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#2245949 - 11/30/20 05:21 PM CTR's Cash Out Foreign Currency
BSAGal Offline
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Joined: Jun 2018
Posts: 9
If a customer makes a withdrawal from an account to purchase foreign currency, the US dollar equivalent of the withdrawal is less than $10,000 ($4,500) however it is over $10,000 in foreign dollars. Do we only need to consider the US dollar amount of the withdrawal to determine if a CTR should be filed in this situation?

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#2245952 - 11/30/20 05:43 PM Re: CTR's Cash Out Foreign Currency BSAGal
BrianC Online
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BrianC
Joined: Nov 2004
Posts: 6,364
Illinois
CTR is based on US dollars. $4,500 does not trigger the CTR thresholds.
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