CTR Completion Confusion

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Question:

If A deposits $5,000 cash into his own account, B deposits $6,000 cash into a joint account held by A and B, C deposits $3,010 cash into a joint account held by C and A and $7,000 cash into his own account, if all take place on 1 day, how many CTRs should be filed? How do we complete sections A and B of Part I and what's the total cash involved (box 26) in the CTR(s)?

Answer:

You have to combine the transactions on behalf of a person and transactions made by an individual. Each of the three conductors made a transaction on behalf of A, so all of the transactions get combined in one CTR.

The CTR will have separate Section A entries for A, B and C, there need not be any Section B entries (except for "conducted on own behalf" in Section B on the front), and the total in item 26 is $21,010. All of the account numbers get listed in Part II of the form. Check "multiple transactions" in item 1.

First published on BankersOnline.com 5/11/09