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Don't attempt to avoid a CTR by splitting your transaction into multiple transactions, or by making a transaction just under $10,000. Deliberately evading the CTR reporting threshold is a federal crime known as "structuring."

Chief Executive Officers; BSA and Compliance Officers of All National Banks; Federal Branches and Agencies; Department and Division Heads; and All Examining Personnel The Financial Crimes Enforcement Network (FinCEN) recently announced the December 5, 2008, publication in the Federal Register of the final rule on ...

A currency transaction report (CTR) is a bank form used in the U.S. to help prevent money laundering. This form must be filled out by a bank representative whenever a customer attempts a currency transaction of more than $10,000.

A bank must electronically file a Currency Transaction Report (CTR) for each transaction in currency (deposit, withdrawal, exchange of currency, or other payment or transfer) of more than $10,000 by, through, or to the bank.

A financial institution and any ?nonfinancial trade or business? must file a report concerning a transaction (or series of related transactions) in excess of $10,000 in currency. FinCEN regulation 31 CFR 1010.310 requires that financial institutions file currency transaction reports (CTRs).

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).

A financial institution and any ?nonfinancial trade or business? must file a report concerning a transaction (or series of related transactions) in excess of $10,000 in currency. FinCEN regulation 31 CFR 1010.310 requires that financial institutions file currency transaction reports (CTRs).

Banks already know that many individuals and businesses will try to get around the CTR requirement by making multiple deposits at the same bank over several days. Others may attempt to evade the requirement by going to many different banks on the same day or several days.

A currency transaction report (CTR) is a bank form used in the U.S. to help prevent money laundering. This form must be filled out by a bank representative whenever a customer attempts a currency transaction of more than $10,000. It is part of the banking industry's anti-money laundering (AML) responsibilities.

In the vast majority of cases, this does not cause problems for the person or business initiating the transaction. However, it is not unheard of for FinCEN (Financial Crimes Enforcement Network) or the IRS to investigate sources of CTRs and recommend prosecution.