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#810205 - 09/06/07 03:53 PM CTR/ box 1(c) & box B(d)/ Multiple Transactions
Jack III Offline
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Joined: Sep 2007
Posts: 17
On the Currency Transaction Report the box 1(c) Multiple Transactions means that transactions were conducted with different tellers on the same branch or in different branches on the same business day. While box B(d) Multiple Transactions means if there are multiple transactions that, if only when aggregated, the financial institution has knowledge
the transactions exceed the reporting threshold, and therefore, did not identify the transactor(s).

It this is correct?, Both boxes can be selected at the same time?
Can you provide examples?


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#810314 - 09/06/07 04:59 PM Re: CTR/ box 1(c) & box B(d)/ Multiple Transactions Jack III
WonderWoman Offline
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gone fishin'
Both boxes can be selected at the same time. However, if you can identify an individual who brought in the monies, you would include them in Section B & NOT check the second MT box.
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#810315 - 09/06/07 05:00 PM Re: CTR/ box 1(c) & box B(d)/ Multiple Transactions Jack III
Curious Offline
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1(c) Multiple Transactions will be checked if the Financial Institution has the knowledge that more than one transaction were conducted on the same business day.
If the individual conducting the transaction is the account holder or the person himself/herself, section B will be left blank, except that '(e) Conducted on own behalf' will be checked. Incases where armoured car, ATM/ night depository, mail deposit was involved, appropriate box will be checked. If however, the transaction was conducted by some other person, section B will be filled out.If the transaction was not conducted by the person for himself/herself but was conducted by others and these involved multiple transactions, then details are not required to be filled in section B, but only the box for multiple transactions checked.
Thus this box (for multiple transaction) has nothing to do with how the bank became aware of the reportable transaction. This box will ALSO be checked (in addition to the box 1c) if the transactions were done by some one else.

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#810494 - 09/06/07 06:37 PM Re: CTR/ box 1(c) & box B(d)/ Multiple Transactions Curious
John Burnett Offline
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Just think of the boxes at the top of Section B as your "why the information for Section B is incomplete" excuse boxes.

For example, if a business makes four night deposits and brings one deposit into the branch, and you are aware at the time the "in person" transaction is conducted that a CTR covering all five deposits is required, you must obtain info on the individual conducting the "in person" transaction and record it in Section B. FinCEN wants you to try to get Section B information on the individuals who made the night deposit, too, but recognizes that isn't always possible. So you provide Section B info on one individual, but check box B(d) to show that you aren't including all the information requested by the form.

Box 1(c) indicates that the CTR includes information on more than one transaction as recorded on your books. The two boxes are independent of one another, but if you've checked box B(d) you will almost certainly check box 1(c).
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8

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#881712 - 01/03/08 08:01 PM Re: CTR/ box 1(c) & box B(d)/ Multiple Transactions John Burnett
river girl Offline
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Posts: 1,005
We have been marking 1(c) multiple transactions if there are any types of transactions to the account - not just cash transactions.
Example: brings in $25,000 check, and deposits $5,000 to checking and takes cash out of $20,000.
We mark multiple transactions because 1=deposit, 2=cash out.

After reading all these posts, I think this might be wrong.

Does the two or more transactions have to involve currency in order to qualify as multiple?

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#881741 - 01/03/08 08:12 PM Re: CTR/ box 1(c) & box B(d)/ Multiple Transactions river girl
BrendaC Offline
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Posts: 6,029
Sweet Home AL
The purpose of the CTR form is to report cash transactions. You should not be adding in other types of transactions, such as the check deposits.

In your scenario, I would report $20,000 cash out as a negotiable instrument cashed. I would not document as multiple transactions.
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