CTR on a Representative Payee Account

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Question:

We need to file a CTR on a representative payee account. Example: John Smith Joan Smith representative payee. Should both names be entered onto the CTR or just the representative payee?

Answer:

Both parties should be listed. Create two section A entries, with the Rep Payee on the front (so that you can check "conducted on own behalf" in Section B). In the Rep Payee's entry, describe his/her business as "Rep Payee for [name]."

First published on BankersOnline.com 12/10/07