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#807683 - 08/31/07 07:44 PM CTR Question
Tessie Offline
100 Club
Joined: Jan 2006
Posts: 155
We had a wife come in and take $9,900 cash out of a joint account. The husband later came in and closed the joint account and opened a new account and took out $1,000. The deposit ticket is on the new account, but really the money is from the old account. Would this require a CTR???

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Deposits and Payments
#807733 - 08/31/07 08:13 PM Re: CTR Question Tessie
cbinder63 Offline

Platinum Poster
cbinder63
Joined: Dec 2001
Posts: 674
Colorado
No, more than $10,000 did not leave the bank.
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#808096 - 09/04/07 12:08 AM Re: CTR Question cbinder63
complianceman Offline
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complianceman
Joined: Mar 2005
Posts: 687
New Albany, IN
I believe CTRs are not just account related but customer related (I.e, the Husband benefitied fromthe $9,900 withdrawal from teh joint account and he also benefitted from the $1,000 withdrawal from the "new account", which exceeds $10,000). So in this case, I woudl file a CTR on the "husband" for a withdrawal from these two accounts totaling $10,900.
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#808146 - 09/04/07 01:31 PM Re: CTR Question complianceman
LoisLane Offline
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LoisLane
Joined: Oct 2001
Posts: 1,570
Wisteria Lane..
Originally Posted By: complianceman
So in this case, I woudl file a CTR on the "husband" for a withdrawal from these two accounts totaling $10,900.


If the husband only transfered the $1,000 to the new account (and did not receive cash), less than $10,000 cash is involved in the two transactions. You wouldn't want to file a CTR on a transation that involved less than $10,000 cash.
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