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Reporting joint account deposits

Do the new instructions change how a single reportable deposit to a joint account is to be reported?

No. As always, include a Part I entry for each joint owner, with the amount of the cash deposited to the account and the account number in item 21. If the conductor is one of the joint owners, complete the conductor’s Part I entry with item 2a checked (on own behalf) and the other Part I entries with item 2c (person on whose behalf transaction was conducted) checked. If the conductor is not one of the joint owners, check item 2b (conducting transaction for another) on the conductor’s Part I entry, and check item 2c on the Part I entry for each of the joint owners.
Learn more about John Burnett’s webinar FinCEN’s new CTR instructions

First published on 03/29/2020

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