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#2242161 - 09/08/20 10:49 PM SAR Form Recordkeeping versus CTR Threshold
Compliance Slave Offline
Junior Member
Joined: Nov 2006
Posts: 40
Fresno, CA
I know this seems like an obvious one but I'm struggling.

In field 32 of the SAR form box D, "Transactions below BSA recordkeeping threshold". My understanding is that this only refers to when a customer deposits cash below the $3000.00 recordkeeping threshold for Monetary Instruments and then proceeds to purchase said instruments.

Box E, "Transactions below CTR threshold", would be for cash deposits less than the 10,000.01 requirement for CTRs.

Is this understanding accurate?

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BSA/AML/CIP/OFAC Forum
#2242226 - 09/10/20 05:34 AM Re: SAR Form Recordkeeping versus CTR Threshold Compliance Slave
Compliance Slave Offline
Junior Member
Joined: Nov 2006
Posts: 40
Fresno, CA
Anyone?

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#2242237 - 09/10/20 01:35 PM Re: SAR Form Recordkeeping versus CTR Threshold Compliance Slave
banker1976 Offline
Gold Star
Joined: Nov 2005
Posts: 346
Mid-Atlantic
Yes, below BSA threshold refers to monetary instrument purchases. Below CTR threshold refers to $10,000 or less.
_________________________
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CAFP

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#2242293 - 09/10/20 08:45 PM Re: SAR Form Recordkeeping versus CTR Threshold banker1976
Compliance Slave Offline
Junior Member
Joined: Nov 2006
Posts: 40
Fresno, CA
Thank you very much.

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