Get the free Currency Transaction Report

This document is used by financial institutions to report transactions involving currency that exceed $10,000, in compliance with the Bank Secrecy Act.

How to fill out currency transaction report

How to fill out Currency Transaction Report

1. Obtain the Currency Transaction Report (CTR) form from the appropriate financial authorities or your institution’s compliance department.
2. Fill in the name of the financial institution that is filing the report.
3. Provide the date and time of the currency transaction.
4. Enter the name, address, and taxpayer identification number (TIN) of the individual or business conducting the transaction.
5. Detail the transaction specifics, including the type of transaction (e.g., cash deposit, withdrawal) and the amount involved.
6. Specify whether the transaction was conducted for the individual or on behalf of someone else.
7. Ensure all required signatures are obtained and included in the report.
8. Review the completed report for accuracy and compliance before submission.
9. Submit the report to the appropriate regulatory agency as required within the specified timeframe.

Who needs Currency Transaction Report?

1. Financial institutions that handle cash transactions exceeding the specified reporting threshold.
2. Businesses that engage in large cash transactions or currency exchanges.
3. Cash-intensive industries that regularly deal with significant amounts of currency.
4. Entities required by law to comply with anti-money laundering regulations.

People Also Ask about

Who receives SARs and CTRs?

Currency Transaction Records (CTR) and Suspicious Activity Reports (SAR) are financial reporting forms that track activity in the financial system for the purposes of criminal investigation and enforcement. The Internal Revenue Service (IRS) has access to such resources for Title 26 civil income tax purposes.

What is an example of a currency transaction report?

Example 1: A person deposits $11,000 in currency to his savings account and withdraws $3,000 in currency from his checking account. The CTR should be completed as follows: Cash In $11,000 and no entry for Cash Out. This is because the $3,000 transaction does not meet the reporting threshold.

Who must file a CTR?

Federal law requires financial institutions to report currency (cash or coin) transactions over $10,000 conducted by, or on behalf of, one person, as well as multiple currency transactions that aggregate to be over $10,000 in a single day. These transactions are reported on Currency Transaction Reports (CTRs).

What constitutes a SAR?

A SAR is a Suspicious Activity Report, a piece of information which alerts law enforcement that certain client/customer activity is in some way suspicious and might indicate money laundering or terrorist financing.

What is the difference between suspicious activity report and suspicious transaction report?

In simple terms: SARs focus on unusual behaviour, while STRs are all about suspicious transactions.

Can you file a CTR without a social security number?

Identification Required A bank must verify and record the name and address of the individual presenting a transaction, as well as record the identity, account number, and Social Security or taxpayer identification number, if any, of any person or entity on whose behalf such a transaction is conducted.

For pdfFiller’s FAQs

What is Currency Transaction Report?

A Currency Transaction Report (CTR) is a document that financial institutions are required to file with the Financial Crimes Enforcement Network (FinCEN) in the United States. It reports transactions involving cash deposits, withdrawals, or exchanges that exceed $10,000.

Who is required to file Currency Transaction Report?

Financial institutions, such as banks and credit unions, are required to file a Currency Transaction Report for any transaction involving cash that exceeds $10,000 in a single day.

How to fill out Currency Transaction Report?

To fill out a Currency Transaction Report, financial institutions must gather necessary information about the transaction, including the date, amount, and details about the person conducting the transaction. They then complete the CTR form, providing accurate information before submitting it electronically to FinCEN.

What is the purpose of Currency Transaction Report?

The purpose of a Currency Transaction Report is to help detect and prevent money laundering, fraud, and other financial crimes by monitoring large cash transactions that may be indicative of illegal activities.

What information must be reported on Currency Transaction Report?

The information that must be reported on a Currency Transaction Report includes the name, address, Social Security number or taxpayer identification number of the individual conducting the transaction, transaction details, such as date and amount, and the financial institution's details.