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Joint Account: Do Both Get a CTR?

Answered by: 
John Burnett

Question: 
Mary and John have a joint business checking account. John also has an individual checking account. John makes a cash deposit of $6,000.00; later that same day, Mary makes a cash deposit of $5,000.00 into the joint business account. A CTR gets generated based upon the cash aggregated amount of $11,000.00 for John. Does Mary have a right to have a copy of that CTR? I am worried that if she does, she now can see personal information such as SSN, birthdate etc. Please advise.
Answer: 

If you are concerned about divulging what you don't want to share with Mary, but you want to provide Mary a copy of the CTR, you could redact that information from her copy. If you go to all that trouble, don't forget to redact John's personal checking account number in Part II of the form.

First published on BankersOnline.com 10/25/10

First published on 10/25/2010

Filed under: 
Security
Filed under security as: 
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