Bank Secrecy Act Currency Transaction Report (CTR) Filing Thresholds
Under the Bank Secrecy Act (BSA), a broker-dealer must file a Currency Transaction Report (CTR / FinCEN Form 112) for cash transactions exceeding:
A CTR must be filed with FinCEN within 15 calendar days whenever physical currency (cash, greenbacks, coins) exceeding $10,000 is deposited, withdrawn, or transferred in a single day.
Complete Analysis & Legal Rationale
A CTR must be filed with FinCEN within 15 calendar days whenever physical currency (cash, greenbacks, coins) exceeding $10,000 is deposited, withdrawn, or transferred in a single day. Personal checks, wires, and electronic ACH transfers are NOT physical cash and do not trigger a CTR.
Distractor Autopsy (Why Other Options Are Traps)
FINRA exam writers design incorrect distractors using specific calculation mistakes and regulatory misconceptions. Review why each option succeeds or fails:
Cash deposits >$10,000 in a single day require CTR filing within 15 calendar days.
Personal checks are not currency; $5,000 is the SAR threshold.
Wires do not trigger CTRs (only physical currency).
Arbitrary figure.
Official Standard: Mandates CTR filing for currency transactions exceeding $10,000.