Hello, I have been searching and searching old threads, old posts, FinCEN guidance and just not feeling confident I understand the right way to file my CTR due to this being an irrevocable grantor trust. I have been reading about the differences between the types of trusts and there is a lot of information.
$30,000 deposit into John and Jane Doe Irrevocable Trust (using an EIN) with Sally Doe as the trustee on the account. Jane is who made the deposit, though. From what I have read, Jane would be listed as "conducting transaction for another" because she is not the trustee, even though she is one of the grantors of the trust. And then the trust would be listed as "on whose behalf the transaction was conducted" because it is treated like a business.
Would this be the correct way to file? This was my first interpretation from the other information I have found regarding grantor trusts and how they work and why they are set up.
Or do the grantors of the trust also need to be listed as "on whose behalf the transaction was conducted" to show they are benefitting which would make Jane Doe transacting on own behalf? This is where I am confused.
Any advice would be greatly appreciated.
Thank you