CTRs: Critical vs. Non-Critical Fields

When completing a Currency Transaction Report (CTR), FinCEN wants the most complete and accurate information you can provide. If you’ve ever completed a CTR, you know that there is a lot of information that’s requested on that form. The CTR Instructions talk about “critical” and “non-critical” fields. Critical fields are required to be completed, and non-critical fields are not. Keep in mind; however, just because non-critical fields aren’t required, that doesn’t mean they are voluntary, and you can just skip them either. If you have the information, you need to report it.

Kevin explains more in the video.

 

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  • Annual Exemption Due Diligence & Reviews
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Published
2022/06/10
Kevin Edwards

Kevin Edwards

Kevin brings years of experience and a unique perspective on regulatory matters to our clients. A self-proclaimed geek and accredited CRCM, Kevin is also a recovering attorney with experience as in-house counsel for a large regional bank and one of the leading national title insurance providers. For reasons unknown, Kevin decided to leave the safety and serenity of his desk job to seek fortune and glory as a wandering adventurer. Like a bank compliance version of Kwai Chang Caine, The Man with No Name or Don Quixote, he now travels the land seeking to help those in need and righting compliance wrongs, wherever he may find them. Kevin lives in Sioux Falls with his two children, who are surprisingly normal after having endured their father’s vivid imagination for their entire lives. He won’t admit to having any hobbies, because apparently “Regulations never sleep.” (While he does say this in his Batman voice, we’re pretty sure he’s joking.) From the looks of his Facebook page, he likes the outdoors and spending time with his large extended family (who seem like relatively normal people).

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