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#213426 - 07/20/04 07:08 PM CTR
Anonymous
Unregistered

I know this has been asked before, sorry....., but I cannot remember,,, here is the question..

If one person comes in and cashes 10 checks for 10 individuals and the amount is over $10,000.00 do we do a CTR?
This person will be by himself cashing for individuals that are working for him...

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General Discussion
#213427 - 07/20/04 07:26 PM Re: CTR
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Yes, you file the CTR, based on the instruction that calls for a CTR whenever one person conducts transaction(s) exceeding the threshold.

Obtaining the Section A information on the 10 individuals will be an interesting exercise, don't you think?

We (my former employer) politely told an employer who liked to send a courier like this to provide us with a list of all the Section A information with the paychecks or we would refuse service.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
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#213428 - 07/22/04 02:04 AM Re: CTR
Anonymous
Unregistered

What if someone simply deposits a large check. Does it require a CTR?

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#213429 - 07/22/04 02:39 AM Re: CTR
Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
No. CTRs are for cash only. The C stands for Currency.
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Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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