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#2246685 - 12/17/20 06:47 PM CTR Help
praBSA Offline
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Customer A DBA ABC Tree Farm - Same TIN as Owner

Customer B is coded as Owner/Authorized Signor. She's obviously not an owner. Customer A's DBA paperwork is clear and correct. He just wanted his wife to be able to help manage the account.

Cash deposit by A of $20k.

This account shouldn't have been opened this way, but it is what it is.... include B as benefitting? Leaning No..... however.....

CAVEAT : Signature card was signed that customer B has JTWROS. Does that change your answer?

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#2246708 - 12/18/20 12:00 PM Re: CTR Help praBSA
praBSA Offline
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Bump

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#2246711 - 12/18/20 01:03 PM Re: CTR Help praBSA
rlcarey Online
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rlcarey
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Galveston, TX
The account is what it is. It sounds to me like you have a serious flaw in your legal documentation for establishing the account. I would suggest focusing on getting that corrected. The fact that the bank botched up the paper work should not create ownership in the funds over and above the wishes of the customer.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2246716 - 12/18/20 02:39 PM Re: CTR Help praBSA
praBSA Offline
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I agree. This account was setup a few decades ago apparently. I am going to include Customer B as that is how the account is setup. Are you in agreement?

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#2246717 - 12/18/20 02:49 PM Re: CTR Help praBSA
rlcarey Online
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rlcarey
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Galveston, TX
Not sure anyone has enough information to agree or not. If Customer B is only an authorized signer on the account, they have no involvement in the transaction unless they conducted it. Like I said, how you have the account set up on your system, if it is in error, does not suddenly make Customer B involved. You need to get on the phone with the customer, figure out everyone's relationship to the account and get it documented correctly. Only then will you have the information required to file the CTR without just guessing.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2246719 - 12/18/20 03:12 PM Re: CTR Help praBSA
praBSA Offline
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Thanks

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