Is Chamber of Commerce An Automatic Exemption?

Answered by:

Question:

The city's chamber of commerce made a deposit for over $10,000. Is a chamber of commerce an automatic exemption or do we need to file a CTR?

Answer:

by Kathleen Blanchard: The chamber of commerce is generally a private non governmental organization comprised of business members. It is not a governmental body and would not be automatically exempt.

Answer:

John Burnett: Unless your local Chamber of Commerce conducts a lot of fundraisers, the likelihood of it qualifying for a "Phase II" exemption is pretty low, since reportable cash transactions aren't likely to be "frequent."