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#2261009 - 10/12/21 01:17 PM Deposit Irrevocable Burial Reserve
Luv2run Offline
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Joined: Jan 2015
Posts: 475
I am looking for guidance on how to prepare a CTR for the opening of an Irrevocable Burial Reserve. Two individuals acting as POA opened this reserve account on behalf of a third individual. The account is titled " John Smith Irrevocable Burial Reserve and also has the name of the Funeral Home.

I am not sure how to prepare Part 1 on the "transaction on behalf of" section. Is it the Reserve, is it John Smith, is it the funeral home, or is it some combination of the three.

Any feedback would help!
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#2261022 - 10/12/21 04:36 PM Re: Deposit Irrevocable Burial Reserve Luv2run
Amy S Offline
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Joined: Sep 2020
Posts: 117
I think your second sentence answers your question. The two opening the account would be a part 1 for each, depositing on behalf of someone else, as long as they are not owners on the account. Your third person would be on whos behalf it was deposited part 1 ie The Trust, since the trust now owns the funds. I've never worked with this type of account tho. I'm wondering why they would have cash and I'm finding the two POAs odd, but that is a seperate issue.
Last edited by Amy S; 10/12/21 04:39 PM.
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