Is it a requirement that if a person inquires about the reporting requirements that we file an immediate SAR? It was an elderly gentlemen exchanging $100 bills for the new ones as gifts for his children and grandchildren for $11,000 in three transactions. A FinCEN pamphlet was given to him after the second withdraw but he did proceed to make another withdraw putting him at $11,000. I just hate to clog up the files with a minor structuring from an elderly person that the source funds are not suspicious.

So you did file a CTR?

No it was three transactions totaling $11,000.

If the 3 transactions tha you described were conducted on the same day by the same individual a CTR is required.

On different days

I don't think there is such a thing as "minor structuring." If you suspect he divided the three transactions to avoid the filing of a CTR, then a SAR would be warranted.

This is your decision, but if he asked about the reporting requirements and then conducted 3 transactions on separate days (you don't say how far apart the days are) it is pretty obvious that he structured. If he did not ask and then did it you could conclude that he was ignorant and document your decision to not file accordingly.

No; asking a question is not structuring.

However, as devsfan's analysis reflects, if your customer has asked questions about reporting or recordkeeping requirements and then conducts transactions that appear to be designed to avoid those requirements, you have to accept the fact that 2 + 2 = 4. The FinCEN CTR even provides an extra box for you to check when the customer has made such inquiries.

Oh that's right, thanks Ken.