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CTR - Cash Back on a CD

Answered by: 
John Burnett

Question: 
A customer brought in a check drawn on another bank for $35,000.00. He opened a CD for $3,000.00 and a checking account for $7,000.00 and got $25,000.00 back in cash. How do I fill out Part II of the CTR?
Answer: 

The cash-out transaction is listed as a negotiable instrument cashed, with a dollar amount of $25,000. No account number information is provided because the check is not drawn on your bank. You can annotate your retained copy of the CTR to further describe the transaction so that it can be retrieved if necessary later.

First published on BankersOnline.com 5/25/09

First published on 05/25/2009

Filed under: 
Security
Filed under security as: 
IT

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