Since we are on the same subject about cash withdrawals from a business.....
Customer came into the bank to deposit checks into an account (that has a business name on it - but no EIN or any other supporting docs - this was before CIP requirements.) I even checked our Secretary of State Website and there is no business by that name, even in the inactive file. I should also mention that on our system, it doesn't even has his SSN in the Tax Identification - it is just blank.
Customer took out over the $10,000.00 threshold from the 'less cash received' box. (Versus depositing all of it and writing a check for the cash.)
After talking with the teller that conducted the transaction, she confirms that the cash back would be to buy supplies for the business.
How would I go about putting the Business in the CTR? Would I enter it as another page in the Part I Person involved in Transactions? Or would I enter the business name under the individual that conducted the transaction? So, it would be his name but then put the business name in #8 - Alternate Name. I'm assuming that this is a Sole Proprietor account, but I have no way of knowing 'for sure'.
Sometimes, I overthink these CTR's way too much - to the point it keeps me up at night.
Any help would be greatly appreciated!