Skip to content
BOL Conferences Top Gun 23
Thread Options
#625720 - 10/17/06 02:12 PM CTR - Business Owner
loyo111 Offline
100 Club
Joined: Mar 2006
Posts: 102
If a business owner withdrawls $13,000 from his corporate account and $10,000 from his personal account, do you solely fill in Section 1 A with his personal information and list the 2 separate account numbers in Part II or do you fill in Section 1 A (front and back) with his personal info and his corporation info?

Return to Top
#625721 - 10/17/06 02:58 PM Re: CTR - Business Owner
dgp Offline
100 Club
Joined: May 2005
Posts: 145
I would treat this as a multiple transaction with the same individual receiving all cash proceeds and complete Section 1 A with persosnal info and list the 2 separate account numbers in Part II.

Return to Top
#625722 - 10/17/06 04:56 PM Re: CTR - Business Owner
devsfan Offline
Diamond Poster
Joined: Jun 2004
Posts: 1,927
The proper way to complete the CTR would actually depend on who is getting the benefit of the cash withdrawal from the business account. If it is for the benefit of the business, such as for petty cash, then the business should be shown in Part 1 Section A with the business owner shown on page 2, Part 1 Section A. If this is the case the simpler way to complete the CTR would be to show the owner on page 1, the business on page 2, check 1 b and c, and check box e in Section B.

If, on the other hand, you know that the owner benefitted from both withdrawals, you would only show him ad dgp indicated.

Return to Top
#625723 - 10/17/06 07:07 PM Re: CTR - Business Owner
Sing A Little Offline
Power Poster
Sing A Little
Joined: Jul 2006
Posts: 3,889
I agree with devsfan on how to fill out the CTR in both scenarios. You just determine who benefited from the cash withdrawal on the business account.
He who sings scares away his woes. ~Cervantes

Return to Top

Moderator:  Andy_Z