topic Re: CTR report?? in Personal Finance

CTR report??

Creditplz — Sun, 10 Sep 2017 06:07:12 GMT

Hey everybody, I just did a business deal with a client here in SoCal, was paid $42,000 via cashiers check, deposited cleared and everything... I'm just wondering, are CTR reports filed for checks??.

Everything I read and a banker friend of mine stated that it's paper currency/coin amounting to 10,000 or more, also he said don't try concealing or depositing smaller amounts etc... structuring. Also my banker friend said that since the money was drafted from another account there shouldn't have been a CTR filed but possibly a SAR.

I'm just curious, business has been good.

Re: CTR report??

Anonymous — Sun, 10 Sep 2017 19:55:35 GMT

@Creditplz wrote:
Hey everybody, I just did a business deal with a client here in SoCal, was paid $42,000 via cashiers check, deposited cleared and everything... I'm just wondering, are CTR reports filed for checks??.

Everything I read and a banker friend of mine stated that it's paper currency/coin amounting to 10,000 or more, also he said don't try concealing or depositing smaller amounts etc... structuring. Also my banker friend said that since the money was drafted from another account there shouldn't have been a CTR filed but possibly a SAR.

I'm just curious, business has been good.

Nope, CTR is not filed for checks. While a bank can file a STR for just about everything, very very unlikely that it would be done for a single cashier's check. They are commonplace for banks and that amount, while I'm sure it is great for you, is significantly high enough to draw any attention.

Re: CTR report??

Anonymous — Mon, 11 Sep 2017 14:29:13 GMT

No, you should be fine. CTR's are done for cash deposits of $10,000 or more and not for checks.

Re: CTR report??

Creditplz — Mon, 11 Sep 2017 01:06:05 GMT

Got it! Thanks guys! Been avoiding the forums cause of Inq fall offs, waiting till dec 2017 to app for anything new!

See you all in November