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Confidential Report Format for Bank

Confidential Report Format for Bank

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Instructions and help about credit information report iba format

this is a CTR currency transaction report or fencing form 104. it is filed through the financial crimes enforcement Network through the United States Department of Treasury it is required for every cash transaction ten thousand dollars or more since cash is liquid the FED considers it a leakage they want to make sure every dollar is accounted for it even the change in your couch they absolutely do not have to notify you when they file this form however some banks do grant you that courtesy now if you try to structure or layer your deposits to avoid this form from being filed the bank will file what is called an SAR or suspicious activity report then you're in deeper because they can file these on a hundred dollars if they wanted to just an FYI keep records of your financial statements you can use software like QuickBooks you can create your own spreadsheets in Microsoft Excel most point of sale software does it for you even square and that's free follow the money read a

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