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Occupation "Retired"?

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Question: 
Can we list "retired" in the occupation field when filling out a CTR? Do we really need to know what business or trade the individual is retired from?
Answer: 

Retired is technically allowed. Years ago, the IRS indicated "retired" was not allowed. Sometime in the mid-90's, the IRS indicated it was OK to identify a customer as "retired" but they asked banks to be specific, when possible.

First published on BankersOnline.com 1/15/07

First published on 01/15/2007

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