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#561898 - 06/02/06 08:32 PM Phase I CTR Exemption
LGoforth Offline
Junior Member
Joined: Feb 2005
Posts: 25
KY
Would the County Fiscal Court be considered a Phase I Exemption as a government agency/governmental authority? Also, if I have two separate accounts for the above in question with the same employer identification number (EIN) would I aggregate those accounts together to qualify them for exempt status? How would I document their exempt file? Would I include copies of their statements along with a copy of the signature card? I know that I have 30 days from the date of the transaction to file a Designation of Exempt Person Form if the entity does qualify. Thanks.

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#561899 - 06/02/06 10:11 PM Re: Phase I CTR Exemption
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
This sounds like a governmental authority that qualified for Phase I exemption treatment. You don't need to lump accounts together, since all currency transactions a Phase I exempt entity does are exempted from CTR filings, whether or not they go through an account.
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