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CTR on Deposits into Personal & Business Accounts

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Question: 
If a customer deposits $8,000 cash into his or her personal account and $3,000 cash into a business account for which he or she is an authorized signer, does a CTR need to be filled out? What if the customer makes the $8,000 deposit into his or her personal account and one of the other authorized signers on the business account makes the $3,000 deposit, then does a CTR need to be filled out?
Answer: 

If a customer deposits $8,000 cash into his or her personal account and $3,000 cash into a business account for which he or she is an authorized signer, does a CTR need to be filled out?

Yes, there is two beneficiaries (two Section As) and one conductor (Section B - conducted on own behalf). Since the conductor did cash transactions over $10,000 a CTR would be required.
What if the customer makes the $8,000 deposit into his or her personal account and one of the other authorized signers on the business account makes the $3,000 deposit, then does a CTR need to be filled out?
No.

First published on BankersOnline.com 2/18/08

First published on 02/18/2008

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