A customer came in and made a large cash deposit into a beneficial trust. We created a section for the transactor and are now creating a section for the beneficial trust. My question is who do I create the CTR as the benefactor. Would it be the trust or do i also have to create sections for the beneficiaries of the trust?
I apologize, my terminology was off. Since the transaction was done on behalf of the beneficial trust how will this need to be added. Will I need to create an entry for each person named on the trust or simply the trust as the person on whose behalf transaction is conducted.
If you think the trust is a sham, then I would be looking at filing a SAR. Large cash deposits into a trust account should have a pretty good explanation.
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