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#1652392 - 01/18/12 08:25 PM CTR on corporation
morirse de risa Offline
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Posts: 238
Midwest
John Doe brings in $12,000 for his corporation ABC Inc. He is one of the owners of this corporation.

I am assuming we would complete 2 section As, one for the corporation and one for John Doe, since he is benefiting from the transaction. And then we would mark conducted on own behalf for each one. Is this correct?

Or would John Doe's information go in section B?

Thanks for your help!

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#1652421 - 01/18/12 08:58 PM Re: CTR on corporation morirse de risa
rlcarey Online
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rlcarey
Joined: Jul 2001
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Galveston, TX
Section A - ABC, Inc.
Section B - John
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#1652427 - 01/18/12 08:48 PM Re: CTR on corporation morirse de risa
morirse de risa Offline
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Midwest
Thank-you for your answer.

How come John Doe's info wouldn't go in section A? Isn't he benefiting from the transaction, as owner?

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#1652498 - 01/18/12 09:53 PM Re: CTR on corporation morirse de risa
morirse de risa Offline
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Posts: 238
Midwest
Where can I find additional instructions for CTR completion (something in addition to what is on the back of the CTR)?

I have checked fincen's website, but could not find anything.

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#1652507 - 01/18/12 10:23 PM Re: CTR on corporation morirse de risa
MsFaye Offline
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The Dakotas
Corporations are separate from their owners. Only sole proprietors can benefit from transactions made to and from their businesses.
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#1652599 - 01/19/12 01:26 PM Re: CTR on corporation morirse de risa
John Burnett Offline
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John Burnett
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Cape Cod
Think of it this way -- as long as the corporation is legitimate (it's not a shell operated to launder money, for example), the deposit is made on behalf of the corporation, not its owner. The owner benefits from the operations of the corporation (at least that's the intent), but not directly from the currency transaction.

Key phrase in instructions: "person on whose behalf the transaction in currency is conducted." Notice that it does not say "person benefiting from the transaction" or "beneficiary of the transaction."
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