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CTR for Large Check for Christmas Bonuses

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A customer cashes a large check that results in a reportable CTR. My question is that the funds from the check are for Christmas bonuses for the customer's employees. I have the customer as the conductor, but who will be the beneficiary? Can we list the business as the beneficiary?

The business received the cash to do with it as they please. The check is not being cashed on behalf of the employees. There is no beneficiary designation on a CTR. It is only who conducted and on who's behalf was it conducted.

First published on 01/19/2020

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