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#2137644 - 07/12/17 01:01 AM Transactor for business and DBA
Bec Offline
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Bec
Joined: Jul 2010
Posts: 1,114
The Great White North
Here is the scenario

Business A - $29,675.00 deposited by Transactor A
Transactor A DBA Business B $2,000 deposit

Report Business A $29,675 deposit into business checking as Part I person on whose behalf the transaction is conducted
Report Transactor A $29,675 deposit into business checking as Part I Person conducting transactions for another.
Report Transactor A DBA business B $2,000 into savings account as Part I Person on whose behalf the transaction is conducted.

Or

Report Business A $29,675 deposit into business checking as Part I Person on whose behalf the transaction is conducted
Report Transactor A DBA business B $2,000 and $29,675 deposit into business checking and savings as Part I Person On whose behalf is.

Which is the most accurate?
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#2137646 - 07/12/17 03:54 AM Re: Transactor for business and DBA Bec
BrianC Offline
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Posts: 6,428
Illinois
Is the person who brought in the $31,675 the sole proprietor of Business B or is there another person involved?
Did the same person make both deposits?

If the answer to the above questions is "Yes," then neither answer you propose is correct.

The proper way to complete the CTR is as follows:

Part I - Business A, $29,675 Person on whose behalf transaction is conducted
Part I - Transactor A (list Business B in the assumed name field) $31,675 - conducted on own behalf. (Don't forget to check multiple transactions for Transactor A since this person made two deposits.

The CTR instructions state that we never list a person in multiple Part I's and the instructions to Item 2 provide detailed descriptions of which box to check when multiple scenarios apply. Rather than summarize the permutations here, it is simpler to say the box furthest to the left on the CTR always trumps. (In this case is it box 2a since a deposit to a sole proprietorship is considered to be on the owner's own behalf.)
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#2137757 - 07/12/17 06:23 PM Re: Transactor for business and DBA Bec
Bec Offline
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Bec
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Well thanks for poo-pooing my options. The person that is the sole proprietor of the business brought in all of the cash $31,675 so I believe that your option, which is sort of my option 2 (except for my poor math skills) would be the correct. Thank you so much for your help (I was just kidding about the poo-poo)
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#2137792 - 07/12/17 08:00 PM Re: Transactor for business and DBA Bec
BrianC Offline
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BrianC
Joined: Nov 2004
Posts: 6,428
Illinois
Note the difference in my second Part I - "Conducted on own behalf" vs. your comment of "Person on whose behalf transaction is conducted."
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#2137820 - 07/12/17 09:04 PM Re: Transactor for business and DBA Bec
Bec Offline
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Bec
Joined: Jul 2010
Posts: 1,114
The Great White North
Oh I see that now! Thank you again for your help with this, it is very much appreciated! smile
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