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CTR for Large Check for Christmas Bonuses

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Question: 
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?
Answer: 

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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