Skip to content
 

Completing CTR for Sole Prop Deposits

Answered by: 
John Burnett

Question: 
How do we complete Part 1 of the CTR for a sole proprietor's deposit of money if they are not conducting the transaction? We know Section B would be who is conducting the transaction. Do we have to fill out 2 Section A's, one for the business information, and one for the sole proprietor's personal information?
Answer: 

You won't get unanimity on this answer, but I'll offer my opinion.

I would treat the individual and the business as a single entity, which really "tells it like it is" for a sole proprietorship. I suggest you complete section A as if the money were being deposited on behalf of the individual, using the individual's SSN, address, and other ID information, and adding the name of the business in the "DBA" item.

As you have noted, you'll complete Section B with information about the transactor.

First published on BankersOnline.com 10/18/04

First published on 10/18/2004

Filed under: 
Security
Filed under security as: 
ID
IT
Sole Proprietorship
SSN

Report a problem with this page

Search Topics