We have a CTR to file where the wife withdrew $12,000 in cash from their joint checking account (H & W) and received $10,500 in cash which was an advance from a Line of Credit loan which is a joint loan (H & W). The wife came in and transacted both transactions and both transactions happened the same day. My question is since the $10,500 is an advance for loan proceeds should the cash she received from the loan be reported for both since they will both benefit from it since the loan is in both of their names or since she is the one that requested the advance we would only need to report on her??

Thanks!!

You are assuming that both H and W will benefit from her withdrawals, but I see nothing in the scenario to support that. The fact that the line of credit is to both H & W doesn't mean that, when W withdraws from the line, H also benefits. The only thing that is certain is that H and W are jointly and severally obligated on the line of credit. That is, although W drew from the line, both she and H are obligated to pay the line balance.

If you have other knowledge that supports a belief that H also benefited from the withdrawals, you should include both H and W. If not, you would not be wrong to include H, but it's not required to include him.

See question 24 in FinCEN's CTR FAQs.