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ITG FAQ #2 Answer-What are the reporting requirements for money orders?

FinCEN Currency Transaction Report (CTR), must be filed for all currency transactions involving either cash-in or cash-out of more than $10,000 (31 CFR 103.22(b)(1)). 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 103.22(c)(2)). The CTR must be filed within 15 calendar days following the day the reportable transaction occurs.

FinCEN Form 105, Report of International Transportation of Currency or Monetary Instruments (CMIR), must be filed by ay person who transports, mails or ships or has someone else transport, mail or ship currency or monetary instruments in excess of $10,000 into or out of the country or who receives such items in the United States from abroad (31 CFR 103.23).

See FinCEN Forms for more information.

 

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Page Last Reviewed or Updated: 10-Apr-2017