01/28/2008
How do you report joint owners on an organization account which is exempt from federal income tax under section 501(c)(3) on a CTR which was filed for a deposit of greater than $10,000?
01/21/2008
When filling out the CTR concerning incoming wires, why do we have to fill out the wire transfer if it is not cash? If does have to be filled out, where do we list the dollar amount in cash-in?
12/10/2007
When a loan is secured by a certificate of deposit held by the same organization should all names listed on the certificate sign the assignment if the C or D states "or" instead of "and"?
11/19/2007
If you have a business that has two owners and each owner comes in (one owner withdraws $11,000 and the other withdraws $8,000) at different times on the same business day would you list this as a multiple transaction in Section B on FinCen Form 104 to show the total amount withdrawn or is there another way this type of transaction should be filed?
11/19/2007
Is it a requirement to apply OFAC to a beneficiary when paying out the balance of an account?
11/05/2007
Are you required to file a CTR if you receive a wire transfer in excess of $10,000?
10/08/2007
Are banks required to search the OFAC lists on domestic banks when wiring funds?
05/21/2007
If a customer comes in and purchases a Savings Bond for his wife with $15,000.00 in cash, should multiple persons be checked? Would just the wife's information go on the CTR since she is the beneficiary or would just the husband's information go on the CTR since he is the one who actually had the cash in hand?
01/22/2007
When opening an account with a POD, do we need the POD's Social Security Number?
11/27/2006
In regard to KYC and CIP, what personally identifiable information is the bank required to obtain for the beneficiary of an account? Full name, address, social security number and date of birth? We want to make sure that we are in compliance but a social security number and date of birth aren't always available for the beneficiary to the individual opening an account.