CTR Report??

Posted By: BruinBanker

CTR Report?? - 02/14/11 05:44 PM

We have 2 supermarket accounts with the same owner, one is exempt from CTR reporting. An employee of the Supermarket came in to cash two checks on behalf of the business totaling 11,000 (cash needed for celebration of Chinese New Year). One check for $6,000 was drawn on the exempt Supermarket, and a $5,000 check was drawn on the non-exempt supermarket. I say NO CTR required here. Is this correct???
Posted By: Doug Hendrickson

Re: CTR Report?? - 02/14/11 05:46 PM

No CTR required. The transaction for the exempted account does not factor into any aggregation.
Posted By: BruinBanker

Re: CTR Report?? - 02/14/11 05:54 PM

Thanks Doug! Appreciate the quick reply.