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#1775692 - 01/11/13 10:02 PM Sons On CTR?
djd Offline
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Joined: Jun 2012
Posts: 53
We had a client come in with 3 checks. Each check was payable to each of his 3 sons that were not with him. They signed the checks over to him. The total of all 3 checks is $15,704.00. I know I need to do a CTR for the dad. My question is do I need to add the 3 boys? None of the checks were over $10,000.00.

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#1775697 - 01/11/13 10:08 PM Re: Sons On CTR? djd
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
Since they signed the checks over to Dad, it is the Dad's money at this point.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#1775699 - 01/11/13 10:09 PM Re: Sons On CTR? djd
djd Offline
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Joined: Jun 2012
Posts: 53
Thanks for the help.

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#1775711 - 01/11/13 10:23 PM Re: Sons On CTR? djd
djd Offline
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Joined: Jun 2012
Posts: 53
What if the sons signed their checks and the dad signed below them without them putting pay to the order of? Would it still all be under the dad?

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#1775712 - 01/11/13 10:25 PM Re: Sons On CTR? djd
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
Once the checks are signed in blank, they are bearer instruments. Whoever has them can cash them.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#1775725 - 01/11/13 10:57 PM Re: Sons On CTR? djd
djd Offline
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Joined: Jun 2012
Posts: 53
Okay, thanks.

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