Skip to content
BOL Conferences
Thread Options
#1451830 - 10/05/10 05:17 PM CTR on deposit made by biz owner
Oviedo Boy Offline
Platinum Poster
Joined: May 2006
Posts: 629
Tennessee
Owner of ABC, LLC comes in to bank and makes $20k cash deposit into business account, the biz name goes in Section A, owner's name goes in Section B...is box (e) in Sect B checked as well (Conducted on on Behalf)?
_________________________
Maybe all one can do is hope to end up with the right regrets.

Return to Top
BSA/AML/CIP/OFAC Forum
#1451837 - 10/05/10 05:29 PM Re: CTR on deposit made by biz owner Oviedo Boy
AuditorK Offline
Platinum Poster
Joined: Feb 2003
Posts: 962
PA
I would not.

Return to Top
#1451839 - 10/05/10 05:31 PM Re: CTR on deposit made by biz owner AuditorK
ComplianceGurl, CRCM Offline
Platinum Poster
Joined: Jul 2007
Posts: 500
Agree.

Return to Top
#1451840 - 10/05/10 05:31 PM Re: CTR on deposit made by biz owner AuditorK
Oviedo Boy Offline
Platinum Poster
Joined: May 2006
Posts: 629
Tennessee
And when would it be appropriate to check that particular box?
_________________________
Maybe all one can do is hope to end up with the right regrets.

Return to Top
#1451867 - 10/05/10 05:55 PM Re: CTR on deposit made by biz owner Oviedo Boy
ComplianceGurl, CRCM Offline
Platinum Poster
Joined: Jul 2007
Posts: 500
One example would be in the case of a dba.

Return to Top
#1451876 - 10/05/10 06:04 PM Re: CTR on deposit made by biz owner ComplianceGurl, CRCM
Skittles Online
10K Club
Skittles
Joined: Sep 2002
Posts: 13,965
TN
Or if I make a deposit into my own account as an individual.
_________________________
My Opinions Only

Return to Top
#1452154 - 10/06/10 01:44 PM Re: CTR on deposit made by biz owner Skittles
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
But if an entity is the only person listed in Section A, it clearly can never complete a transaction on its own behalf.
_________________________
John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

Return to Top
#1452258 - 10/06/10 03:06 PM Re: CTR on deposit made by biz owner John Burnett
ACBbank Offline
Power Poster
ACBbank
Joined: Jul 2006
Posts: 4,348
New York City
Originally Posted By: John Burnett
But if an entity is the only person listed in Section A, it clearly can never complete a transaction on its own behalf.


Yup.
_________________________
"100 victories in 100 battles isnt the most skillful. Subduing the other's military w/o battle is the most skillful." Sun-Tzu

Return to Top

Moderator:  Andy_Z