Assistance with completing a CTR

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Question:

We have a customer that came into the bank and closed two accounts, receiving cashier's checks. The customer then turned around and cashed them along with a check on their personal account. Total cash was over $10,000, requiring a CTR. When filling out the CTR do I include the account numbers of the accounts that were closed with the cashier's checks and the customer account the check was drawn on? Also, do I check boxes 34 deposits/withdrawals, box 32 Negotiable instrument(s) cashed AND box 35 Account number(s) affected?

Answer:

Separate the closing of the accounts from the cashing of the cashier's checks. The former has nothing to do with the CTR, because you only report on the transaction that moved the cash.

In this case, include the account number for the cashier's check account. If the personal check was drawn on your bank, include that account number, also. That takes care of item 35, which you will check. Also check box 32 (Negotiable instrument(s) cashed), but not box 34 (deposits/withdrawals).

First published on BankersOnline.com 8/20/12