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CTR - Savings Bond Purchased for Spouse

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If a customer comes in and purchases a Savings Bond for his wife with $15,000.00 in cash, should multiple persons be checked? Would just the wife's information go on the CTR since she is the beneficiary or would just the husband's information go on the CTR since he is the one who actually had the cash in hand?

Will you settle for both? The wife is the person benefiting from the transaction, so her information goes in Section A. The husband is completing the transaction, so his information goes in Section B. Identifying the parties is the same process, whether you're dealing with cash deposits to an account or cash purchases of savings bonds. You report on the person(s) benefiting from the transaction and on the individual(s) making the transaction. No, based on what you've told us, "multiple persons" would not get checked.

First published on 5/21/07

First published on 05/21/2007

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