The Bank Secrecy Act outlines specific reporting obligations for certain transactions made in currency. One of those required reports is a Currency Transaction Report, or CTR. §1010.311 states that, …Each financial institution other than a casino shall file a report of each deposit, withdrawal, exchange of currency or other payment or transfer, by, through, or to such financial institution which involves a transaction in currency of more than $10,000, except as otherwise provided in this section…. FinCEN’s CTR Electronic Filing Requirements expand on this stating …Only cash transactions that, if alone or when aggregated, exceed $10,000 should be reported on the CTR. Transactions shall not be offset against one another. If there are both Cash In and Cash Out transactions that are reportable, the amounts should be considered separately and not aggregated. However, they may be reported on a single CTR. If there is a currency exchange, it should be aggregated separately with each of the Cash In and Cash Out totals.
The CTR itself can be a bit cumbersome and requires a lot of specific information.
Kevin explains more in the video.
Published 2026/06/17
