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Financial Institution Letter

Currency Transaction Report

March 16, 2004
Notes
 
TO: CHIEF EXECUTIVE OFFICER (also of interest to BSA Compliance Officer)
SUBJECT: New Currency Transaction Report
Summary: The Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) has issued a new Currency Transaction Report (CTR) form - FinCEN Form 104 - which replaces the Internal Revenue Service's CTR Form 4789.

The Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) has released a new Currency Transaction Report (CTR) form - FinCEN Form 104 - which replaces the Internal Revenue Service's (IRS) CTR Form 4789. Banks and other institutions are required to complete a Currency Transaction Report to help law enforcement agencies detect and prevent money laundering and other illegal activities. FinCEN Form 104 is now available for use; however, banks may continue to use IRS Form 4789 until August 31, 2004 .

Each financial institution must file CTR Form 104 for each deposit, withdrawal, exchange of currency or other payment or transfer by, through or to the financial institution that involves a transaction in currency of more than $10,000.

For more information, including how to complete Form 104 online and filing via magnetic media, go to http://www.fincen.gov/reg_bsaforms.html .

Please distribute this information to the appropriate personnel in your institution.

For your reference, FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/financial-institution-letters/2004/index.html . To automatically receive FDIC FILs through e-mail, please visit http://www.fdic.gov/news/news/announcements/index.html .

Michael J. Zamorski
Director
Division of Supervision and Consumer Protection


Attachment (May be accessed from http://www.fincen.gov/reg_bsaforms.html .)

Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342 or (703) 562-2200).



FIL-28-2004

Last Updated: March 16, 2004