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#1211928 - 07/03/09 02:36 PM CTR - multiple accounts
WHAT ?!?! Offline
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WHAT ?!?!
Joined: Dec 2006
Posts: 67
John Doe is one of five authorized signers on a business account. The same John Doe is part owner of a DBA account. For CTR purposes do both accounts need to accounted for with John Doe as a beneficiary?

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#1211966 - 07/03/09 03:08 PM Re: CTR - multiple accounts WHAT ?!?!
JacF Offline

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Posts: 6,719
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Which accunts had transactions relevant to the CTR, and who was the conductor?

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#1212027 - 07/03/09 03:32 PM Re: CTR - multiple accounts WHAT ?!?!
WHAT ?!?! Offline
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WHAT ?!?!
Joined: Dec 2006
Posts: 67
Both accounts had cash deposits bringing the total cash deposits to more than $10K. One of the cash deposits was done via night drop.

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#1212090 - 07/03/09 04:09 PM Re: CTR - multiple accounts WHAT ?!?!
JacF Offline

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Joined: Nov 2001
Posts: 6,719
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If I am understanding you correctly, the business acount is owned by Some Company, and the DBA account is owned by Doe, and perhaps another individual. If that's the case, then deposits to the two account are not aggregated for a common beneficiary.

HOWEVER, if you identify that the deposits have a conductor in common, and that individual conducts more than $10k in currency, then you do have cause for a CTR, and will report all affected accounts accordingly.

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#1212200 - 07/03/09 05:32 PM Re: CTR - multiple accounts JacF
YoungAndEager Offline
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Joined: Apr 2009
Posts: 135
Indiana
scott,
Did John Doe deposit more than $10k in cash in one business day? If so, then you must file CTR and include all accounts affected in item 35.
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