23 cent error on CTR

Posted By: Oh My!!!

23 cent error on CTR - 02/24/21 10:54 PM

I filed a CTR and somehow dropped the cents. Is a correction required for a 23 cent error?

Thanks in advance.
Posted By: Oh My!!!

Re: 23 cent error on CTR - 02/24/21 10:58 PM

I will add, it was a business with multiple deposits on the same day.
Posted By: Q

Re: 23 cent error on CTR - 02/25/21 10:58 PM

Are you saying you rounded down? CTRs do not use cents. if you rounded down so CTR was suppose to 11,001 but you reported 11,000 then yes you would need to file an amendment/correction.
Posted By: GrannieTwo

Re: 23 cent error on CTR - 02/26/21 01:34 PM

I found out the hard way also that all my learning in school (I won't state how long ago) was round down if under $.50 and round up if over $.50, but not correct in the CTR world. Yes, I had to amend, but I had multiple CTRs to fix. My suggestion, possibly wrong, would be if you have one, contact FinCEN and ask. I have found FinCEN to be very helpful. I once had an error with an address on several CTRs and SARs, and was told that since I was aware of the error and it would be corrected immediately, which it was, it was not necessary to amend. Just saying. It never hurts to ask.