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How to do CTR for Authorized Signer

Answered by: 
Ken Golliher

Question: 
We had a large (over $10,000) cash deposit made at our bank into an individual account with an authorized signer. The account owner is deceased and the authorized signer brought in the cash deposit. How should we complete a CTR?
Answer: 

The decedent did not benefit from the transaction. The authorized signer did not benefit from the transaction. Section A could only be the decedent's estate. Section B will be the authorized signer, not because he used to sign on the account, but because he is the person who conducted the transaction.

First published on BankersOnline.com 8/23/10

First published on 08/23/2010

Filed under: 
Operations
Filed under operations as: 
Estate

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