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#1780852 - 01/29/13 07:07 PM CTR Legacy Form Completion Question
jade1234 Offline
Joined: Jul 2010
Posts: 97
Medford, Oregon
Customer deposits $14,000 in cash to their personal (individual) checking account and then writes a check from the same account to purchase a Cashier's Check for $14,000. How is the legacy CTR form completed, specifically, is this multiple transactions and would you check both Negotiable Instrument Purchased and Deposit/Withdrawal? Thanks.

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#1780866 - 01/29/13 07:40 PM Re: CTR Legacy Form Completion Question jade1234
cbinder63 Offline

Platinum Poster
Joined: Dec 2001
Posts: 674
Only the cash deposit would be reportable on the CTR. Deposit/Withdrawal only.
Opinions expressed are my own.

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#1780869 - 01/29/13 07:42 PM Re: CTR Legacy Form Completion Question jade1234
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 39,593
Cape Cod
For the CTR, there is only one transaction -- the deposit of cash. The purchase of the cashier's check does not involve cash.

Note: If the cashier's check purchase had been for an amount between $3,000 and $10,000, inclusive, you'd have to treat it as a cash purchase of a monetary instrument for record keeping purposes even though the cash was actually deposited to the account.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8

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