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#495614 - 02/08/06 09:44 PM late filing of CTR
nemsi Offline
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Joined: Nov 2005
Posts: 383
during a routine review of transactions it was determined that a transaction dated more than 30 days ago is subject to ctr filing. the customer is a phase II exemption but the transaction was not processed through a "transaction account" not on us checks were cashed out at the teller line. i have the ctr ready to file. my question, do i just file normal and it's late? should i include a letter explaining- as well as i can- why it's late? help.

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#495615 - 02/08/06 09:56 PM Re: late filing of CTR
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,786
Cape Cod
Include an explanation. More importantly, keep a copy with the CTR in your files to explain it to your examiner/auditor. Stuff happens, and a single error of this type isn't going to boil you in oil if you can explain it and demonstrate that you've put controls into place to lessen the chance of a repeat performance.
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#495616 - 02/09/06 01:36 PM Re: late filing of CTR
nemsi Offline
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Joined: Nov 2005
Posts: 383
Thank you John.

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