When filling out a Currency Transaction Report (CTR), you would think that completing your institution’s contact information would be pretty straightforward. But we still see errors in this section from time to time. Item 44 “Legal name of filing institution” is one field that can and does trip people up. FinCEN wants the actual legal name of your financial institution. A good place to look for this is your Articles of Incorporation. For instance, if your institution is registered as Community Bank Shares, Inc. but your public name/doing business as name is First Community Bank, you would put “Community Bank Shares, Inc.” in Item 44. Item 45 “Alternate name, e.g., trade name, DBA” is where you would put “First Community Bank”. Sometimes the person filling out the CTR gets these two confused or doesn’t realize the institution even has a different legal name.
Kevin explains more in the video.
Published
2025/07/07
