Check Your CTR Form - Must be 104 after 8/31/04

In March, the Treasury Department's Financial Crimes Enforcement Network issued a new Currency Transaction Report - FinCEN Form 104, which replaces the IRS's CTR Form 4789. The form is available for use now; however, banks have until August 31, 2004 to use the old forms.

Financial institutions must file the form for each deposit, withdrawal, exchange of currency or other payment or transfer that involves $10,000 in currency.

For more information, go to www.fincen.gov/reg_bsaforms.html.

Copyright © 2004 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 14, No. 3, 7/05