Which transaction would trigger a CTR?

Which transaction would trigger a CTR?

• A. A deposit of 12,000 in currency
• B. A deposit of 9,000 in currency
• C. A transfer between accounts electronically
• D. A purchase using a debit card

Answer: (A)

A Currency Transaction Report is triggered when a cash transaction exceeds the $10,000 threshold in a single day. Depositing cash that totals 12,000 in one day clearly crosses that limit, so the bank must file a CTR with FinCEN. Deposits of 9,000 are under the threshold, and electronic transfers or debit-card purchases involve non-cash methods, so they don’t require a CTR on their own. Remember, multiple cash deposits within the same day that total over 10,000 also require a CTR.

A Currency Transaction Report is triggered when a cash transaction exceeds the $10,000 threshold in a single day. Depositing cash that totals 12,000 in one day clearly crosses that limit, so the bank must file a CTR with FinCEN. Deposits of 9,000 are under the threshold, and electronic transfers or debit-card purchases involve non-cash methods, so they don’t require a CTR on their own. Remember, multiple cash deposits within the same day that total over 10,000 also require a CTR.