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#1714502 - 06/26/12 10:19 PM CTR filing on a business
UTBPMOM Offline
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Joined: Sep 2005
Posts: 73
Here is the question: On a business account (other than DBA) when you file a CTR do you complete the CTR with the business account information and the person who completed the transactions or do you also include every signer for the business on the CTR? We are currently using a system that shows all signers on the business acct, this becomes an issue when one of the signers is the person who actually completed the transactions. it makes it very confusing.

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#1714511 - 06/26/12 11:04 PM Re: CTR filing on a business UTBPMOM
KTW327 Offline
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KTW327
Joined: Mar 2011
Posts: 183
In the trees
The person that conducted the transaction would be the conductor. The business would be the beneficiary. There is no need to list every signer on the business account as only the entity benefits from the deposit.

If you are filing for a withdrawal- you would also list the business as the beneficiary unless you had knowledge that an individual was the beneficiary of the transaction.

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#1714527 - 06/27/12 09:00 AM Re: CTR filing on a business UTBPMOM
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
"DBA" is not a synonym for "sole proprietorship." Corporations, partnerships, LLC's can use DBA names as well.

As set out by KTW327, the takeaway is that signatories on entity accounts do not automatically benefit from a deposit or withdrawals on an entity's account. Your software's assumption to the contrary is a bit nonsensical; i.e. it is wrong.
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