A currency transaction report (CTR) is a report that U.S. financial institutions are required to file with FinCEN for each deposit, withdrawal, exchange of currency, or other payment or transfer, by, through, or to the financial institution which involves a transaction in currency (e.g. bank notes or coins) valued at more than $10,000.[1][2] Used in this context, currency means the coin and/or paper money of any country that is designated as legal tender by the country of issuance. Currency also includes U.S. silver certificates, U.S. notes, Federal Reserve notes, and official foreign bank notes.[3] Contrary to popular misunderstanding, these reports do not apply to, and are not used for, non-currency transactions such as checks, nor for electronic transfers such as wire and ACH/EFT.[4]
- ^ 31 CFR 1010.311.
- ^ "Frequently Asked Questions Regarding the FinCEN Currency Transaction Report (CTR)". fincen.gov. United States Department of the Treasury. Retrieved 2018-04-12.
- ^ "Currency Transaction Reporting—Overview". www.ffiec.gov. Archived from the original on May 14, 2006. Retrieved 2013-05-09.
- ^ Financial Crimes Enforcement Network. "FINCEN Form 104" (PDF). Internal Revenue Service. Retrieved 5 June 2024.
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