Hi, I know this has been (somewhat) answered in years past but wanted to ask again because I still need some clarification.

It is my understanding that when filing a CTR for a cash deposit into a trust account bearing an actual EIN, you would treat it entirely like an entity.

The clarification I need is what to do when the trust is under the individuals SS#. and also has another trustee listed.

My mind goes straight to treating it as you would a DBA (putting trust name in alternate name field, etc.) and listing anyone who has access to the funds (benefiters) .

Is this correct?

My thinking has been muddied since I came across a response I had received from someone at FinCen back in 2015 that instructed me to treat a trust reporting under an individuals SS as an entity in its entirety - marking the entity box, checking "person on whose behalf transaction was conducted" and then listing the conductor information, etc.

Thoughts please. I can't find anything specific to this scenario on FinCens site

I agree that it should be treated as an entity. Just because it is using the SSN of a grantor for tax purposes doesn't change the fact that it is a separate entity from the person.

Also, when you use the term DBA above, are you referring to a Sole Proprietorship? I find that in the industry there is a big misunderstanding of what a DBA is.

My mistake yes, sole prop. Thanks for response.

In the case of an account titled "Sally Jones In Trust for Mark Jones and Mary Jones," which uses SSNs and no EIN, how would a deposit to that account be reported on a CTR? Sally is listed as the account owner "in trust for" and Mark and Mary are listed as beneficiaries. I assume Sally is conducting on behalf of Mark and Mary? It's been a very long time since I've run into one of these.

I would have to ask what sort of account this might be? The titling of the account is not conventional.

"In trust for" or ITF is used in some States as a different version of "payable on death" or POD, which means Mark and Mary actually have no interest in the account until Mary dies. You need to provide us more information about what sort of account this might be.

I just checked with someone and it's payable on death, so my CTR is correct. Thanks!

I assume Sally is conducting on behalf of Mark and Mary?

Then this statement is in error. Any deposit to the account is for the benefit of Sally and it has nothing to do with Mark and Mary. Unless Sally dies, they have no interest in the money.

Agreed. The above account is called a totten trust in the legal world. Mark and Mary have no interest in the account and should not be included in the CTR.

I've never been clear how something like The John & Jane Doe Trust dated 1/1/2011 with John and Jane Doe as trustees is separate entity.

It's a separate legal entity because John and Jane established a trust document (likely with the help of legal counsel) to aid in transferring their assets when they die. Instead of designating beneficiaries on a bank account or having their assets go through probate based on their will, any assets placed in the trust then pass on based on stipulations in the trust document. When the trustees die or become incapacitated, the trust document likely provides for successor trustees so there is seamless control of the assets.

While John and Jane are alive, this type of trust (known as a living trust) is "revocable" meaning that John and Jane can make amendments to the trust at any time. Once John and Jane dies, the trust becomes "irrevocable" and the successor trustees are then bound to manage the trust's assets in accordance with the trust document.