If a non-customer brings in over $10,000 in cash to wire to a company to purchase equipment, who would be the "person on whose behalf the transaction was completed" on a CTR since the person with the cash would not have the identifying information such as TIN for the company receiving the wire transfer?
What is the proper titling for a representative payee account for Social Security and what would the relationships be?
We have a joint account for a sole proprietorship that is owned by a husband and wife as a DBA, but for tax purposes the business is filed under the wife's TIN. Should the DBA be listed in Part I, Section A, #5 for both the wife and husband on the CTR form or just the wife?
We have a customer who has an Irrevocable Trust and she wants to use her Social Security number for it (her daughter is the trustee). We told her that an Irrevocable Trust needs to have its own TIN. Her lawyer says she can use her own SSN citing IRC 677a. I looked into it and everything I found says to use a TIN. Can they use her SSN or do they have to get a TIN?
I need help with determining the correct way to file a particular customer's CTRs. We have a customer with two DBA accounts. For example: Jim Shoe Inc DBA Jim #1 and Jim Shoe Inc DBA Jim #2. Each DBA has it's own account number. It is my understanding that we should file a CTR based on the aggregate deposit total for the TIN in this case. If #1 has cash deposits of $5500 and #2 has cash deposits of $6500, then a CTR should be filed. Is this correct? Then, I'm not sure how to prepare the CTR. Should we put Jim Shoe, Inc DBA Jim #1 in Section A on the front and Jim Shoe, Inc DBA Jim #2 in Section A on the back?
SARs reporting suspected mortgage loan fraud continue to increase. This study includes SARs reporting suspected mortgage loan fraud filed between April 1, 2006 and March 31, 2007.
Overview of Fraudulent Activities
Use of the Category ?Other?
I am currently doing the annual review of Phase II exempted entities and I found that a previously exempted business account is now conducting cash deposits to a different account, opened in September, 2006, with a different TIN. The names on the accounts are the same and two of four authorized signers are on both accounts. Can I exempt the new TIN because of the existing exemption status for the old TIN, or do I have to wait for September, 2007?
We have an existing sole proprietor (dba) with a new business TIN who is designated as an exempt entity under their Social Security Number and their next biennial filing is due in 2009. Do we need to file an amended designation?