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Doing a CTR for a Custodial Account

Answered by: 
John Burnett

Question: 
When completing a CTR for a custodial account, the father withdrew over $10,000 cash from his minor son's account. If we do Multiple Persons in Section "A" and the minor has no ID, how do we enter?
Answer: 

If the minor was not present for the withdrawal, you don't need to have information (other than the appropriate notation of "not applicable" or whatever your e-filing regime requires) in item 14. You will need the other information on the son, however.

First published on BankersOnline.com 11/01/10

First published on 11/01/2010

Filed under: 
Security
Filed under security as: 
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