Posted By: MakingWaves
CTR Exemptions-50% of gross revenue - 11/04/20 08:18 PM
In need of some guidance on procedures used to determine if not more than 50% of gross revenue from ineligible business activities for CTR exemptions. What documentation is use to support the designation?
Posted By: Patriot
Re: CTR Exemptions-50% of gross revenue - 11/05/20 11:35 PM
We send out a questionnaire and have signed by customer. We review annual activity also. It helps that one customer also has loans, so we have their tax returns and financial statements.
Posted By: Lele
Re: CTR Exemptions-50% of gross revenue - 11/09/20 09:50 PM
Would you mind sharing your questionnaire, please?
Posted By: Patriot
Re: CTR Exemptions-50% of gross revenue - 11/10/20 12:24 AM
I will send when I get back in the office.