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#1523937 - 03/18/11 04:58 PM Giving CTR to Customer
ND123 Offline
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Joined: Nov 2010
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A conductor of a transaction in cash over $10,000 for the business she works for has requested a copy of the CTR filed. Can someone please point me to a spot in the Reg that clarifies if we are or are not required to provide this?

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#1523949 - 03/18/11 05:04 PM Re: Giving CTR to Customer ND123
John Burnett Offline
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John Burnett
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Cape Cod
There is nothing in the regulation one way or the other on this question. The CTR is not a protected document in the sense that a SAR is. The conductor may be concerned that he or she will be accountable for the transaction (read: taxed), although being listed in Section B should never have that result.

If the request is made at the time you complete the CTR, I see no reason not to accommodate it. If it's made after the CTR was filed, I'd impose your standard bank records research fee for finding it and making the copy.
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#1523966 - 03/18/11 05:23 PM Re: Giving CTR to Customer ND123
BSABecky Offline
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Posts: 126
Seymour, IN USA
I believe that all reports mandated by BSA are exempt from disclosure under the Freedom of Information Act; I have it in some training notes but I don't have a reference at the moment. I'm trying to find it now.

I also just realized you said the transactor was an employee of the business (beneficiary); that sends a red flag up for me unless she is the owner of the business. She isn't necessarily privvy to the EIN of the business otherwise.
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#1523989 - 03/18/11 05:43 PM Re: Giving CTR to Customer ND123
BSABecky Offline
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BSABecky
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Posts: 126
Seymour, IN USA
As found at the bottom of the CTR instructions on the form:

Paperwork Reduction Act Notice. The requested information
is useful in criminal, tax, and regulatory investigations and
proceedings. Financial institutions are required to provide
the information under 31 U.S.C. 5313 and 31 CFR Chapter X,
commonly referred to as the Bank Secrecy Act (BSA). The BSA
is administered by the U.S. Department of the Treasury’s
Financial Crimes Enforcement Network (FinCEN). You are
not required to provide the requested information unless a form
displays a valid OMB control number.
The time needed to
complete this form will vary depending on individual
circumstances. The estimated average time is 19 minutes. If you
have comments concerning the accuracy of this time estimate or
suggestions for making this form simpler, you may write to the
Financial Crimes Enforcement Network, P. O. Box 39,
Vienna, VA 22183. Do not send this form to this office. Instead, see When and Where to File in the instructions.

Emphasis mine.
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#1523992 - 03/18/11 05:45 PM Re: Giving CTR to Customer ND123
Elwood P. Dowd Offline
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John is correct. It's up to your bank and I too would charge a fee if research was involved.

If they requested the CTR from the administrator of the BSA data base the response would cite FOIA, but FOIA has no application to a request made directly to the bank. The highlighted statement on the form does not support the premise for which it is cited.

What it means is if there was no "OMB No. 1506-0004" on the form the party from whom the information is otherwise required would not have to supply it.
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#1523998 - 03/18/11 05:49 PM Re: Giving CTR to Customer Elwood P. Dowd
BSABecky Offline
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BSABecky
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Posts: 126
Seymour, IN USA
Thanks for that; I wasn't entirely sure. I'm still bothered with the idea of giving a transactor (who is clearly not the beneficiary) a copy of the CTR, though.
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My opinions do not necessarily reflect those of my employer.

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#1524915 - 03/22/11 12:32 AM Re: Giving CTR to Customer BSABecky
Titanic Offline
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Joined: Feb 2005
Posts: 300
My Workplace
I would guess that the transactor is not familiar with the particulars of the form and wishes to keep a copy as a precaution...
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