Skip to content
 

Check Cashing Businesses-CTR

Answered by: 
John Burnett

Question: 
I have a customer that is related to three businesses. He comes in and cashes checks on each business which aggregates to over $10,000.01. Do I complete the CTR on the business or on him? He is conducting the transaction on behalf of each business. (check cashing businesses).
Answer: 

If the transactions are made on behalf of the three businesses, the CTR must have three Section A entries -- one for each of the businesses. One Section B entry should be completed, on the individual completing the transactions.

First published on BankersOnline.com 7/4/11

First published on 07/04/2011

Filed under: 
Security
Filed under security as: 
Checks

Report a problem with this page

Search Topics