008
Posts: 21
I just started doing CTR's and I am hoping you can guide me with this situation. We had a customer come in and bring in cash in the amount of $18,000.00 to pay off a loan. The payoff was $17,956.00. The teller made a cash in for the $18,000.00 and an out for the difference of the payoff. What amount do I actually put on line 26?

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#1231007 - 08/11/09 06:07 PM Re: CTR newnd
Kelsey D Offline
Platinum Poster
Joined: Aug 2006
Posts: 516
Ohio
$18,000 - that's the amount that went across the teller window.
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Don't make me say, "I told you so!" Sincerely, your friendly Compliance Officer.

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#1231448 - 08/12/09 02:54 PM Re: CTR Kelsey D
Georgia Plum
Unregistered

I'm sorry, I disagree. I would report $17,956. That's what was paid in cash to the loan. I wouldn't report $18,000 just because he didn't have exact change.

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#1231467 - 08/12/09 03:29 PM Re: CTR
Kelsey D Offline
Platinum Poster
Joined: Aug 2006
Posts: 516
Ohio
_________________________
Don't make me say, "I told you so!" Sincerely, your friendly Compliance Officer.

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#1231621 - 08/12/09 05:51 PM Re: CTR newnd
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
The correct amount is $18,000, the amount that crossed the teller window. Although it undermines the value of the CTR as a tracer document, the other figure would be the result of offsetting a cash in against a cash out; i.e. that's the net amount. The transaction amount was $18,000. A call to the FinCEN Helpline will verify the answer.
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In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

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#1231658 - 08/12/09 06:39 PM Re: CTR Elwood P. Dowd
David Dickinson Offline
10K Club
David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
I agree with Ken. You never NET in's and out's.
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David Dickinson
http://www.bankerscompliance.com

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#1231730 - 08/12/09 07:47 PM Re: CTR David Dickinson
Al Miller Offline
Diamond Poster
Al Miller
Joined: Oct 2000
Posts: 2,416
Pleasanton CA USA
What would you do if the customer first requested you break a $100 bill and picked up $44 and then put down $17,900? confused

Al
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Al Miller, CRCM
Opinions expressed are my own and not necessarily shared by my employer.

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#1231866 - 08/12/09 10:12 PM Re: CTR Al Miller
John Burnett Online
10K Club
John Burnett
Joined: Oct 2000
Posts: 39,688
Cape Cod
If I were being extremely thorough, I'd call it a $100 currency exchange.
_________________________
John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

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