FinCEN CTR, Currency Transaction Report, must be filed electronically for all currency transactions of more than $10,000 (31 CFR 1010.311). Currency received from the sender or paid to the receiver can cause the reporting requirement. Multiple currency transactions must be aggregated, and a CTR is required, if the business knows or has reason to know that the multiple transactions are by or on behalf of any person and result in either cash-in or cash-out totaling more than $10,000 in one business day (31 CFR 1010.313(b)). The CTR must be filed within 15 calendar days following the day the reportable transaction occurs 31 CFR 101.306(a)(1). Return to List of FAQs
