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Filing CTR for Deposit/Withdrawal Husband/Wife

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Question: 
The wife of the member withdraws $6,500 from their joint account. Later that day, the husband comes in with several checks. He wishes to just cash them, which amounted to about $4,500. In total the cash was $11,000. Do we need to file a CTR, and if so, do we do it on both?
Answer: 

The consensus on withdrawals from joint accounts is that they are presumed to be conducted on behalf of all joint owners, unless you have knowledge to the contrary (for example a statement like "I'm treating myself to a solo cruise. Paul (the joint owner) can't get away from work, but he told me I should take the trip anyhow.") If your credit union shares in that consensus, you'd file the CTR, naming each spouse as a person "on whose behalf the transaction is conducted."

First published on BankersOnline.com 8/20/12

First published on 08/20/2012

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